Move Stop to Breakeven

[PrinceLe]

I don´t fully understand the first answer. So will it go to breakeven once I am 1 point in profit or not? Or is it an either or situation where I either get the breakeven at 1 point in profit or breakeven at a price where commission and spreads are factored it?

 

[Enivid]

I don´t fully understand the first answer. So will it go to breakeven once I am 1 point in profit or not? Or is it an either or situation where I either get the breakeven at 1 point in profit or breakeven at a price where commission and spreads are factored it?

Which parameter are you setting to 1? If it's Points of distance from the open price, then upon reaching 1 point of profit, it will see that it cannot set the SL to BE, accounting for spread and commission. Once the level of profit is reached when it can account for them, it will move the SL to BE.
If it's Additional profit in points to add to BE you were talking about, then it will calculate the the SL to cover the spread and commission and to that it will add 1 additional point. It will then follow the same procedure I outlined above.

 

[PrinceLe]

alright so basically it is either I move to breakeven at 1 point in profit or I get moved to breakeven once swap and commission can be accounted for but not both?
eg. Price moves one point in profit and I get put to breakeven and after my position reaches a point where swaps and commissions are covered the sl then moves higher to that price. If that´s not possible with this ea then my next question would be if earnforex has an ea that is capable of this?

 

[Enivid]

alright so basically it is either I move to breakeven at 1 point in profit or I get moved to breakeven once swap and commission can be accounted for but not both?
eg. Price moves one point in profit and I get put to breakeven and after my position reaches a point where swaps and commissions are covered the sl then moves higher to that price. If that´s not possible with this ea then my next question would be if earnforex has an ea that is capable of this?

Sorry, I am completely lost. Either I don't understand what you are saying or I don't understand how you arrived at such a conclusion.
Let's start from the beginning. What exactly are you trying to achieve?

 

[aslan]

Hi Enivid;

I am using PS when opening any position on MT5 and I am using instant type order. I am taking partial profits so PS is sending 2 orders to MT5. When TP1 is hit I want stop loss be moved to breakeven. May I do that using Move Stop to Breakeven EA? If so how can I do it? Because there are 2 orders with different TPs however they are originated from the same order and their magic numbers are the same. Kindly advise,

 

[Enivid]

Hi Enivid;

I am using PS when opening any position on MT5 and I am using instant type order. I am taking partial profits so PS is sending 2 orders to MT5. When TP1 is hit I want stop loss be moved to breakeven. May I do that using Move Stop to Breakeven EA? If so how can I do it? Because there are 2 orders with different TPs however they are originated from the same order and their magic numbers are the same. Kindly advise,

Yes, you can. You just need to set the first parameter (Points of distance) to your first TP1 distance. For example, if you open buys at 1.15500 and set TP1 to 1.15600 and TP2 to 1.15700, you set that value to 100.

 

[aslan]

So, if we continue from the example you gave in your message above, 'points of distance from the open price' will be set as '100' (please see the attached screen shot), am I right? One final question is, do I need to enter 'magic number' and/or 'comment'? Or will entering the point of distance be enough? Many thanks four your support,

 

[Enivid]

So, if we continue from the example you gave in your message above, 'points of distance from the open price' will be set as '100' (please see the attached screen shot), am I right? One final question is, do I need to enter 'magic number' and/or 'comment'? Or will entering the point of distance be enough? Many thanks four your support,

It makes sense to enter Magic Number or Comment only if you want to filter out some other positions, which you don't want to be affected. If you don't have any other positions, it's unnecessary.

 

[Melanierdc28]

Hello Enivid !
I have a question to ask you about how the break even functions. I trade 2 forex pairs on mt5 and also us500. I enter all my positions at the same time but with different levels, and I need to set a different break even level for all of them. Is that what the EA does ? Can it apply to three different positions at the same time with three different pip levels to reach before changing the stop loss ? For example, for one position, I will need the break even to be applied after 30 pips in profit, and for another position, I will need the break even to be applied after 80 pips in profit. Does the EA do that ?
Thank you for your help.

 

[Enivid]

Hello Enivid !
I have a question to ask you about how the break even functions. I trade 2 forex pairs on mt5 and also us500. I enter all my positions at the same time but with different levels, and I need to set a different break even level for all of them. Is that what the EA does ? Can it apply to three different positions at the same time with three different pip levels to reach before changing the stop loss ? For example, for one position, I will need the break even to be applied after 30 pips in profit, and for another position, I will need the break even to be applied after 80 pips in profit. Does the EA do that ?
Thank you for your help.

You will need three different instances of this EA each set to work with its own symbol.