Either direction Green-Up

Description

This is quite an interesting trigger example suggested by one of our users (check our forum for more interesting ideas). Its concept is about trying to green up on a selection with whichever type of bet gets matched first (back or lay), regardless of where the market goes.

In a nutshell, it can be explained as follows.

Choose a high-liquidity BetFair market. Aim to bet in a market where prices can fluctuate frequently without any obvious trends, such as Tennis Match Odds. Horse races will be a worse choice if you want to trade before the off, but you can experiment with different sports.

1. The betting starts from identical back and lay bets on the favourite, at 2 ticks better than the current prices.

2. Once one of these bets get matched, the other one gets cancelled and a sequence of new bets begins.

3. If the lay bet was matched first, the trigger will attempt to green it up with a back bet at 2 ticks.

At the same time it will place a new lay bet at a price 2 ticks higher than the previous lay bet. 

The idea behind this is as follows. Should the market go upwards, the bak bet will be matched and the selection traded out. In that case the other lay bet will be cancelled and betting for that market stopped.
Should it go downwards, the second lay bet will be matched and a new green-up attempted.

4. At this point the back bet gets cancelled and placed again so as to green up the matched lay bet with a profit of 2 ticks.

5. Step 3 is now repeated so that we have 3 lay bets and 1 back bet.


If the market turns against you significantly, then after a certain time (specified in the constants) the stop-loss triggers will kick in and trade out the bets to an equal P/L.

Ideally all of your bets will be matched. The back bet above was matched, so the third lay bet was cancelled automatically.


If it is the back bet that gets matched after step 1, then the opposite sequence of bets takes place, i.e. a greening up lay bet, then more back bets if the market keeps going up, until a maximum of 3 back bets (or whatever you specify in the constants).

Triggers

Download the trigger file.

As always, you will find various constants for tuning up your triggers.

bet_size

Size of the initial bets

min_rank

Minimum rank of the selection to bet on

max_rank

Maximum rank of the selection to bet on

boffset

Tick offset for green up and initial bet

max_bets

Maximum number of bets of the same type on each selection

max_gap

Maximum difference between back and lay price, in ticks

sl_tcks

Stop-Loss ticks

min_vlm

Minimum market volume

wait_sl_time

How many seconds to wait till Stop-Loss

 

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