'Red' up in play

[Sovereign]

Hello,

I want to introduce a rule in my strategy to 'red' up on an obvious lay loss (so the selection is likely to win) in play.

Provisionally, I've added a 'Close trade on Selection with Greening' rule, with a condition that 'Trading profit (with greening)' on that selection is less than x amount (up to the amount I'm happy to risk, probably about 2/3rd of my liability) using current market price. Its set to trigger once. I haven't had a lay loss today to see how it gets on, so thought I'd ask for thoughts in the interim!

As I know the market can be a little quick and volatile in play, would this rule and the conditions I've set be acceptable/the best way for doing this?

I just want to be sure there isn't a better way to go about it!

Thanks

[Sovereign]

Well, this worked exactly how I hoped. It cut it in half with a 'redding' up as the horse I layed rushed in to lose. Very happy indeed!