Two-Stage Dutching (Back)
Description
This is a math-intensive trigger example involving two stages of Dutching bets. The strategy covered by the triggers can be described as follows:
1. Place back Dutching bets on chosen selections at a certain time right after the off, to the specified target profit.
2. At another time (also specified by the user), place several more Dutching bets, so that together with the first stage bets they result in the second target profit figure. The bets will be placed both on Stage 1 and Stage 2 selections.
The user can key in the indexes of the selections to back on, separately for Stage 1 and Stage 2.
The strategy can be useful, for example, in betting on football Correct Score: you first choose the 0-X scores to back on, and later include 1-X in the group to generate an even profit on all of them.
Triggers
Click here to download the trigger file.
In the constants you can set:
stage1_target_profit : Target profit for Dutching, Stage 1 (this is the P/L figure the chosen Stage 1 selections will have after the first round of bets);
stage2_target_profit : Target profit for Dutching, Stage 2 (this is the P/L figure the chosen Stage 1 selections plus Stage 2 selections will have after the second round of bets). stage2_target_profit should be equal or greater than stage1_target_profit, as you cannot remove the bets you already placed to reduce the P/L;
stage1_idx1 to stage1_idx4 : Stage 1, indexes of selection 1 to 4;
stage2_idx1 to stage2_idx3 : Stage 2, indexes of selection 1 to 3;
stage1_mins : At what minute after the off to do Stage 1 Dutching;
stage2_mins : At what minute after the off to do Stage 2 Dutching;
In Action
The triggers can be tested in any kind of market with a sufficient number of selections (as per the constants, minimum 8 selections, but this can be changed at any time). You can amend the constants and triggers to back on a lesser or greater number of selections: just add extra constants or remove those that you do not need in the stage1_idxN or stage2_idxN ranges. Accordingly, edit the condition that looks for the selections with the right index:
Selection's Index is in list ...
You can certainly choose an entirely different criterion for picking your selections, e.g. based on rank. In that case, edit the condition above to check a different selection parameter.
Stage 1
Here is how the market will look after the first stage (stage1_target_profit = 100):
The triggers placed four bets to an equal profit of 100 (for the sake of illustration, the option "Show P/L net of commission" has been turned off).
Now see what happens after the second stage of Dutching kicks in (stage2_target_profit = 150):
The triggers placed further three bets on Stage 2 selections, along with adjustment bets on the previously Dutched selections. Note that insignificant computational errors (i.e. 151.49 instead of 150) are possible and will be less noticeable if you reduce the number of selections you bet on.