Creating your own betfair trading bot
Posted in Video Tutorials by StefanBelo Tags: BOT | Video
Bfexplorer offers more than 40 betfair bots for placing bets, dutching, trading or closing your bet position. Each of these bots offer its own features you can customize by setting bot parameters. In this video I will show you how to create betfair trading bot that will automatically trade back bet for 2 ticks profit offering back bet on better odds, or closing its bet position in 3 ticks loss. Later in this video I will show you how to test this bot in the training mode without risking your own money on betfair.
To execute my trading I will use the bot: Place bet and close position. This bot offers a lot of parameters for setting its behavior when the bot opens its bet position and closing it.
When you open Bot Criteria Editor and select the bot you want to configure, Bot Criteria Editor offers default parameters for each bot, so all you have to do is name your bot criteria and click on OK button to save them. In my case I left most of parameters with default settings, and set the following parameters: BetType Back, PlaceBetInAllowedOddsRange True, AllowPlacingBetInPlay True, PlaceBetOnBetterOdds True, Stake 100, ClosePositionImmediatly True, HedgingEnabled true, Loss 3, Profit 2, ProfitLossType Ticks.
To test the bot setting I switched Bfexplorer PRO into the training mode and I used the tool: Debug my bot, to simulate different market price conditions. In this case I moved market prices up and down to show you how bot reacts when chasing odds in allowed odds range (PlaceBetInAllowedOddsRange True, PlaceBetOnBetterOdds True).
To simulate my bet matching I set the last price matched to 200 Euro at odds 3.65 and clicked on Last Price Matched button, and because my opening back bet was currently offered at 3.65 and the last price matched was bigger than my bet stake100 Euro, my bet was matched and you could see that my trading bot reacted on this by placing hedge lay bet in 2 ticks profit (ClosePositionImmediatly True, HedgingEnabled true, Profit 2, ProfitLossType Ticks). You maybe wonder why I had to click on Debug My Bot buttons to force the bot reactions. Well it is because any bfexplorer bot is executed only when market prices, or status changes, and of course bet status changes.
You can test your bot in the trading mode on the real market price updates, so when bfexplorer actively monitors your market. You can do your test with real money using small stakes as well, but I would suggest to test any betting or trading strategy using bfexplorer bots in the training mode.
