Stop-Loss Bet
The stop-loss bet is optional and can be included with any of the base strategies. The values and settings for this bet are specified in the Stop Loss section of the plan.
The Stop Loss option allows you to specify a bet that will reduce your potential losses if the market moves against you. There are 4 types of bet that can be specified for a Stop Loss:
•Fixed Stake And Price – enter specific values for the stake and price.
•Set For Loss % - You specify a required loss percentage value that will be obtained if both bets 1 and the stop-loss are matched. For this feature there is an internal BTX function that will automatically calculate the values for the Stop-Loss bet on-the-fly in order to achieve a specific loss amount whichever selection wins. When you have specified a loss percentage value for the Stop-Loss, and the Stop-Loss bet is triggered (see below), the BTX with calculate the stake and price for the Stop-Loss in order to achieve the required loss.
The loss will be based on the stake amount matched with Bet1, except for cases where Bet1 is a Lay and the stake has been specified as a Liability value, in that case the loss is based on the liability amount. Note that in many cases the precise price required to achieve the loss target will not be an exact Betfair price, so in these cases the BTX will select the nearest Betfair price that gets closest to the required loss value. In addition the bet will only be placed if it satisfies the minimum stake requirement.
For example, if the Bet 1 stake is £10 and you want to limit the possible loss to £5 then you would specify a loss of 50%. See also the section Stop Loss Bet Placement With Offset Ticks.
•Ticks From Bet1 With Same Stake - Available with BTX Ultimate. This option enables you to specify that the Stop-Loss price is a specific number of Betfair market ticks away from the Bet1 matched price. In the case of Bet1 being a Back bet, the Stop-Loss Lay bet price will be the specified number of ticks higher than the matched Bet1 price. In the case of Bet1 being a Lay bet, the Stop-Loss Back bet price will be the specified number of ticks lower than the matched Bet1 price.
The stake will be the same amount as that matched on Bet1 which (if matched) will result in a loss on the selection, or break even on all other selections.
For example, with a Back then Lay strategy, let’s say the Stop-Loss has been specified at 12 ticks.
If Bet1 is matched with £10 at 2.50 then if the market moves against us and the LPM is 12 ticks or more higher at 2.74, then the Stop-Loss bet will be placed with £10 at 2.74 (resulting in -£2.40 if the selection wins and break-even on all other selections). See also the section Stop Loss Bet Placement With Offset Ticks.
•Ticks From Bet1 With Equalising Stake - Available with BTX Ultimate. This option enables you to specify that the Stop-Loss price as a specific number of Betfair market ticks away from the Bet1 matched price. In the case of Bet1 being a Back bet, the Stop-Loss Lay bet price will be the specified number of ticks higher than the matched Bet1 price.
In the case of Bet1 being a Lay bet, the Stop-Loss Back bet price will be the specified number of ticks lower than the matched Bet1 price. The stake will be automatically calculated so that if the bet is matched it will result in an equal loss no matter which selection wins.
For example, with a Back then Lay strategy, let’s say the Stop-Loss has been specified at 12 ticks. If Bet1 is matched with £10 at 2.50 then if the market moves against us and the LPM is 12 ticks or more higher at 2.74, then the Stop-Loss bet will be placed with £9.12 at 2.74 (resulting in -£0.88 whichever selection wins). See also the section Stop Loss Bet Placement With Offset Ticks.
