Exit Price
In this lesson, the Exit Price setting is explained, guiding you through how to manage the price at which you exit trades.
- Choose an Exit Target:
- If you want to exit your trades at a specific price, select Price and enter that price in the exit price field. For instance, in a back-to-lay strategy, if you enter between 5 and 10 and want to exit at 3, you would enter 3 here.
- Stop Loss: You can set a stop loss to limit potential losses if your desired exit price isn’t reached. For example, if you’re aiming to exit at 5 but are willing to cut losses at 15, enter 15 as your stop loss.
- Exit by Ticks:
- Ticks represent increments in odds. You can set your exit target based on a number of ticks from your entry price. For example, if you’re targeting 10 ticks with a stop loss of 5 ticks, the software calculates the appropriate exit prices.
- Exit by Profit:
- You can set a profit target in terms of points, where one point equals your stake. For instance, if you stake £10 and set a profit target of 1 point, the software will calculate the price needed to achieve £10 profit.
- Exit by Percentage:
- You can also target a percentage odds movement. For example, a 50% movement would mean the software calculates the exit price based on that percentage change from your entry price.
Important Notes:
- The software automatically adjusts for the direction of your trade (back or lay), so you don’t need to enter negative figures.
- Remember that a 50% movement in odds isn’t the same as simply halving the odds due to the structure of betting odds. For example, 50% of 10 in odds terms is closer to 5.5, not 5.
This lesson is crucial for refining your exit strategy, ensuring you maximize profits or minimize losses based on precise conditions.