The Auto Breakeven is an advanced strategy designed to assist in managing a trade by automatically adjusting the stop loss order prices.
Once the breakeven feature is activated for a trade, the stop loss order is moved to reduce risk. This means the order price will be adjusted to match the trade’s entry price or even a more favorable level, depending on the configured settings. This way, if the market reverses or reaches your entry price, your stop will protect the trade while respecting the applied offset settings.
It's important to note that configuring Auto Breakeven requires a predefined gain and loss strategy, also known as OCO. Learn how to set up an OCO strategy by clicking here.
How to Access the Stop Order Strategy Editor
To open the Stop Order Strategy Editor, go to the Trading menu:
Select Auto Breakeven, set the parameters, and save the strategy by clicking the "floppy disk" icon. It will then appear in the Stop Strategies list on the left:
Gain Trigger: Defines when the breakeven stop order will be placed, meaning when the Auto Breakeven operation will start. This parameter can be set in ticks, monetary value, or percentage (%), just like OCO orders.
Start Price Difference: Specifies where the breakeven stop order will be placed relative to the entry price. If set to zero, the order will be placed exactly at the entry point (Breakeven).
How to Apply the Breakeven Strategy to Stop Orders
To add a new Stop Strategy, go to the Trading menu again and select Trading Strategy Editor. Configure an OCO Strategy, then select the Stop Bracket in the designated field:
Once configured, select the OCO Strategy in the trading order panel.
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