Breakeven Stops: At Entry or 1-2 Tic Profit? | Psychology and Money Management - futures trading strategies, market news, trading charts and platforms

Psychology and Money Management

This forum is where successful traders spend most of their time and where struggling traders never visit. The psychology and money management forum is where you learn to become a profitable day trader


Breakeven Stops: At Entry or 1-2 Tic Profit?

  #1 (permalink)

Chicago Illinois USA
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: Gold GC, Emini ES
Posts: 4 since Mar 2016
Thanks: 20 given, 0 received

Breakeven Stops: At Entry or 1-2 Tic Profit?

Experiencing a conundrum:

I can set a breakeven stop after so many tics of open profit in NinjaTrader, either automatically as part of an ATM or just dragging my original stop order. So far, I have been using the automatic route - which is nice because either the ultimate target is reached, or the breakeven (Entry +1 Tic) is reached (Heads you win, Tails you don't lose). Of course, there are times when Entry +1 is filled only to see the ultimate target get reached soon after - suggesting I learn to take some heat and move the stop myself after the retracement is over.

Could I ask for thoughts on this, please?

Thanks, and all the best!


Embrace methods that only fail occasionally and reject methods that only win occasionally
Reply With Quote