Overview ~ Break Even
If you are in a multi-leg trade such as a stop-and-reverse or a closed-leg cost-average trade, and you quickly want to know what you need to do to achieve break-even so you don’t take a loss, this tab is ideal for getting that information FAST.
Let’s assume you have the goal of not taking a loss on your trade…
There are two ways to use this tab based on what you already know.
I’m already in the second leg…
You’ve already jumped in, so you’ve already set how many lots you have at risk. Now you want to figure out what price you need to aim for to get out at break-even. Click the top radio option on the Calculator break even tab.
Read this article for in-depth instruction in using this tab.
I’m ready to put on my second leg…
In this case you can take an educated guess at where a reasonable target for exiting the trade might be and use the Break-Even tab to figure out how many lots to use. Click the bottom radio option on the Calculator break even tab.
Of course, we’ve set this up so you can add as many legs as you need, so if you’ve already put on 3 legs of your trade and need to figure out either the exit price or the lot size of your 4th leg, you’d use it the same way.
This tab will work for you whether you have a relatively simple two-leg trade or whether you have managed your trade with a large number of individual trades. As one trade closes, simply click the Add a leg button to create a new column. We recommend not adding more than one column ahead of your current live trade though with this page. If you want to plan out a more involved multi-leg trade, try the Trade Input tab of the Calculator for that.
Once you create a new column for a new leg, you cannot delete that individual column. If you want to remove a column you’ve added in, you click the Clear All button and start with a clean slate.