If a trade moves in your favor, you can move your stop to your entry point so that you at least break even on the trade.
With the Break-Even Strategy app, you can now automatically move your existing stop to the break-even point.
Break-Even Strategy takes an existing open trade or pending entry order and adds a target level that moves the existing stop loss when triggered. After the trade reaches the target profit number of pips, the existing stop loss moves to either break-even or a user-inputted offset of break-even. Additionally, you have the option of this new stop becoming a fixed or dynamic trailing stop.
Note: The Break-Even Strategy modifies existing stops; it doesn’t create a new stop loss order. Likewise, a position’s stop loss order must be created before running the app.
The following parameters are available in this strategy:
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.
This strategy is only compatible with FXCM’s Trading Station Desktop. Additionally, an FXCM account is required (including free FXCM demo accounts).
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