The BreakEven Offset feature enhances PickMyTrade’s Tradovate automation by giving traders more control over how stop-loss levels are adjusted once the trade moves in profit.
Earlier, users could only move their stop to breakeven.
Now, with BreakEven Offset, you can move it slightly beyond or below breakeven, securing profits or adding a small cushion to prevent premature exits.
What Is BreakEven Offset? #
BreakEven Offset defines how far beyond the breakeven price your stop-loss should move once the breakeven trigger activates.
This offset follows the same measurement type chosen under your Risk Settings, such as:
- Ticks
- Points
- Dollars
- Percentage (Entry Price)
So, if your risk settings are set in points or dollars, the breakeven offset will automatically apply in the same unit type.
Single TP/SL Setup (Standard Format) #
This is the most common setup for traders using one Take Profit and one Stop Loss.
Steps to Set It Up #
- Go to the Alert Creation Page in PickMyTrade.
- Under BreakEven Settings, choose:
- Do You Want To Place Auto BreakEven? → YES
- Enter Price Movement for BreakEven → e.g.,
5(price must move 5 units — ticks/points/dollars — in your favor) - Break-even Offset → e.g.,
3(stop moves 3 units beyond entry once BE triggers)
- Save and activate your alert.
Example for LONG Order #
- Symbol: ES (E-mini S&P 500 Futures)
- Entry: $5000.00
- Stop Loss: $4990.00
- Take Profit: $5020.00
- BreakEven Trigger: $5
- BreakEven Offset: $3
➡ When price moves from $5000 → $5005, your stop automatically moves to $5003.
You now lock in +$3 profit per contract instead of just reaching breakeven.
Example for SHORT Order #
- Symbol: ES
- Entry: $5000.00
- Stop Loss: $5010.00
- Take Profit: $4980.00
- BreakEven Trigger: $5
- BreakEven Offset: $3
➡ When price drops from $5000 → $4995, your stop automatically moves to $4997.
You secure +$3 profit per contract instead of just breaking even.
Multiple TP/SL Setup (Advanced Format) #
This setup allows you to split your trade into multiple quantities and assign unique BreakEven Offsets to each segment.
Steps to Set It Up #
- Open your PickMyTrade alert configuration.
- Choose the Multiple TP/SL format.
- Define your structure as follows:
| Quantity | Take Profit | Stop Loss | BreakEven Offset |
|---|---|---|---|
| 1 | 50 | 35 | 2 |
| 1 | 50 | 25 | 3 |
| 2 | 50 | 35 | 4 |
- Save your alert.
Each portion will independently calculate and adjust its breakeven offset once triggered.
Example for LONG Order #
Symbol: NQ (Nasdaq Futures)
- Entry: $1000
- BreakEven Trigger: $5
- Setup:
| Quantity | TP | SL | BE Offset | Result |
|---|---|---|---|---|
| 1 | $10,010 | $9,995 | $2 | Stop moves to $10,002 |
| 1 | $10,015 | $9,995 | $3 | Stop moves to $10,003 |
| 2 | $10,020 | $9,995 | $4 | Stop moves to $10,004 |
➡ As each segment’s price moves $5 in your favor, that portion’s stop is individually updated to its corresponding offset.
Example for SHORT Order #
Symbol: NQ (Nasdaq Futures)
- Entry: $10,000
- BreakEven Trigger: $5
- Setup:
| Quantity | TP | SL | BE Offset | Result |
|---|---|---|---|---|
| 1 | $9,990 | $10,005 | $2 | Stop moves to $9,998 |
| 1 | $9,985 | $10,005 | $3 | Stop moves to $9,997 |
| 2 | $9,980 | $10,005 | $4 | Stop moves to $9,996 |
➡ Once price moves down by $5 (to $9,995), each stop adjusts above breakeven according to its assigned offset.
Key Notes #
- Multi-quantity offsets help manage scaling out strategies effectively.
- The BreakEven Offset adapts automatically to your chosen Risk Type unit (ticks, points, percentage or dollars).
- Not supported when using Price risk type — breakeven and offset will not apply in those modes.
- Offset works on both single and multi-TP/SL formats.
