Break Even Point
This is a MetaTrader 4 version of Auto SL Placer.
It helps scalper to place his manual orders faster so he can repeat his orders without worrying about making a mistake when calculating Stop Loss. And change the SL, when profit has reached the specified conditions. Like Trailing Stop.
- The price has a strong movement and breaks the upper Fractals at M5 chart.
- You want to open a long position to get small pips profits (scalping).
- At this stage, you will feel confused about placing your SL, while prices continue to soar up and you do not want to lose this opportunity but you need to prepare your values of SL/TP. In this case a trader usually places his trade without SL;
- After a certain profit you will close your position manually but if the price bounces back and drops down, your position will become negative before your SL is successfully placed; this could be a disaster for your account if you do not have a good trading physiology and cut your losses.
- You place your SL manually after your order is placed but at a volatile market it will be hard as the price is moving away and you are late to execute your SL. So you need to close your trade manually and this could make you feel so tired after closing several positions.
That is a common issue that happens with almost all scalping traders around the world. However using this Expert Advisor will make you happier as it will place your pre-calculated SL automatically right after you place your scalping orders. So you can continue scalping without worrying how to place SL at a very volatile market.
- Places automatic Stop Loss.
- Moves Stop Loss automatically.
- No need to continuously monitor your chart.
- Only involves using this EA, so it is easy.