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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.
Trigger level for Buy order should be reached on the Ask price at broker in order to activate the Breakeven order. Trigger level for Sell order should be reached on the Bid price at broker in order to activate the Breakeven order.
==Appearance==
==Applying Breakeven Exit Strategy==
* Drag-and-drop the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] to an active order or open position '''on the chart'''; or:* Drag-and-drop the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] to an active order or open position '''in the [[Depth of market (DOM)|DOM window]]'''; or:
* Right-click on the active order or open position on the chart to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Breakeven'''.
* Right-click on the active order or open position in the '''[[Depth of market (DOM)|DOM window]]''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Breakeven'''.
* Right-click on the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.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:
# Right-click the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] in the Exit Strategy menu to see the shortcut menu.
# Click '''Edit…'''
# Modify activate at profit and transaction costs values in '''Activate at Profit''' and '''Transaction Costs''' boxes.
Auto Attach Breakeven Exit Strategy to orders by one of the following methods:
* Right-click the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] in the Exit Strategy menu to see the shortcut menu, then check '''Auto Attach to Orders'''; or:* Double-click the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] in the Exit Strategy menu; or:
* Enable '''Auto Attach to Orders''' feature in the Place Strategy window when applying the strategy.
To save the parameters as a template:
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Breakeven icon http[[File://www.multicharts.com/img/wiki/strategies/35breakeven.png ]] in the Exit Strategy menu to see the shortcut menu, then click '''Save as Template'''; or:
#* Click on the '''Save as Template''' button in the '''Place Strategy''' window when applying the strategy.
# Modify default Breakeven Parameters.