Stop-loss at breakeven

"Stop loss at breakeven" in the "Hurricane" futures bot allows you to configure the bot so that it will automatically send a stop loss order to the exchange at a price better than the average entry price or position opening price, so that if the price reverses, the position will be closed.

We have 3 types of breakeven stop loss:

1. The first is breakeven stop loss in the trading terminal for manual orders (activated when one of the take profits from the take profit ladder is triggered)
2. The second is breakeven stop loss for bots, placed on the exchange in the form of a stop order
3. The third (it is always recommended to use it!) - a virtual stop loss for the minimum profit.

Next, we will take a closer look at the second type of stop loss at breakeven.

This stop loss has two parameters: when it is activated and at what price it will be triggered.

If the stop loss activated immediately (when opening a position), then the position would be closed instantly, so the system must first wait for the current price to improve significantly before placing it.

Example: a coin is bought at $100, it's price increases, the stop loss is activated when it has grown by 2% of the average entry price, that is, at $102 and the stop loss is set at $101. That means that if the price falls from $102 to $101, then the stop loss at breakeven will be triggered and the position will close.

Important: when choosing the price type "from the average entry price", this option, if used incorrectly, can lead to losses (if a large position is bought below the position opening price), so it makes sense to use this option, for example, when you buy a fast-growing coin during a pump or turn on the option when the coin has already brought a significant increase in the margin balance of your deposit. Do not enable the option when the current price has already gone below the average entry price.