![]() ![]() A setting of 2 will close half of your position when the stop loss is moved to break even, and the other half when your “LockInPipsAt” value is reached again. A setting of 1 means that your stop loss will be moved to break even only. Trades – With this setting, you can scale out of your trade. The idea is to leave the trade more room to move while taking some of the risk off of the table. I don’t personally do this, but I know of other traders that sometimes adjust their stop losses, while not quite bringing them to break even. For instance, you could set this EA to lock in -4 pips once break even event has been triggered. Note: As I mentioned earlier, you can also lock in negative pips. LockInPips – This is the setting that I spoke of that allows you to lock in your desired amount of pips once the break even action has been triggered. LockInPipsAt – This is the amount of pips you want price to move into profit before the EA moves your stop loss to break even. In the picture below, I have the EA set to move my stop loss 2 pips into profit once the “trigger” or 40 pips of profit is reached. With this EA, you could lock in +3 pips, for example, to cover your spread and/or commission costs. This is useful because most break even expert advisors don’t allow you to factor in the spread cost. You can lock in positive or negative pips. Unlike any other break even EA that I tried, this one allows you to set a custom break even point (lock in pips). I use this break even Expert Advisor all the time, so I thought you guys might find it useful. This EA allows you to set an amount, in pips, to trigger the EA to move your stop loss to break even, which helps with money management. #BEST MT4 TRADE MANAGER FREE FREE#It’s a break even Expert Advisor for the free MetaTrader 4 Forex trading platform. ![]() Hello, traders, I found a cool trade management EA. ![]()
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