Moving stop-loss to a breakeven is popular among traders who wish to safeguard their gains and to let the profits run without incurring a risk of loss. With Move Stop to Breakeven MT4 EA, you can have your stop-loss orders moved to a breakeven point automatically when a positive price move covers some specific distance.
Move Stop to Breakeven MT4 EA is an expert advisor that can manage stop-loss of your trades.
In particular, this expert advisor can detect when the current price is at some specified minimum distance from the trade's open price and move the stop to breakeven.
In many cases, you might want to increment the stop-loss of a specific value when the price is far enough from the current stop.
This is similar to a Fixed Step Trailing Stop EA, but instead of continuously trailing the stop, this EA only moves it once.
Risk management is one of the most important aspect in trading. Having a stop-loss will protect you from margin calls and big losses.
In many cases, it is useful to have a trailing stop, which is a "moving stop". A trailing stop is a stop-loss where the value is updated when the price moves in the favor of the trade.
There are many types of trailing stop — it can be a fixed step change or it can follow some indicator.
In the case of Move Stop to Breakeven expert advisor, the stop-loss is moved to a breakeven point once some fixed step is conquered by the price.
There are several advantages of using Move Stop to Breakeven MT4 EA:
This expert advisor supports the following input parameters to be configured by the trader:
You can download the expert advisor using the link below and install it by following the presented instructions.
The installation is very easy to perform; the same is the use. Once you run the expert advisor, you can set all the necessary input parameters.
Make sure you enable Live Trading in the Common tab when attaching the EA and also in the platform's menu Tools→Options→Expert Advisors. Otherwise, it won't be able to modify orders.
To install the EA, please follow the instructions below:
Or you can read a more detailed instruction on how to perform the installation.
You can open a trading account with any of the MT4 Forex brokers to freely use the presented here expert advisor for MetaTrader 4.