Betfair Tennis Trading Bot Based On Percentage Of Stake
Posted in From My Inbox by StefanBelo
Hi I need a bot for trading tennis markets.
It needs to:
1. Place a back bet before match begins.
2. Trade out automatically in-play when I can achieve a % profit of my back stake.
3. Have a stop loss when I am in a position where I will lose a certain % of my initial back stake.
4. If one lay bet is put on, the other needs to be cancelled.
Therefore, if with a Betfair commission of 5% I back Federer at 1.20 before the game begins with a stake of 100, I would need to lay him at 1.14 with a stake of 131.58 for around a 30% profit and lay him at 2.20 with a stake of 68.18 for a loss of around 30%.
So it's quite simple but most bots seem to only allow for trading based on the 'ticks' system or % move of the odds not % profit/loss from back stake. Can any of your bots do what I need at Betfair?
Kind regards, James
You should read this article first. It describes how to setup similar betfair trading bot for tennis markets. To setup your bot open the Bot executor and add the new bot criteria setting.
The picture is only illustrative, you have to set following parameters:
| Parameter | Value |
|---|---|
| AllowPlacingBetInPlay | True |
| BetType | Back |
| MaxOdds | 1000 |
| MinOdds | 1.01 |
| PlaceBetOnRunner | 0 |
| Stake | 100 |
| MinReturnOnInvestement | 30 |
| StopLossOnPercentageLiability | 30 |
| UseMinOddsDifference | False |
What could be interesting for you is to set accepted odds range setting the parameters: MinOdds and MaxOdds with current settings any back odds is accepted.
Because the parameter: PlaceBetOnRunner is set to 0, the trading bot is executed on the selection (player) you choose manually. You can use this bot using the tool: Execute my strategy on selection, if you want to run it on more selections automatically at preset time before official match start time.
If you want to use your bot automatically using the tool: Trade opportunity lookup, you have to set parameter: PlaceBetOnRunner is set to 1, if you want to back the favorite. You have to set the parameter: Sort selections by probability to win.
You can read here more about how to use this bot with the tool: Trade opportunity lookup.
Wednesday, March 10, 2010
I don't understand...
I backed a player at 1.34 with the stoplossonpercentageliability set to 10%.
The bot took the stop-loss at 1.80 however, which according to my calculations works out as around a 25% loss of my initial back stake and not 10%.
How can I get the bot to place the stop-loss lay at 1.50 which would give a 10% loss of the original back stake? What do I have to write in the stoplossonpercentageliability or do I need to use a different setting?
thanks.
Wednesday, March 10, 2010
Use the practice mode for any testing!
This bot monitors current offered prices and if you set stop at profit or stop at loss as the percentage of your liability, the bot places bet when your preset stop loss is equal or higher than your current position. When placing stop loss bet, the bot checks last price matched prohibiting this way false triggering when odds rapidly moves.
On markets where odds moves so rapidly as tennis markets do, such situation could occurs. It is pity you did not make any screenshot so you could check it with real data. You should realize as well, that on in-play markets any bet is placed after in-play delay, and your offered bet must be matched by your opponent.
If a bet placed by bot remains unmatched more than 20 seconds the bot cancels the bet and again reevaluates situation on the market.
Have a look at on some screenshots from picture gallery.
Snooker
Tennis
You can see (not only on a tennis match) that odds moves rapidly, from 1.3 to 1.45 (Mark Selby), from 1.15 to 1.32 (Fernando Gonzalez), from 1.65 to 1.52 (Vera Dushevina), and so. What I could suggest is to switch bfexplorer into the practice mode so you will not risk your money, all bets will be placed virtually. Open markets where odds moves slowly, for instance Football (Soccer) Over/Under 2.5 Goals.
Set your parameters so the stop loss is trigger in couple minutes (for instance 1-2%), and run your bot. This way you can test any type of bot with different setting on any market in couple minutes. Do the same on greyhounds market where odds moves rapidly in couple minutes, and of course on tennis markets but you have to wait more on a tennis market.
Bot is a program and it will act the same way on any market.