Break-even
Break-even (BE) protects an open position by putting its stop at your entry price, or a few ticks past it in profit. One click on the BE button in the trade panel does it.
What BE does
When you're in a position, the trade panel shows a BE button. It does one of two things.
- You have no stop. It places a stop for the whole position at your entry price. On Rithmic the tooltip adds that Rithmic links the new stop to your target if you have one, and that we cancel it when the position closes.
- You have one stop for the whole position, and it's worse than entry. It moves that stop to your entry price.
BE never loosens a stop, never adds a second one and never exits at market. On a long, the stop price is your average entry rounded up to the tick. On a short it's rounded down. A fill at that stop can't lose ticks against your entry.
Hover over the button to see what it will do. The tooltip reads like Break-even: move your stop from 6000.00 to 6002.25, your entry or Break-even: place a stop at 6002.25, your entry, and ends with (right-click to set the offset).
Use BE
- Get into a position in the DOM.
- Wait until price is in profit and past your entry.
- Click BE in the trade panel.
The button is hidden while you're flat. When BE isn't possible it's dimmed, and the tooltip says why. If trading is locked in the DOM, a window titled Unlock this DOM? opens, same as for any other order action.
Set the BE offset
The offset puts the stop a number of whole ticks past your entry, on the profit side, to cover costs. With an offset of 2 on a long, the stop goes at entry plus 2 ticks, and the button reads BE +2.
- Right-click BE. A row labelled BE offset opens under the button.
- Click + or - to change the number of ticks. The range is 0 to 20.
- Click anywhere else, or press Esc, to close the row.
The offset is a main trading setting, so the DOM and the chart use the same value. You can also set it in Settings → Trading under Break-even offset: + ticks beyond entry. The default is 1 tick.
When BE is unavailable
Before anything is sent, we check your position and your orders. If the plan doesn't work, the button is dimmed and the tooltip gives the reason.
| Tooltip | What to do |
|---|---|
| Break-even isn't available on this connection yet. | Your connection has no break-even. Place the stop yourself. |
| The entry price isn't known yet. Try again in a moment. | Wait for the position to update. |
| Waiting for a live price. | Check your market data connection. |
| Price is at or below your entry. Break-even becomes available once price is above entry. | On a short the text is reversed. Wait until the trade is in profit. With an offset it reads Price must be above 6002.25 for BE +1. (below, on a short). |
| Your stop is already at or beyond entry. | Nothing to do. You're already protected. |
| This position has more than one stop. Move them on the chart. | Move the stops yourself. |
| Your stop is a stop-limit. Move it on the chart. | BE only moves stop market orders. |
| Your stop covers 1 of 2 contracts. Move it on the chart. | BE needs one stop for the whole position. |
| This position has a target that isn't paired with a stop, so a break-even stop would be cancelled. Manage its exits on the chart. | Manage the stop and the target on the chart. |
If your position or stop changes between your click and the send, nothing goes out and you get The position, entry or stop changed. Review break-even again. Click BE again once the button updates.
Tip. SL and TP on the ticket protect a position from the moment you enter. BE is for later, once the trade has moved your way. See Strategy, brackets, SL and TP.
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