10. Using Geeks Toy III

You have already seen in the previous tutorials Back, Lay & Trading how to place Back and Lay bets on the Geeks Toy, where you could see how to place bets in the Ladder interface. However it is good to know a little bit about some of the other key advanced features that will help you during your trading...

Market & API status

In this window, you can monitor what is the connection status of the Geeks Toy and betting exchange. Geeks Toy connects to the betting exchange through a set of different protocols and functions, which are collectively called API. Through the API Geeks Toy connects to Betfair and Betdaq and retrieves data from them, which it then displays on your computer. When you place a bet in the program, this bet is sent from your computer via the API to the betting exchange, etc. The API is a bridge between you and the exchange and therefore it is very important for you to monitor the health of this bridge.

The Market & API Status window monitors the connection to betting exchange. If the connection is somehow unstable, it can alert you and you can stop trading. It is dangerous to trade with real money if you have an unstable connection to the betting exchange, whatever the cause, and therefore in such a situation it is better not to trade.

Connection to the Exchange is okay – there are 11 data calls per second taking 53ms to complete.

Connection to the exchange is unstable – there are 5 data calls waiting for a response, the longest of which has been waiting 1906ms

In this box there is also a clock that shows the remaining time to the start of the event or time, or when in-play, how long since the event started. This window also has the Cash Out (hedge) option – once you click it, you will collect all your winnings from the market or stop your losses. More precise information about the timekeeping & cash out method can be found in the user manual.

Audio Alerts

Within the program you can set audio alerts for certain things such as bets being matched, etc. Alerts are a great tool. If you trade horse racing before the start, to avoid having to constantly monitor your watch, Geeks Toy warns you that the race is about to start so you can close your positions in the market.

Likewise, you can set the sounds as a warning that your bet or part of a bet was matched. The audio alerts are an essential tool for many traders.

Staking & Tools

Everyone needs to place bets in the software. To place a bet you want there is the betting menu and its principle and how it works is explained in the video above. However, there is also a separate window in the Geeks Toy titled "Staking & Tools", where you can create your own betting options and also use other functions.

For example, Stop Loss function is known especially for people in financial markets. In the Geeks Toy, you can set up the automatic closing your position if the market turns against you. You are never going to make a profit on every single trade and it is not always easy or quick enough to close your losing position manually. For this purpose, there is the Stop Loss function, which can do it for you.  As with all functionality, I suggest you study the user manual and try them in training mode until you are confident of their operation.

Keyboard Shortcuts

This feature is for advanced users, but it's definitely good to know about them early on. Thanks to using keyboard shortcuts you can control program Geeks Toy with both hands, giving you an even greater competitive advantage over those who just use a mouse.

You can set different shortcuts for some areas of the software, so you will much quicker and accurate control over the software. In the betting exchange market it can quite often make a difference, because time is money.

Personally, I already can't imagine trading on Betfair and Betdaq without keyboard shortcuts. It is clear though, that it is first necessary to learn Geeks Toy with a mouse, and then to add more options when you are more adept with the software. In addition, it takes time to learn the shortcuts and take full advantage of them, but it's good for you to be aware they are there for later in your journey.