hotkey target to breack even

[gravdigaz6]

I've set up a hotkey to move stoploss to BE, but if the trade is unfavourable I also want a hotkey to move the target to BE.
Is it possible?

If this isn't the case, I imagine that on a platform such as NT8 with 20 years of existence, something as basic as this should be feasible, shouldn't it?

[NinjaTrader_Jesse]

Hello gravdigaz6,

That wouldn't be a default feature in the platform but would be something you could program using NinjaScript.

For the tools in the platform a breakeven would only be for stoploss orders. A break even entails that the price has already moved favorably into profit and the stoploss can safely be moved to the average entry price to secure a 0$ gain or breakeven plus some amount of profits.

In your scenario that would involve having a stop which is still far enough away from the current market price to not be filled. The target could be moved to the average entry price assuming that the current market price is less/more than the average entry price depending on the direction of the trade. That is so the target is placed on the correct side of the market. While that will ensure that no profit is able to be made for that trade that would also allow for a mostly unprofitable trade in case the stoploss is hit while you are in an unprofitable position. By moving the target to break even that will limit any potential for a profit for that trade by making a bracket of prices that are only 0$ or unprofitable and not allowing anything above your average entry. You can certainly do that if that fits your trading goals however that would require using scripting to move the target to that price.

If your goal is to otherwise immediately close the unprofitable trade you should use the Close Position feature so that the stop and target are cancelled and an exit market order is submitted to close the position immediately at the current amount of loss.