Difference between revisions of "SetBreakEven"
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− | Closes out the entire position or the entry if it is at the break even point after the profit has reached the specified value; generates the appropriate [[Stop]] order depending on whether the position is | + | Closes out the entire position or the entry if it is at the break even point after the profit has reached the specified value; generates the appropriate [[Stop]] order depending on whether the position is Long or Short. |
[[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether '''SetBreakEven''' will be applied to the entire position or to each contract or share individually; by default, '''SetBreakEven''' is applied to the entire position. | [[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether '''SetBreakEven''' will be applied to the entire position or to each contract or share individually; by default, '''SetBreakEven''' is applied to the entire position. |
Latest revision as of 16:45, 19 February 2012
Closes out the entire position or the entry if it is at the break even point after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is Long or Short.
SetStopPosition and SetStopContract or SetStopShare functions determine whether SetBreakEven will be applied to the entire position or to each contract or share individually; by default, SetBreakEven is applied to the entire position.
Usage
SetBreakEven(Profit)
Where:
- Profit - a numerical expression, specifying the currency value of the profit that must be reached first.
Notes
- This function can only be used in signals.
- The SetBreakEven function does not factor in commissions or slippage.
Examples
Generate an exit order for the entire position if it is at the breakeven point after position profit has reached $50:
SetStopPosition;
SetBreakEven(50);
Generate an exit order for the entry if it is at the breakeven point after per contract profit has reached $10:
SetStopContract;
SetBreakEven(10);