A large loss occurred today as a result of a bet placed in error. Although I’ve seen this before, the size of the loss made me investigate the problem.
Nearing the off time my bot stops trading and then there’s a break of 10 seconds to allow any bets placed to be matched. Then a greening algorithm runs 3 times, first to green at the available odds, then at 1 tick worse than available odds, finally at 2 ticks worse than available odds. The idea is to reduce any risk of leaving a bad position open.
On today’s event the first attempt placed a lay in error. This left 2 attempts to hedge out. Unfortunately both failed. Looking over my code, the greening part is probably the oldest. A quick look on the Gruss forum and the example code has been updated a few times, without me keeping up. The code I use is greening on old data. The most recent code greens on current data.
As the possibility of a similar error exists, I’m not prepared to carry on trading until I’ve fixed this code. Due to the amount of change required and testing I need to do, I’ve stopped Oscar and his American brother for now. Hopefully the coming Bank Holiday weekend will provide some opportunity to make the fix.