Which brokers allow auto breakeven ?

Which brokers allow auto breakeven ?

Meaning i can set the trade to breakeven point(automatically) when achieving 30 pips profit etc.

look into trailing stops. FXCM has that feature to move up you stop loss but it also closes into the current price and close you out too early.

compro99 if you find the answer please let me know. I need exactly what you need.

thanks,
-soso

The best method to achieve this is to use a broker that utilizes TRAILING STOPS.

Once you're in a nice profit cushion, set the hard stop at BE with a trailing stop to lag behind at 10,15,20 pips or whatever you deem feasible due to market conditions.

Simple and quick.

I don't know if u will find a broker that does this - other than as mentioned a trailing stop. The software that was discussed in this thread:
http://www.forexfactory.com/forexfor...ead.php?t=5404
may give you the capability to do this.

compro99,

I have a MetaTrader expert that will move your stoploss to breakeven after reaching a specified number of pips, if you're interested.

stockwet

Year, that sounds great and i'm interested.

I was searchin' for somethin' like that on the internet but couldn't find anythin'.

regards

tojoko

Here's the expert.

There are 3 parameters.

- First_Stop: This is the number of pips you want the price to go before changing the stop.
- Move_Stops: This is a boolean where you basically turn the stop mechanism on and off. It's set to true by default.
- Differential: This determines where you want the stop to be set to. If set to 0, then it will be set to breakeven when the First_Stop target is reached. If set to -5, for instance, then it sets the stop to breakeven - 5 pips. You would lose 5 pips if it came back to that stop price. If set to 5, for instance, then it would be the opposite - breakeven + 5 pips and you would gain 5 pips if the price came back.

I use this function in another expert I have that takes profit out along the way. You can use this as a manual trailer, though, by changing the First_Stop value and Differential as you become more into the profit.

Use this at your own risk. I'm not liable for anything bad that happens by using this

Regards,

stockwet

PS: I can't upload the ex4 file, so, you'll need to save this file to your MetaTrader 4 / experts directory, open it with MetaEditor and compile it. Maybe the forum admin can enable uploads of ex4 files.

Thanks a lot! That sounds great. I love it to be stopped out 10 pips in profit. ;-)
I hope i get rich by false trades that way, 'cause they happen more often than
the 100 pips moves. ;-)))

regards,

tojoko

PS: You maybe could zip it and upload the zip file?

Being a new member, I apparently cannot start a new thread, so I'll have to revive this old one.

I need a broker and a platform which achieve the following automatically, i.e. without manual input after order entry:

1) Takes partial profit on X% of position at +N pips
2) Moves the initial stop loss on the remaining (100-X)% of position to breakeven at +M pips
[preferably also] 3) Allows dynamic stop trailing, for example at EMA(L)

The closest solution I know of is cTrader. Yet, I know that cTrader can achieve 1 and 2, BUT NOT AT ORDER ENTRY. With cTrader, you can augment an open position with auto-breakeven condition, but to my knowledge you can't do that at the time of order entry.

I would also prefer not to go the mql route. If no complete (i.e. tested) solution exists, I will do the programming myself on Interactive Brokers' TWS platform.

Best,
K