Just an FYI for some of the folks here that use MT4 and may not be aware of it, there are several Expert Advisors over in the programming forum that can watch your trades for you and stop you out at predefined levels. Some of them are pretty complex. I used ManageTP when I was first starting out. It isn't very complicated, but it gets the job done and kept me from losing too many pips.
http://www.forexfactory.com/forumdisplay.php?f=69
http://www.forexfactory.com/forumdisplay.php?f=69