Break-Even Strategy

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.

Parameters

The following parameters are available in this strategy:

• Mode: Select ‘Market’ to run the strategy on existing open trades or select ‘Entry’ to run it on existing entry orders.
• Ticket ID: The ID number of the market order (if applicable)
  • All open market orders are displayed by default
• Order ID: The ID number of the entry order (if applicable)
  • All open entry orders are displayed by default
• Target Profit: The amount of profit in pips to trigger stop loss moves and trailing stop logic.
• Offset: Pip distance above or below the entry price (break-even is 0).
• TrailPips: If enabled, sets the distance of the trailing stop (Learn More about trailing stops)
  • 0 = Disable
  • 1 = Dynamic Trailing Stop
  • 10+ = Fixed Trailing stop, which moves stop-level in the direction of profit for each user-defined pip increment
• Debug: Set to “YES” (allows access to a trading log to troubleshoot issues).

Risk Disclaimer

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.

Requirements

This Automated Strategy is only compatible with FXCM Trading Station Desktop software. In order to purchase or download the app, an FXCM live account is required. Once downloaded, the app can be used on both live and demo FXCM accounts.