How does Break-Even work?

I was wondering if anyone could tell me how break even works? For example:

I buy "something" at 1.5 USD, my stoploss is at 0.5 and my take profit is at 2.5.

When my target is hit (2.5) then the trade is done and will close down? I need to be able to set up multiple take profit targets, how do you guys do that? split up your orders?

Since i would like to buy at 1.5, have my stoploss at 0.5 and 2 different take profits, first one at 2.5 and second one at 3.5, When 2.5 is hit i want to move the stoploss to 1.5.

Also I'm using Metatrader 4, demo account of course. Sorry for my bad english but i hope that you understand.

Greetings!

You'll have to place your oders in multiples of the number of take profit levels you want. I think what you mean by breakeven is thst once in profit, you may move your stoploss up to a level where if triggered, your loss is zero.

Then it was what i thought. Thank you very much for your answer!

yup, you may not gain but on a positive note you did not lose! thats break even, at least its way better than losing

Going to second the last post but just one quick question, why not use a trailing stop..given your query..

you could use expert advisors (ea) for that. One of the most famous is the mptm (multi purpose trade manager) by steve hopwood, see also for details/further links: http://www.forexfactory.com/showthre...80#post7389380