This example is about the Labouchere system. Here is a very clear explanation of how it works. Please read it before going through this example, as it is important that you've got the idea of how bets will be calculated.
The Labouchere staking plan is somewhat more complicated that others, so this time we're going to make use of Excel sheets that you can connect to MarketFeeder Pro.
I have put together an Excel spreadsheet that does all the computations. It has a neat and very simple interface that allows you to input your own sequence and watch how the bets are being placed.
Take a look at the screenshot:
The Sequence is the series of numbers used for the plan. By default it is 1 to 6, but you can enter your own series. It can have any length and consist of any numbers you want. Attention: this is the ONLY part of the spreadsheet that is recommended to be modified. Do not edit or delete any other cells and certainly don't modify the code of the file unless you are certain of what you are doing.
The figures in cells C2 through D6 are used by the spreadsheet, but you can also benefit from this information. For instance, "Cycle Total P/L" shows you how many units you have won/lost during the current cycle.
Column F, titled "Working Sequence" is where the spreadsheet goes through the series of numbers, actually showing you the process of unit cancellation.
Here is all you need for setting up these triggers:
3. Right-click here to download the custom cells file. Save it in the same folder as MF Pro program. After you open MF Pro you should be able to see this in the "Excel" tab of your settings.
4. Set up these settings in the program:
In General Options: Delete settled events automatically - should be ON
In Monitoring Options: Start monitoring events at ... mins before the beginning - set this to the appropriate number.
In Excel tab: Create a new sheet for each market - should be OFF, Display current bets in Excel - should be OFF.
5. Open the Excel file, then in the MF Pro window press the "Launch Excel" button. It wil ask you whether to connect to the open sheet. Choose "Yes".
Now as for the triggers, there are only TWO triggers in the file that we recommend to modify. Leave all other triggers intact please!
These two triggers are both located in the first trigger block and called "stake unit size" and "selection qualifies for a bet". The first one defines the size of one stake unit. The actual bet amount will be calculated as cell D4 multiplied by the unit size. So if you want to make a bet smaller, put a number less than 1.0 there. The other trigger lists all the conditions that must be satisfied for a bet to be placed. Add your own conditions here or amend the existing ones. Our trigger lays on the second favourite if its price is between 1.02 and 5.5.
Here is a sample statement:
In effect this is equal to the following operations:
and so on. The bets were placed in Horse Racing Place markets.
Labouchere Lay Variation
The original Labouchere is a roulette system, i.e. it is assumed that the odds of winning and losing are equal. In sports reality you lay at prices higher than 2.0, which means you will lose more and win less. As a result, if one or more losses take place in a Labouchere cycle, you will finish it with loss rather than profit.
To compensate the possible loss, you can use a modified set of triggers and Excel spreadsheet. They add the net loss to the end of the series rather than adding just the amount of the stake.
To take advantage of the variation, you will need to replace only the Excel file.