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- Trading Robots
- Breakeven Strategy
Breakeven Strategy
Find the Right Edition That Fits You
Scalperology Ai MT5
Test it Freeπ
Global
Pairs:
AUD/JPY
AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
30-Day Profit:
0%
7-Day Profit:
0%
Support:
24Ρ
7 via Telegram
Breakopedia Ai MT5
Test it Freeπ
Global
Pairs:
AUD/JPY
AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
XAU/USD
XAG/USD
XBT/USD
30-Day Profit:
0%
7-Day Profit:
0%
Support:
Developer
What is the Breakeven Strategy?
The Breakeven Strategy involves adjusting stop-loss orders to the entry price once a trade has moved a certain distance into profit. This approach seeks to eliminate the risk of loss, allowing traders to execute trades without the fear of losing money once the market moves in their favor. πHow Does It Work?
The strategy essentially entails the following steps:- Open a trade with a predetermined stop-loss position.
- As the trade moves into profit by a specified number of pips, adjust the stop-loss to the entry price.
- This action locks in gains and prevents any loss on that trade.
- Additional settings may allow for moving the stop-loss slightly above the entry price to cover transaction costs, termed as "Breakeven Plus." π°
Using Expert Advisors
Several Expert Advisors (EAs) are designed to manage breakeven levels automatically, such as:- Tailing Stop and Breakeven Management EA: This EA allows traders to set trailing stops and breakeven levels for trades, customizing settings based on their trading strategy.
- Auto Breakeven EA: This automation automatically adjusts the stop-loss to the breakeven point, freeing the trader from manual adjustments.
- Break Even and Trailing Stop EA: Specifically enables breakeven and trailing functions for both manually and automatically opened trades.
Advantages of the Breakeven Strategy
This strategy provides several notable benefits:- Eliminates the risk of loss on profitable trades, thus providing peace of mind.
- Allows traders to engage in trades more freely, knowing that they can secure profits effortlessly.
- Can be easily automated with the help of EAs, enhancing usability for both novice and experienced traders.
Considerations When Implementing the Breakeven Strategy
While employing this strategy, certain considerations should be noted:- Market volatility can result in premature closures when setting breakeven levels too tight.
- Performance and settings of the EAs should be tested extensively in demo environments before live trading.
- It's vital to calibrate your entry and breakeven points to accommodate trading costs effectively.