Moving Forex Stop Losses to Break Even After a Profit Threshold
Summary
The document describes a trade-management expert advisor that modifies an existing order’s stop loss after the position reaches a user-defined minimum profit in pips. Its stated action is to move the stop loss to the break-even level; it does not open trades or describe an entry strategy.
The author says separate files are provided for instruments with different quote-digit conventions, distinguishing four- or five-digit pairs from two- or three-digit pairs such as JPY pairs. The user’s main configuration task is to set the minimum break-even pip threshold. The document provides no performance results, testing details, execution rules for slippage or costs, or explanation of how break-even is calculated when commissions and spread are considered. It is therefore a narrow protective trade-management utility, not evidence of a profitable trading system.
Key ideas
- The advisor modifies existing orders rather than placing new ones.
- It moves a position’s stop loss to break even after profit reaches a configured pip threshold.
- Separate files are described for instruments with different quote-digit formats.
- The document gives no performance evidence or details about costs and execution.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.