How to apply various stop-loss methods
- Quick Tips
- How to make a trigger start 45 sec after or before the off?
- After I started MF Pro and opened 'Triggers', I can't see the triggers I added last time
- How do I stop it betting when my balance reaches certain level?
- My triggers are not working. What to do?
- How to calculate the amount I want to back to win £100?
- How can I apply staking plans?
- How can I cancel a trigger if another trigger has worked?
- How do I compare the current price with that 1 hour ago?
- How to bet a percent of the total bank
- How to bet on a selection based on its position in the list, and not its price
- How to make a trigger bet the default betting amounts specified for the market
- How to check or uncheck all selections in the market
- How to bet to a fixed liability/payout
- How to bet on the selection with the specific BetFair order
- How to cancel all unmatched bets if at least one was matched
- How to apply triggers to specific selections
- How to cancel unmatched bets and post them at the best price before the start of the event
- How to Dutch Selections Chosen By Specific Conditions
- How to bet in races with a specific number of runners?
- How to stop betting after x wins/losses in a row?
- How to back at lay odds and lay at back odds?
- How to eliminate the loss on possible winners In-Play?
- How to apply triggers to specific markets
- How to apply various stop-loss methods
- How to determine whether the previous event affected by a trigger has finished
- How to apply the 'Fill or kill' rule?
- Betting on selections whose IDs are given in Excel
Here are several methods that you may use to stop potential loss made by one or more bets.
1. Matching unmatched bets at the best available price.
MarketFeeder Pro offers built-in options for posting your unmatched bets at the best available price, on certain conditions. Use the "Stop-Loss" tab in "Settings" to configure the conditions, on which MF Pro will match your unmatched bets automatically, in every monitored market.
You can also do this using a trigger (if you want to stipulate special conditions that are not available in "Stop-Loss" options. See an example of such trigger below:
Action: match back unmatched bets / match lay unmatched bets
Markets, Market Status: choose appropriate
Selections: all matching selections
Execute: once per market (or choose another option, if you want to do this several times)
Conditions are met:
Any Selection's ... (specify the parameters of the selections, whose bets must be matched)
2. Eliminating the loss on a specific selection, and spreading it equally among the other selections
You can create a trigger, which will remove all potential loss (zeroing the P/L) for a specified selection, and spread it equally among the other selections. Below is the trigger example:
Action: spread loss
Markets, Market Status: choose appropriate
Selections: all matching selections
Execute: once per market (or choose another option, if you want to do this several times)
Conditions are met:
Any Selection's ... (specify the parameters of the selections, whose bets must be matched)
Usually traders do this at In-Play, when the selection they laid becomes a potential winner with a low price. So one of the most frequently used trigger is:
Action: spread loss
Markets: All Markets
Market Status: In-Play
Selections: all matching selections
Execute: once per market
Conditions are met:
Any Selection's Profit/Loss is less than 0
and Fitting Selection's Back Price is equal or less than ... (here comes the lowest price limit)
3. Distributing the loss on a specific selection equally between all selections in the market.
This option is available for selections, which you laid or backed on, in case you want to compensate the potential loss with an opposite bet, thus distributing the loss in the same way, as distributing the profit with a "green up" function. For example, if you backed on a selection before the off, and at In-Play its price grew up to the limit of a potential loser, you may want to make a lay bet and "green it down". And on the contrary, if you laid on a subsequent potential winner, you will expect the program to back on the selection and distribute the loss. The difference between "spreading the loss" and "distributing the loss" is that the "spread loss" function eliminates the loss completely, plus it can do this even if you did not bet on that specific selection (for example, if its loss was generated by back bets placed on other selections). The "distribute loss" function just reduces the potential loss (makes it equal for all selections), and it will work only if you placed at least one bet on the selection.
A corresponding trigger is composed similarly to a "spread loss" one:
For laying after backing:
Action: distribute loss between selections
Markets: All Markets
Market Status: In-Play
Selections: all matching selections
Execute: once per market
Conditions are met:
Any Selection's Back Matched is greater than 0
and Fitting Selection's Back Price is equal or greater than ... (here comes the highest price limit)
For backing after laying:
Action: distribute loss between selections
Markets: All Markets
Market Status: In-Play
Selections: all matching selections
Execute: once per market
Conditions are met:
Any Selection's Lay Matched is greater than 0
and Fitting Selection's Lay Price is equal or less than ... (here comes the lowest price limit)
