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Excel and Bet Angel Professional |
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Page 2 of 2
I thought it would be a good idea to look at the various commands we can give to Bet Angel Professional via the spreadsheet. In order to make full use of the feature, it makes sense to be fully conversant in with each command have a good understanding of the consequences.
Commands:
BACK / LAY
- OFFESET:{number of ticks}
- WITH_GREENING:[TRUE/FALSE]
- FILL/KILL:[TRUE/FALSE]
- KILL_DELAY:{TRUE/FALSE]
- STOP:[number of ticks]
- STOP_PLACE:{number of ticks}
- TRAILING_STOP:[TRUE/FALSE]
Let’s have a look at these in turn:
BACK / LAY.
If you do not understand these two terms and what they might force Bet Angel Professional to do then please stop reading this article now and get more familiar with the betting exchanges. Once you have grasped the implications of using these wrongly then please proceed!
When used on their own, these will simply place a BACK or LAY order into the market at the price and stakes requested (we shall look at how we specify price and stake later). Hopefully no one is surprised by anything yet!
OFFSET:{number of ticks}
Example in spreadsheet:
BACK OFFSET:2
This will place a BACK bet into the market and a corresponding LAY bet AT THE SAME TIME two ticks lower than the BACK price requested. Obviously, we can set the number of ticks to a value of our choosing. BEWARE – This is the same as using offsetting in BaP – if the market moves by the time the order reaches the market your BACK (or LAY) bet may not get matched. The offset bet will still be in the market however. See FILL_KILL later.
WITH_GREENING:[TRUE/FALSE]
Example in spreadsheet:
BACK OFFSET:2 WITH_GREENING:TRUE
This will do the same as before but this time the spreadsheet will ask Bet Angel Professional to calculate the stake adjustment required to give us a profit no matter the outcome of the market. Again, I am assuming you know what ‘greening’ is. If not, basically it is a nifty way of guaranteeing profit – so long as the market moves in the right direction!
FILL_KILL:[TRUE/FALSE]
Example in spreadsheet:
BACK OFFSET:2 FILL_KILL:TRUE
This command will now ask BaP to place BACK bet into the market, with an offset of 2 ticks but only place the offset if the original order is filled.
As described earlier, if the market is fast moving, it may be that you do not want your offset bet placed if the original order is not filled. Using this command will ensure that our priority BACK (or LAY) order is filled before an offset bet is placed. This is a feature available within Bet Angel and I personally include it every time I use an OFFSET order.
KILL_DELAY:{seconds}
Example in spreadsheet:
BACK OFFSET:2 FILL_KILL:TRUE KILL_DELAY:5
This command will now ask BaP to place BACK bet into the market, with an offset of 2 ticks but only place the offset if the original order is filled. If the original order is not filled within 5 seconds BaP will cancel the entire trade!
STOP:{number of ticks}
Example in spreadsheet:
BACK OFFSET:2 STOP: 4
This command will ask BaP to place a BACK bet into the market with an offset LAY bet 2 ticks lower than the price we ask for. However, it is also asking BaP to monitor the market in case we have got it all wrong and the market moves away from our desired offset price. If it does move the wrong way by the number of ticks we have specified then BaP will close the position for a loss.
STOP_PLACE:{number of ticks}
Example in spreadsheet:
BACK OFFSET:2 STOP: 4 STOP_PLACE: 7
This command is the same as above but with insurance! In fast moving markets it is possible that the price at our stop setting (4 ticks) will no longer be available by the time our stop order reaches the market. So we can ask Bet Angel to place the stop bet beyond this. This means our stop loss is more likely to get filled. The great thing is that if the price four ticks away is still available then we will get it even though we placed the stop seven ticks away! This is because Betfair will give you the best price available at the time you place the order.
TRAILING_STOP:[TRUE/FALSE]
Example in spreadsheet:
BACK OFFSET:10 STOP: 4 TRAILING_STOP:TRUE
This command is doing the same as the previous except I have used a larger offset – ten ticks this time. With a STOP loss set at 4 ticks. However, now I have asked BaP to make this a trailing stop. What this means is that if the price of our selection moves in the right direction by a tick, then the STOP setting will be moved up by a tick also. Say, for example, our price has gone in the right direction for six ticks but then moves back again, the trailing stop is still four ticks below the current price – giving us a two tick profit instead of a loss. Very handy in markets where you may expect large swings.
- Part 2 - A few simple command examples
- Part 3 - Using Excel conditions to automate betting
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