so I ****ed up another bank

[pkrvie]

Had a nice trade going (full bank) wanted to green up for a 10 tick profit and Geeks toy tells me that "exposure or current balance exceeded".

I have done such trades in the past and suddenly its not working any more, what did I do wrong again?

[custard]

This is not a fault of The Toy but one which is due to Betfair. You should never use 100% of your bank in one bet. Other threads recommend 95% to ensure you can trade out.

[LuckyYou]

Yes and most of the people never use more than 35% as a bet in their traders. Think about that.

[1/4 of a millionaire fund]

what did I do wrong again?

You used your full bank, again!

This crops up frequently and still people ignore the advice, this isn't a geeks toy problem it's due to the way the betfair site works. If your balance is nil you won't be able to balance out, don't use your full bank in a trade.

I've seen people suggest keeping 1p aside but even then non runners may mean your balance may go negative if you've already done other trades, just don't use anywhere near your full bank full stop. Anyone using the site knows it's only a matter of time before you get caught in a site crash don't do it.

Plus it's also worth checking what exposure limit you have in the Account Summary on the site. If you have a low exposure it won't allow you to close using the hedge button in one go no matter how big your balance is if the closing trade is bigger than your exposure.

ie you back £50 @ 110 and now want to close out at 100 for £55, this would mean that your closing bet has an exposure of £5445. If your exposure limit is lower than that you cannot close in one hit even if you've £50,000 in your account. I've known people with exposure limits of £1000 so it's easy to get caught out.

[pkrvie]

You used your full bank, again!

look, I dont see any problems to use the full bank if the signals are clear and the risk is low - however I never saw, read or heard that you cant green up if the balance is zero and I never had this problem and I trade the full bank most of the time. It was even impossbile to cut the losses that enfuriates me the most.

As I said, I would have made 10 ticks on this bitch but could not get out - sure enough the 2:1 favorite - I backed and wanted to trade out - came second.

[LuckyYou]

look, I dont see any problems to use the full bank if the signals are clear and the risk is low - however I never saw, read or heard that you cant green up if the balance is zero and I never had this problem and I trade the full bank most of the time. It was even impossbile to cut the losses that enfuriates me the most.

As I said, I would have made 10 ticks on this bitch but could not get out - sure enough the 2:1 favorite - I backed and wanted to trade out - came second.

OMG... You know what is the most important rule in trading? YOU MUST KNOW HOW THE SISTEM WORKS DEAR. Now go read and stop trade until you know that. for 54647567 time - The Toy has nothing to do with your ignorance!

[LuckyYou]

Excuse me for my rudeness but I just can't imagine how you want to win if you don't know a simple mathematics. Did you ever tried to do some arbs between bookies - that may help you understand what you are doing?

[custard]

There is a bug in the Betfair system and it doesn't matter which software you use. Never bet all of your bank ( 100% ) for the reasons stated succinctly and accurately by Millionaire Fund above.

[pkrvie]

OMG... You know what is the most important rule in trading? YOU MUST KNOW HOW THE SISTEM WORKS DEAR. Now go read and stop trade until you know that. for 54647567 time - The Toy has nothing to do with your ignorance!

I dont know who the ignorant is. I am a rookie, I might have made a mistake but you are way out of line here. You should thank god that there exist stupid people like me that make you mirrions of money.

Dear god will there ever be a betting forum without stuck-up members...

[LuckyYou]

I dont know who the ignorant is. I am a rookie, I might have made a mistake but you are way out of line here. You should thank god that there exist stupid people like me that make you mirrions of money.

Dear god will there ever be a betting forum without stuck-up members...

Ok don't read my posts. Read the other ones we are all trying to help. People learn from their own mistakes. I hope they are.

[pkrvie]

Ok don't read my posts. Read the other ones we are all trying to help. People learn from their own mistakes. I hope they are.

I have read them.

OMG... YOU MUST KNOW HOW THE SISTEM WORKS DEAR.

SOME OF THEM SEEMED A LITTLE IMPOLITE YOU KNOW? MAYBE YOU UNDERSTAND NOW.

However I never read anything about Betfair being bugged

There is a bug in the Betfair system

anyway, THANK YOU FOR THE WARM WELCOME

[custard]

However I never read anything about Betfair being bugged

Well, you have read it now. So, listen to what we have said and do not do the same thing again.

[rockaren]

Let you know what happened long time ago.....

We say my max exposure was set to 1000.......I had 5000 in my account...
After placing a bet, 1000 matched on a player...when trying to hedge it wasn't possible !!!!

I get a message about max exposure....bla bla bla.....wtf ??!!!!

I found out my current exposure was 1000.01........how about that ? How was it possible ?....
There was nothing to do...the only way was to increase my max exposure allowed by Betfair....such change takes time and before I could do it the match was over...."my player" lost his match and i lost big part of my bank...happened maybe 3 or 4 years ago....

Another lesson to learn about Betfair the hard way...

In this case I used 20% of my bank and still could NOT do anything to change my position on the market....think about it in future...

[luckynumberslevin]

Dear god will there ever be a betting forum without stuck-up members...

:Welcome pkrvie. Best advice is to only ever trust your own actions and leave something in reserve for a rainy day. Stick to your gameplan and I'm sure you'll do fine.

I for one am not stuck up member so :Welcome fellow forum member.

[1/4 of a millionaire fund]

SOME OF THEM SEEMED A LITTLE IMPOLITE YOU KNOW? MAYBE YOU UNDERSTAND NOW.

Ahh, you should have mentioned you wanted a more sympathetic reply rather than explanations of why and where things went wrong.


Chin up, I'm sure you'll get it back soon enough , we've all done it etc etc