FX Algo Tools
Smart Tools For Better Trading
Break Even Trader
A trade management tool designed to protect open positions by moving stops to break even automatically
Break Even Trader is built for traders who want a simpler way to manage risk once a trade moves into profit. When attached to the chart, it can automatically place stop loss and take profit levels, then move the stop to break even once your chosen profit level has been reached.
What Break Even Trader Does
Break Even Trader is a practical trade management tool for traders who want more automation after entering a buy or sell order. It helps by placing stop loss and take profit levels automatically, then protecting the trade from turning into a loss once price has moved far enough into profit.
Why Traders Use Break Even Trader
Break Even Trader is designed for traders who want a more structured way to manage open trades. Instead of manually adjusting stops once a position begins moving in their favour, the tool can do that automatically according to user-defined levels. This can help support more disciplined trade handling, reduce hesitation, and make it easier to protect positions once minimum profit has been reached. This is an inference based on the described function of the tool.
How Break Even Trader Works
Once Break Even Trader is placed on the chart, it can automatically set the stop loss and take profit levels for a new buy or sell order. As price moves into profit, the tool monitors the trade until your chosen minimum profit level is reached. At that point, it moves the stop to the break-even level, or beyond break even if you choose to lock in extra profit.
- Places stop loss and take profit automatically
- Watches profit progress after trade entry
- Moves stop to break even when your target level is reached
- Can lock in additional profit beyond break even if desired
What Traders Can Look For
Volume Analysis Trader can help traders look for several useful clues in market behaviour.
Rising volume during a rally may suggest the trend is strong. Falling volume during a rally may suggest that the move is weakening. As a general rule of thumb on daily charts, if current volume is higher than the previous day’s volume, the trend may be more likely to continue. The indicator can also help reveal bursts of extreme volume, which may signal emotional exits, exhaustion, or possible reversal behaviour.
Key Features
Easy to use. Enter trade, let it manage stops and targets
Automatically moves the stop to break even
Sends alert trade has moved into profit
Helps support more structured trade management
Settings
Break Even Trader includes settings for stop placement, profit protection, and alerts so traders can adapt it to their own management style.
Section A
- Stop Loss — sets the stop-loss level
- Take Profit — sets the take-profit level
- Minimum Profit — sets how much profit is needed before the stop is moved to break even
- Profit Lock In — sets how much extra profit you want to lock in once the stop is moved
Example: if set to 0, the stop moves to the original entry price. If set higher, the stop can move beyond break even to lock in profit.
Section B
- Profit Alert — alerts the user when the profit target is met
- Profit Target Alert — sets the distance between the open price and current price at which the alert should sound
Section C
- Soundfile — choose the wave file used for the alert
- PlaySound — enables or disables the sound alert
- Message Box — enables or disables a message box when the alert occurs
- Send eMail — enables or disables email alerts
- Send To Mobile — enables or disables mobile alerts
Best Suited For
Break Even Trader may suit traders who:
- Want a simpler way to manage stops after entry
- Prefer rules-based trade protection
- Want to automate break-even handling instead of doing it manually
- Use fixed stop-loss and take-profit levels
- Value alerts when profit conditions are met
This is an inference from the tool’s described purpose and settings.
Important Considerations
Break Even Trader is a trade management tool, not a signal generator. Its role is to help automate stop and target handling after a trade has already been opened. The effectiveness of the tool depends on how its settings fit the trader’s entry method, risk management, and market conditions. This is an inference based on the description and settings provided.
Free
Frequently Asked Questions
Q. What does Break Even Trader do?
It automatically places stop loss and take profit levels when a buy or sell trade is opened, then moves the stop to break even once the chosen profit level has been reached.
Q. Can it lock in profit beyond break even?
Yes. The Profit Lock In setting allows the stop to move beyond the entry price so extra profit can be protected.
Q. Does it send alerts?
Yes. It can alert the user when the profit target is met, and alert delivery can be set through sound, message box, email, or mobile options.
Q. Is it complicated to use?
No. One of its main strengths is simplicity — once the trade is entered, the tool can handle the stop and target logic according to the settings you define. This is supported by the feature description you provided.
Q. Is this a trading strategy?
No. Break Even Trader is a trade management tool. It is designed to manage and protect trades after entry, not to generate entries by itself. This is an inference based on the product description.
Q. What after-purchase support will I get?
I love questions and feedback. I think it’s how I can learn and improve also as a developer. But, I also expect software users to read the instruction manual as most questions are answered in there. Even so please feel free to contact me via help page or by email. Usually, I respond in 24 hours. I am always glad to help.