Create a New Strategy: the Basics

After every market refresh, Ipposnif checks against all the runners of that market, if the conditions specified in the strategies are verified.

When all the conditions of a strategy are verified, the strategy places the bet and creates its container: the trade.
Every Ipposnif strategy produces trades. The trade is one instance of the strategy and it is created when the first bet of the instance is triggered.
Some strategies create only one bet every trade, other strategies create more than one (for example strategies that use the second bet to hedge the first one).

The whole behavior of the strategy and all its properties and conditions are contained in a single xml file.
In the XML code of the strategy there are the instructions about:

  • On which markets to place bets
  • When to place a bet
  • What price and size the bet has
  • How many bets each trade, how many trades each market, how many open trades at the same time
  • When to update, delete or hedge a bet
  • Reset functionality

Ipposnif is a software that plays real money and can place tens of bets every second: so be aware that if a strategy is malformed, its balance can be used up in a few seconds.
The risk can be reduced following this advice:

  • Before creating a new strategy please read carefully the references and spend some time observing the strategies shared with the program.
  • When testing a new strategy, never give a capital greater than is needed to test it.
  • Specify a Betting Time Frame for the strategy. This to avoid that all the markets are eligible for betting at the same time.
  • Specify the Overround Range within you want to place bets. This to avoid placement of bets in unfair markets (if not intentionally wanted).
  • Set up the strategy attribute "max_liability" to the proper size.
  • Set up the program options "Max Day Loss" and "Max Total Liability" to the proper sizes.
  • A new strategy, depending on its complexity, can require quite a long time of testing and debugging. Some edge cases will be discovered only running the strategy. So keep monitoring it until you are completely confident in its behavior.