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Rxking

Rule 4 - Betfair

Question

Hi Guys 

Sorry if this was already asked before, but Rule 4 is still a brain-crack for me. 

Yesterday, I was scalping (back to lay) a horse around @60 and another horse was called non-runner just before the off (27% impact). 
Fortunately, I was trading with micro stakes (2€) and let it until the end, to avoid any mistake I would regret after. 

So, my question is, what should I do if this happens again? I was afraid of scratching it and having a huge loss (if the horse wins the race).

Sorry if my English wasn't clear enough, but I'm Portuguese and it's hard to put all the thoughts in the correct words ;)

Thanks in advance 

Ps. I'll introduce myself later on the right topic. 

Cheers 

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Hi if I understand correctly you're talking about the reduction factor. I'm still learning about this myself as I've largely traded greyhounds not horses but if I have an open position on a ladder, and I see or hear on the video feed that a runner is being removed, I quickly close my position before Betfair suspends the market and applies the reduction to my open position. You need to always pay attention to what's happening on the video as well as the ladders.

Hope this helps but there may be others with more experience and better advice on this issue. 

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My understanding is that the reduction factor is applied when a runner is removed before the off. If you have an open position when a runner is removed, and it's one of those at a short price, a reduction factor will be applied to the back or lay position you had opened. If you hedge before Betfair suspends the market then that reduction is applied to the back you opened and the lay you closed for example thereby cancelling each other out which is why I'll close an open position as soon as I see one of the favourites being removed.

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