FairBot - Trading (Single Bets)

This video shows how to trade using "single" bets on the Betting Exchange, Betfair with the help of the FairBot program. Also it explains the "Greening Up" (Hedging), "Stop Loss" functions, etc.

---

Closed Caption:

hello in this tutorial video i will tell
you about trading on the betting
exchange betfair using single bets with
the help of the fair but program we will
also study the greening up and stop loss
functions helping us in trading we are
reviewing version 2.96 the idea of
trading on betting exchange implies
placing two bets a backpack and I'll a
bet on one and the same market
participant but with different odds to
get a profit the back bet odds should be
higher than those of the late bet
otherwise we will have losses generally
if we assume the odds will increase we
place an initial a bet and only once it
has been matched we place the closing
back bet if we assume the odds will
decrease it is reasonable
the first place a back bet and only them
place la one so for single bets trading
in the grid interface we should first of
all deactivate the trading option on top
of the main program window if it is
still active then we should activate the
confirm option and set the required
values of the stakes in the back steak
and lace take fields for example 50
pounds each
after that we can place our bets for
instance let's place a late bet at the
odds 3.45 after it's been matched we
will place a back bet but the odds will
be higher than those of the late bet as
I explained before this is required for
getting a profit to do this we click any
cell in the back side and set the odds
in the appearing bet confirmation window
the odds should be higher than the ones
in the late bet for example 3.5 then
click Submit after that are closing back
bed stays in the unmatched bets section
after some time are closing backpack is
matched and we have a profit on the
participant we placed bets on
other market participants have zero
profit when trading in the grid
interface it is very comfortable to use
the swap option this option
automatically converts a back bet to LA
one with the same odds and vice versa
let's activate this option after
clicking any odds in the lace I'd we
will see that are laid bet has been
swapped to a back one with the same odds
the very same swapping is done when
clicking any odds in the backside in
other words a backpack is converted to
LA one this let's place a backpack at
higher odds than the late bet without
editing the bets odds
therefore we can deactivate the confirm
option in order to place our bets in
single-click mode that saves our time
considerably after that we will place a
layback by clicking the best odds in the
back side
and after sometime after all a bit has
been matched let's place a backpack by
clicking the odds 3.45 in the late side
after sometime both our bets
matched and we can see some profit again
let's consider the function greening up
next
of the fixing
profit on one of the market participants
we can share it equally among all market
participants together guaranteed profit
irrespective of the race winner
this is done with the help of the
greening up function also called edging
for that we should click the greening up
button appearing in the grid or ladder
interface next to the respective
participant it shows the anticipated
profit or loss for each market but this
event
after clicking this button the BET
confirmation window appears here we can
specify the bets odds as you can see
when changing the bets odds the state
changes automatically so the profit and
loss could be shared equally among all
the markets but this events
also we can activate the live Odds
auction it automatically changes the
bets odds to the current words to get
our bet matched right after sending at
the betfair
after clicking the submit button the bet
is sent the bed fair
once matched you can see that the
prophet has been distributed nearly
equally among all the market
participants now we are in profit in any
case
you can click this button again to
distribute the prophet among all market
participants more precisely
to deactivate the confirmation window of
the greening up function you should
deactivate the confirm greening up
option in this case when clicking the
greening up button the bet will be
immediately sent to betfair without the
BET confirmation window appearing
but we will keep this option activated
for further study of the program i would
also like to add a couple of words about
the peculiarities of the greening up
function especially about which odds are
used in this function if there is a
certain gap between the back and lay
arts in other words when there are one
or more so-called empty odds between the
highest backwards and the lowest lairds
currently available in the market
I without the bids available
it is very easy to see that in the
latter interface therefore let's select
the new market and go to the ladder
interface
then let's select one of the market
participants having this odds gap
as you can see there are empty
cells between the odds 11.5 and 13 they
have no bits
therefore there is a reasonable question
which ours will be used by the greening
up function in this case for this kind
of situation the greening up function
has two operating modes to make the
necessary selection you should open the
options screen from the view menu and go
to the behavior bookmark
here in the greening up price box we can
see two options use available price and
use the most profitable price use
available price uses the currently
available pods the advantage of this
option is that the greening up bet would
be matched immediately but the odds used
in this case are not very profitable it
has a negative effect on our profit or
loss we get after applying greening up
operation
use the most profitable price uses the
more profitable odds allowing to achieve
higher profits and losses but the
disadvantage of this mode is that a
greening up bet could stay unmatched i
would also like to note that if there
are no gaps between the back and lay
odds both these modes give one and the
same odds for the greening up function
to demonstrate the differences of the
modes of the greening up function let's
activate the use the most profitable
price option
then let's activate simulation mode and
deactivate the swap option
furthermore let's place any bet on
of the market participants having an
odds gap and demonstrate use the most
profitable price mode
in this case when clicking the greening
up button we can see that the default
odds are 13.5 they come before the odds
of 14
also we can see that in this mode our
loss is comparable Oh
now let's click the submit to place a
bet as you can see our bet remains
unmatched
now let's test use available price to do
that let's cancel our bet and select use
available price
as you might have noticed the greening
up button started showing a much higher
loss
let's try clicking it
in the BET confirmation window we can
see that the ants use now are not that
profitable and therefore we have a
higher loss then in use the most
profitable price mode
but after clicking submit our bet will
be matched
thus in this example you can see the
main advantages and disadvantages of
both modes of the greening up function
now let's choose a new market deactivate
simulation mode and start studying
trading in the latter interface
there is no real need to use the swap
option in the latter interface because
we have access to all the odds both the
back and lay bets that is why we can
avoid using it all so let's set the
appropriate steak with the help of the
steak buttons at the bottom for instance
100 counts thereafter
let's try to place a lay bets at lower
odds than the back bet for example let's
place a lady bet at the odds 1.66
after it's been matched let's place a
backpack at the odds 1.67
after some time our backpack is also
matched and we get some profit on a
participant
here we have started trading with the
lady bet hoping the odds will increase
but we could also start with the back
bet if we anticipate the odds will
decrease the leather interface also has
the greening up button on top
but the part
that the usage of this function in the
latter interface is more flexible and
not tied to the current odds we use the
fifth column of each section of the
ladder interface
when the p/l option on top of the ladder
interface is set to hedged PL the fifth
column shows the future amounts of
profits or losses after using the
greening up function at the
corresponding odds
for instance if greening up current
shows northpoint 61 it means that the
respective bet would be placed at the
appropriate odds namely at the odds 1.64
in the fifth column we can see this for
the odds 1.64
but apart from that we can also see
which value would be displayed for other
odds on the greening up button
the place a greening up bet with the
help of the fifth column of the ladder
interface we should left click the
appropriate value in this column right
next to the odds needed for instance
when clicking their the odds 1.52 in the
BET confirmation window we can see that
the steak is automatically calculated by
the program in such a way that profit or
loss are distributed equally among the
market participants
let's close the best confirmation window
disable the confirm
I'm greening up option and try to click
the other cells of the fifth column
as you can see fahrbot sends the
appropriate bets the betfair without
confirmation all other bets operations
are available here such as changing the
odds using drag-and-drop also canceling
the bet
like I have just demonstrated to you now
let's distribute the prophet among all
market participants by clicking the
appropriate cell in the fifth column
at the same time I would like
note that the Fifth Column can also show
the profit or loss for this particular
market participants only in other words
when using the fifth column we can share
the overall profit or loss in such a way
that this participant will be in profit
or loss depending on how successful are
trading was the other market
participants will be at zero profit for
this purpose we need to use selection PL
value of the ppl option on top of the
ladder interface for example by choosing
selection PL and clicking any cell in
the fifth column
right of that we need to activate the
confirm option we can see that this
participant sort of takes all the profit
or loss
and other participants are at zero
this function can be useful if you for
example want to level the effect of
greening up bet and return all the
profit or loss to a specific market
participant to continue let's return PL
to its original hedged PL value then i
would like to mention that so far we
have only considered favorable market
situations
now let's study the possible actions in
situations where the market started
changing against us for instance if we
place the initial back bet and after
that the odds started increasing or if
we place the laid-back and the odd
started decreasing in this case we can
close our position manually using the
appropriate bet or using the greening up
function but to do that it is better to
use the stop loss function we will
discuss this next by using the stop loss
function we can automate the process of
closing a position if the market moves
against this in other words when the
market participant reaches certain odds
there but can automatically place a bet
to close our position with the
predefined glasses
to demonstrate the stop loss function
let's go to a new market and place the
initial bet on any of the market
participants I let's open the position
for example like this
also let's place a closing bed which
remain unmatched for instance this way
after that we will need to limit our
probable losses using stop loss in case
the market develops against this the
place a stop loss bet you need to
right-click not left click as usual the
appropriate odds it is better to do that
when the confirm option is active to set
the necessary parameters of our stop
loss bet
in the Edit stop loss
and that there is a trigger odds
parameter it determines the odds
triggering the stop-loss bet
there is also a place at parameter it
determines the odds of a stoploss back
to be sent the betfair sometimes it
differs from the trigger odds parameter
so in the market reaches trigger odds
and a stop loss that triggers the
program requests less favorable odds for
a bet sent the betfair to have higher
chances for the stop-loss bet to be
matched
for example when a stoploss bet triggers
at the odds 2.28 it could be sent to
betfair with the odds 2.32 it is very
useful for in play market as there is a
time lag of in play delay in this case
and when the bet is sent the betfair the
odds could change considerably and it
could remain unmatched but if the
current market odds haven't changed
during the time of sending the stop-loss
bet with the answer 2.32 I they remained
2.28 betfair will automatically change
our bets odds to more favorable once I
2.32 would become 2.28
to activate stop-loss bet you need to
click the submit after that it goes to
the pending bet section and waits for
the moment when the odds reach the
appropriate level then fahrbot
immediately sends it the betfair
the distinguished stop lost bets from
ordinary bets in the pending bed section
their bookmarks stop-loss bets with ssl
that means single stop loss or just SL
which in turn means stop loss
also i find it very convenient that
stop-loss bets are marked in red in the
latter interface that allows us to
distinguish them from the rest of the
bets and change them just like any
ordinary bat in other words we can
change the odds using the drag and drop
feature or just completely cancel it
now let's change the odds of a stoploss
bet with the help of drag and drop and
move it closer to the current odds to
show how a stoploss networks
after some time and stop loss that
worked out and we can see we have a
certain loss
so it is better to can
all have closing bet since our position
has been closed already
afterwards we can distribute our loss or
remaining prophet among all the market
participants using the greening up
function for example like this
i would also like to mention another big
see when it comes to using the stop loss
function in the great interface
if swap mode is activated we cannot
place stop-lossed bet by right-clicking
since stop-loss bets are converted into
opposite stop-loss bets and they are
meaningless since they request
profitable odds and upwards
if we right-click in the late side and
swap mode is on our stop-lossed lay bet
would be converted the stop-loss back
bet with the same arts and this makes no
sense since this stop last bet would
trigger immediately
it would be better to replace this bet
with an ordinary back bet
but if we disable the swap option we can
place stop-loss bets in the grid
interface by right-clicking as well
this is all I wanted to tell
video i hope you have an idea of the
trade single bets and also the purpose
of the greening up and stop loss
functions
thank you for your attention