The purpose of a Break-Even Stop is to make a trade risk-free once price moves in your favourable direction beyond a certain point. A simplest example could be to move the stop loss to entry price once the price has reached 50% of the given profit target.
To illustrate the most simple use case lets take above example shown in the image.
Trade Entry Price = 0.00206560
Stop Loss (SL) at -5% of entry price
Take Profit target 1 (TP1) at 10% of entry price
Take profit target 2 (TP2) at 20% of entry price
If a user has enabled Break-Even option for this trade then following will happen:
TP1 is HIT -> SL will move to entry price 0.00206560
TP2 is HIT -> SL will move to TP1
TPn is HIT -> SL will move to TP n-1
If there are more profit targets then SL will keep moving up the ladder in a similar fashion.
NOTE: Trailingcrypto supports Break-Even stop functionality only in the case of multiple profit targets. If a trader wish to use a single profit target then it is suggested to create two profit target and set Volume to zero in the first target.
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