With a little help from my friends....

Hi there!

With the intention of spending less time looking at the screen I am looking for a trading setup which allows me to:

Set a trade with 100 pip stop loss and have the platform/broker automatically move my stop to B/E when it goes 40 pips in profit. (or something similar)

I have looked in to this with metatrader only to find out that the platform must be running and connected to the internet to move my stop for me.

Is there another way to do this??? Surely there must be a way to program an order in which will follow the simple algorithm outlined above without relying on a trading station such as metatrader???

I have been trading for about 5 years but I have not had much experience trading anything other than spot forex at fairly reputable (but still small) forex brokers.

Any help would be much appreciated!!!
Cheers.

I beleive you could have this type of order automated with an EA or script in Metatrader, however, I think you would still need to have your computer running.

A possible solution is to run your trading account through a hosted server. There are some options out there allowing you to do this for under $50 per month. Or, just leave your computer on.

In summary, Metatrader may not be the best platform for you.

Check out MB Tradings Navigator platform or FXCM's non-metatrader platform to see if they can handle this order. A quick phone call to each broker should get you your answer.

Thanks for the help Frank, I appreciate it.

The hosted server idea seems like a viable option.

I would prefer to have it available on the broker hosted trading platform, I just feel it would be more secure - less apt to crash or do something wierd.

This year I am beginning to trade a substantially larger account and I want everything to run smoothly....

I will keep looking around.....

It's better to keep everything in-house.

If you're using metatrader, there's no move-to-breakeven function in the terminal or on the broker side. You will need to have an EA or something similar running.