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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 Trailing stop Breakeven order. Trigger level for Sell order should be reached on the Bid price at broker in order to activate the Trailing stop Breakeven order.
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