Betfair SOS trading on more than on horse at a time

butcher84
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Betfair SOS trading on more than on horse at a time

Postby butcher84 » Tue Oct 14, 2014 1:49 pm

Afternoon,

Well this is probably gonna make the more novice of you giggle but, just recently started trading on Betfair.

if im backing and laying one horse im ok BUT the moment i say back 2 horses waiting for the lay to come down i hit confused mode, when adding the lay orders in i struggle with exactly how much, iv watched videos where a guy said add up your highest green and red numbers? is this still the case for 2 backs??

all i see is red numbers and its getting confusing some say click the 'payout button and add that number in there' or am i looking at it wrong and as long as i lay lower than what i back for the SAME stake (using £2's) at the mo i will not go into the red. the fact that when putting one lay order in i see alot of red i think is wheres its getting confusing and worry kicks in

its stopping me trade at the mo cause i don't wanna do something really wrong and leave myself empty!

any help is much appreciated

Long time lurker first time poster
Mark

nors
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Postby nors » Tue Oct 14, 2014 3:13 pm

On the Betfair site there is above the prices a more options text button.

If you click more options you can tick the what if button

Display "what if" figure
Shows what will happen to your P&L if unplaced bets were matched.

Make sure you have "Confirm bets before placing ticked."

When you back a horse without laying it all the other horses will show as red losses.

When you back a horse and put in a lay bet at the same time it will show your proposed P and L if both matched.

This will show you if both back bets are matched with your proposed lays.

The problem you are probably having is where 1 bet is matched on the back and lay side and the other isn't. You then have to decide whether to close the second bet at the available lay price.

This thread should help you.

http://www.olbg.com/forum/topic49_14441_120.html

Also Davidg blogs give further detailed info.
http://www.olbg.com/blogs/index.php?c=49

butcher84
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Postby butcher84 » Thu Oct 16, 2014 11:32 am

Nors, thank you!! thats has helped alot and im looking through the links you provided thank you

davidg3907
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Postby davidg3907 » Thu Oct 16, 2014 12:34 pm

One extra bit of advice , when placing either a lay or back bet that you will DEFINITELY be trading later, ALWAYS put in the contra bet with the radio button set for TAKE BSP at the same time - certainly until such time as you are completely comfortable with what you are doing.

Even if you set this at a slightly unrealistic figure you are almost certain to get matched and it ensures you don't forget to do it.

It is just as easy to edit the odds as it is to place a new bet.

What you may find off putting at the beginning is that whenever you back or lay ANYTHING you are instantly in a RED position due to the fact that the lay price is higher than the back price at the time of placing the bet.

That applies whichever bet you place first and is why the 'cash out' option will always show a losing position at the time you first place a bet.
LAYING Taking it further
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CFDLord
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Postby CFDLord » Tue Dec 23, 2014 11:52 pm

These tips are really helpful. I mostly do CFDs need to pay more attention to this.

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