Breakeven: Difference between revisions
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[[File:BreakevenOnChart.png|thumb|right|Breakeven Exit Strategy on the chart]] | [[File:BreakevenOnChart.png|thumb|right|Breakeven Exit Strategy on the chart]] | ||
[[File:BreakevenInDOM.png|thumb|right|Breakeven Exit Strategy in the DOM window]] | [[File:BreakevenInDOM.png|thumb|right|Breakeven Exit Strategy in the DOM window]] | ||
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Breakeven is a conservative exit strategy for exiting the market without losing any money (counting your transaction costs). If a long position is held, then the strategy will place a sell stop; and vice versa, if a short position is held, then it will place a buy stop. Define the profit needed to trigger this order, and once it triggers it will become active. If the price is reached, then the order will be executed. | Breakeven is a conservative exit strategy for exiting the market without losing any money (counting your transaction costs). If a long position is held, then the strategy will place a sell stop; and vice versa, if a short position is held, then it will place a buy stop. Define the profit needed to trigger this order, and once it triggers it will become active. If the price is reached, then the order will be executed. | ||
==Appearance== | |||
Breakeven Exit Strategy is displayed as yellow marker on the chart connected to the order price label on the price scale with a dotted line and as yellow marker in the DOM window. | Breakeven Exit Strategy is displayed as yellow marker on the chart connected to the order price label on the price scale with a dotted line and as yellow marker in the DOM window. | ||
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<div style="background-color: #E3FBE5;">Note: When Breakeven Strategy is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div> | <div style="background-color: #E3FBE5;">Note: When Breakeven Strategy is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div> | ||
==Applying Breakeven Exit Strategy== | |||
* Drag-and-drop the Breakeven icon http://www.multicharts.com/img/wiki/strategies/35.png to an active order or open position '''on the chart'''; or: | * Drag-and-drop the Breakeven icon http://www.multicharts.com/img/wiki/strategies/35.png to an active order or open position '''on the chart'''; or: | ||
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* Right-click on the Breakeven icon http://www.multicharts.com/img/wiki/strategies/35.png in the Exit Strategy menu to see the shortcut menu and check '''Apply To Open Position'''. | * Right-click on the Breakeven icon http://www.multicharts.com/img/wiki/strategies/35.png in the Exit Strategy menu to see the shortcut menu and check '''Apply To Open Position'''. | ||
==Breakeven Strategy Parameters== | |||
To modify default Breakeven Parameters: | To modify default Breakeven Parameters: | ||
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To save custom parameters, click '''Save'''. | To save custom parameters, click '''Save'''. | ||
==Auto Attach== | |||
Auto Attach Breakeven Exit Strategy to orders by one of the following methods: | Auto Attach Breakeven Exit Strategy to orders by one of the following methods: |