Placing, cancelling and changing orders using the ladder
Placing an order on the ladder interface is simple and easy. With your stake values pre-set all you need to do is point and click your mouse to place, cancel or amend orders.
In this example, to open our position, we have clicked on the lay side and Bet Angel has placed a £500 lay order. We used a £500 stake because every price movement in this market will net us £10 profit as the market moves 2% at a time. This position is now shown in the trade calculator and the matched bet area. As the position moves into profit we have then moved our mouse over to the other side of the ladder [see inset graphic] in order to get ready to exit the trade. We don’t know at this stage when the trend will end but we have our mouse ready to exit the trade immediately by clicking on the opposing side of the book. You can also use the trade calculator to exit if you wish as this also gives you the option to automatically hedge your profit at the same time.
If you place an order on the ladder and it is unmatched it will appear in the white area. In the next example we have clicked to back £200 at 3.60, but because that back price is not available in the market our unmatched bet appears on the left white area, the back side, as an unmatched order for £200. You can see from the market depth all £200 is ours. You can also see that we quickly put another order in the market to lay at 3.55. All but £42.96 has been matched and the remainder shows as an unmatched order. If an order is partially matched the unmatched amount appears in the white area and the net stake area is automatically adjusted.
Any orders in the white area of the ladder can be manipulated by clicking. Click once on an unmatched order to cancel that order. You can also click and hold any order in this area. This allows you to ‘drag and drop’ the order to another price. It often makes sense to move your mouse to click and hold unmatched orders. This means you can now move the order quickly if you need to. You will be able to drag it to new price to get matched quickly if needed. If the order matches while you are holding it, the order disappears. If you change your mind, simply drag the order off the side of the ladder to an empty area and the order will also be discarded.
You can also cancel all orders in a market on either the back or lay side of the ladder by clicking one of the ‘Cancel’ buttons at the top of the ladder.
You can also cancel using the hot keys.
To cancel all unmatched bets in the left column press the ‘Z’ key. To cancel all unmatched bets in the right column press the ‘X’ key.
