The ladder user interface has got a little bit hidden feature for setting your stop at profit or stop at loss. You have to open your position first, and then this functionality becomes active. You can set the stop at profit or loss by clicking the right mouse button similar like placing a bet. On the ladder you see your potential profit or loss and that will be your level at which the bot automatically places your closing bet.

You can see it on the ladder as the green or red point. You can update this level just by right clicking on different odds, or you can cancel it clicking on the same odds row.

On the picture above, the opening bet was back bet 100 Euro at 5.0, at that moment this position could be closed for equal profit of 35,12 Euro. I set my closing positions to profit at 3,4 odds (the green) at potential profit of 47,06 Euro and I set my closing position to loss at 5,4 (the red).

The chase the price bot actually does what its name suggest. It chases the price when the price moves in the opposite direction. You have to place your bet offering it on a better odds, and when odds moves not matching your bet, the chase the price bot will update your bet to be placed at best offered price.

Dave managed to close his position with different profit for one selection. You can hedge your position using the Bet Wizard: Close position for selection, so the Bet Wizard would re-hedge your position to get equal profit on all selections.

David had been playing with different bot strategies on the ladder and basically he started execution by clicking on the Start Strategy toolbar button. Any of these strategies can be executed by clicking on the ladder similar like placing a bet on the ladder, in such cases the bot strategy takes bet type, odds and stake parameters and uses them with the selected bot strategy where applicable.

Auto Trader uses the "be the first in queue" strategy to open its position what means there have to be a gap between offered back and lay odds (prices). It is a good idea to open the Output window in the Bfexplorer PRO so you can see all status messages the running bot produces.

If you run more bots on more selections or more markets, you can see all the activity on the Start Page where you can stop running bots on any selected market. Bots execution can be stopped for selected selection clicking on toolbar button Stop bot, or Stop and Cancel that will cancel any unmatched bet on the selection as well.

Any running bot on a selection is stopped when you close your position by Bet Wizards, or when closing position by Profit/Loss button on the market grid view.

David is right, a bot has no intelligence, it just executes what you instructed it and it does it without any emotion. You decide when to enter on a market and that is the key factor if your trade will end in a profit or in a loss. There are certain market types with known price (odds) trend and those are markets suitable for automation mainly when you open for trading your position on many markets.

In the trading strategy toolbar you can find 6 bot types. The Bot Executor offers 11 bot types, and any of these bots can be preset with different parameters making so a set of bots you could use anytime just by selecting a bot and clicking on the Start bot toolbar button.

David had been using Bfexplorer Trader to trade on multiple selection, to switch between markets you do not have to close the Bfexplorer Trader but just return into the Bfexplorer leaving the Trader window open. Then select your new market and click on the toolbar button Bfexplorer Trader, this way you will not lose your settings in the Bfexplorer Trader, like confirm bets, hedge enabled, your stakes and number of ladders you want to show for the market.

If you want to close your position at in-play I would suggest to use the ladder or the Bet Wizard: Close position for selection where you can set odds and level at what you want to close your position. (If you set in the application setting the parameter: At in-play keep the bet, you bet will not be cancelled when market is turned at in-play.) It could really happen, mainly on markets where odds moves rapidly, that at the moment you are about to click on the green profit button odds changes and you would ended with a loss.

You can center odds on the ladder by clicking with the right mouse button whenever in the odds column on the ladder.

To turn off the bet confirmation dialog click on the toolbar button next to: "Stake is my liability", this toolbar button is called: Confirm Bets

If you prefer trading on one selection only you can use Bfexplorer PRO with the market grid and one ladder on the right side, then you can use Bot Executor and bot: Close position on the outcome, if you want to revert your position.

David opened quite a lot of markets for monitoring. I do not know what refresh rate he used, but when exceeding more than 20 requests per seconds he could pay betfair data fees. In the status bar you have got the betfair api counter showing your current usage of betfair api services.

You can use the tool: Trade opportunity lookup, to load your markets automatically at preset time or you can even evaluate markets so this way you can filter your markets using different types of criteria, this way you will minimize your betfair api usage.

David tried to place his bets in the practice mode. In the practice mode the keep bet feature is not implemented, therefore when he updated the bet by setting the keep bet attribute it did not work for him. In the normal betting mode, it works without prombles.

David placed his closing bets directly from my bet window. You can place your closing bets using the Bet Wizard: Close Position, where you can set your desired odds at which you want to close your position. There are of course other alternatives for closing position, the Bot Executor for instance is one of them.

The Bfexplorer PRO offers three types of user interface for bet placing, the market grid view similar to the user interface on betfair web pages, the selection list view (“ladder”) user interface for placing, updating and cancelling bets, and Bfexplorer Trader for multi selection trading on the list view interface.

After a bet is placed at betfair the market selection on which you placed the bet is automatically added into the Watched selections window so you can see the odds movement and your current position. If you want to close your position (trade out with equal profit) you simply click on Profit button, or on the Close position in the Watched Selections window.

You can monitor as many markets as you want quickly switching among them through Watched Selection window or Market list.

The application offers a set of Bet Wizards for placing bets when preset criteria are met, bet wizards for placing a bet and closing position, backing or laying all selections, back or lay dutching.

As this application is used by traders it offers trading strategies for any of mentioned user interface components and extensive bot script support both by built-in bots or customizable bot scripts. This unique feature enables you to write your own bot scripts in Visual Basic or C# programming languages. For users who are not familiar with any programming language the Bfexplorer PRO offers a Bot Executor with Bot Criteria Editor which can be used to setup different scenarios for bet placing or trading by utilizing all offered bots (including customize bots). Such bot criteria is then used on the selection when needed, just by clicking on the start bot toolbar button, or for your fully automated solutions which can run on the Trade Opportunity Lookup service. The application supports the Excel automation as well.

The Bfexplorer PRO offers any available information you can get from betfair, presenting the market data on charts where you can see the price/odds movement and weight of money in time, traded and available volume, market statistics, choose your selection window where you can sort selection by six different parameters, everything you need to decide the right moment for opening or closing your position when trading on a market.

Thanks to extensive bot support the application can be used to host any bespoke solution built as a plugin for the Bfexplorer, you can see some of such solutions in the My Solutions menu.

Features

• Practice mode
• Start page with possibility to switch between preset home page and the application status window
• Possibility to open a market by clicking on the market link on the betfair web page
• Browse event markets
• Today’s card next race for horse racing and greyhounds
• Market status notification and market time (countdown and event time)
• Preset stake, stake is my liability for lay bets, bet verification
• Market details with price movements, volume and weight of money in time all presented by charts
• Market grid view for bet placing with reverse bet placing and Profit/Loss button
• Trade the Market for trading with four different trading strategies
• Bet/Bot wizards for placing bet and dutching
• Bfexplorer Trader for multi selection trading
• My bets with all bet operations, placing, updating cancelling, and changing the bet status for in-play markets
• Watched selections
• Market watch list
• My favorite events for today
• Bot executor with bot criteria editor
• Trader opportunity lookup
• My bots support for bot script development
• Possibility to integrate any bespoke solution
• Microsoft Excel automation
• My results also supported in practice mode
• Output window for the application and bot status notification
• The user interface with dock-able windows with layout persistence

2. You can trade at betfair, or betdaq.

3. You can trade anywhere and anytime using Bfexplorer for Windows Mobile.

4. You can create your automated betting or trading solution just by setting bot parameters.

5. If you are familiar with programming in C# or Visual Basic, you can create custom bot script or bespoke solution directly integrated into the Bfexplorer PRO so utilizing all features the Bfexplorer PRO offers.

In all cases I reply simply reply yes it can be done, and explaining how to use tools like Bot Exceturor, Trade Opportunity Lookup Service or Execute My Strategy on Selections.

If a strategy, either betting or trading requires additional software development I offer my help in building simple custom bot script or bespoke solutions. In both cases if you are familiar with programming in .net using C# or Visual Basic, you can do it yourself utilizing Bfexplorer BOT SDK, you can even integrate your solution user interface with Bfexplorer PRO, creating your bfexplorer plugin.

Any simple bot scripts I made for free can be found in MyBots folder after installing the Bfexplorer PRO, with the latest version of Bfexplorer PRO you can find there 91 betfair bot scripts.

All those betfiar bot scripts could be used as inspiration when implementing your own strategy, but the problem is that there is no documentation, what actually is not required for software developers as the betfair bot source code is self documented itself, but for common people it would be a good idea to have a betfir bot repository with description of using the bot and its parameters, purpose and test results.

It is clear that such repository would contain just ideas and tested approaches, in most cases maybe it would have nothing to do with profitability, but I think that also such information would be interested for a lot of people.

Therefore I decided to open on the forum category: Betfair bot for this week, where you can post your ideas for simple bot script strategies, at the end of each week I will select the one I will implement and publish an article about it.

The first betftair bot script I build for one Slovak user was LookUpBot script implementing martingale system when betting on favorite on UK horse racing markets. The betfair bot uses 4 just parameters, to set allowed odds range for favorite, required profit at which bot stops its activity on horse racing markets, and time at what backing bet is placed. You can read more about it in this article: Martingale

Here it is the screenshot from my test.

Do not hesitate to post your ideas for: "Betfair bot for this week", maybe the next betfair bot script I will implement will be the one posted by you.

The Bfexplorer PRO supports bot script development in Visual Basic or C# programming languages. So if you are a familiar with one of those language you can write your own trading and lookup bot scripts. The Bfexplorer PRO has a simple text editor for writing bot scripts, the bot script source code can be compiled so you can check this way if the code you wrote is without errors, but there is no support for debugging nor the text editor has no capabilities offered by integrated development environment like the VS2008 so this editor is suitable only for small changes of code or changing parameters in existing bot scripts. If you want to write more complicated bot scripts you should use this BOT SDK package.

The BOT SDK contains two projects, one in Visual Basic and the other in C# so you can open it in VS2008 Express and write, debug and test your bots. The Bfexplorer infrastructure is exposed by BotTestService interface enabling the base features of the Bfexplorer platform for testing purposes. The result of your coding effort can be then used in Bfexplorer PRO either as a trading or lookup bot script you can use in the Bot Executor or in the Trade Opportunity Lookup Service.

Features

• The full source code of all bfexplorer bot scripts
• A simple project showing how to use the bfexplorer infrastructure
• Debugging and testing of your own bot scripts for the Bfexplorer PRO or building your own solutions
• Full transactional betfair API access for the price of monthly subscription for the Bfexplorer PRO

With Bfexplorer for Pocket PC (Windows Mobile) you can trade directly at tennis court or racecourse, or any other event you can bet in-play. If you know, how to exploit the advantage of being on an event, why do not you use it?

The application uses the market grid view presenting only best offered prices and Profit/Loss button for closing your position. For horse racing markets, or markets with more selections you can switch the market grid view to two columns showing this way more selections on the small mobile device display.

You can browse all betfair events in offer to open your market, and monitor simultaneously more markets. You can set a different refresh rate used for market monitoring for markets which are in-play and which are not. You can set your default stakes also for in-play and not, trading offset, possibility to place closing bet immediately after the opening one is matched. The close bet stake is calculated automatically with equal profit or loss or with zero profit if your bet loses. You can update or cancel your unmatched bets.

Features

• The mobile application build on betfair API
• Multi market price monitoring
• Two view modes for the market view enabling the bet placing and trading
• Trading with possibility to close position with equal profit or zero risk

Start trading and stop betting, it was never so easy as it is now using Bfexplorer PRO.

• Subscribe to Bfexplorer for Bettors for only €5
• Subscribe to Bfexplorer PRO for €30
• You can find more video tutorials at BetfairBotParadise.
• Bfexplorer PRO aj po slovensky.

Subscribe with Bfexplorer PRO and you will get 6 products for €30.

What we offer

The bfexplorer is not only betting or trading platform but also the platform you can use to automate your trading systems. With the bfexplorer we deliver the right tool for all, an occasional bettor or an advance user or a full time trader, and also everything that a bot operator needs.

For bettors

• Market grid view for bet placing with profit/loss button
• Bfexplorer Trader for bet placing on multiple selections
• Bet wizards for bet placing, dutching, and four different trading strategies
• Watched selections
• My favorite’s events for today
• Market navigation directly also through betfair web pages

For traders

• Market grid view for bet placing with profit/loss button
• Trade the market, list view for bet placing and trading on one selection
• Bfexplorer Trader for bet placing on multiple selections
• In Play Trader with unique presentation of the volume
• Bet wizards for bet placing, dutching, and four different trading strategies
• Conditional bet placing and automated or triggered trading
• Watched selections
• Choose your selection
• My favorite’s events for today
• Market navigation directly also through betfair web pages
• Traded and available, and market statistics
• Find in-play events

For bot operators

• Excel automation for trigger betting
• Bot script development support in Visual Basic or C#
• Bot Executor with Bot criteria editor
• Trade opportunity lookup service
• Plug-in integration of bespoke solutions and bot strategies

What else we can offer

We offer our help in building any bespoke solution or customizing user interface of the Bfexplorer for your needs. The Bfexplorer infrastructure is flexible enough to build any solution you can imagine. Bot operators can utilize direct bot script support to customize already prepared bot scripts, or build their own ones, in such cases we offer Bfexplorer bot SDK (betfair bot C# .net source code included).