Probably a very easy question to many, but how do you go about calculating your break even point?
Do you go by the value the currency is currently at or by your pips (same applies to the stock traders, value or shares).
Also, do you move your stop loss so its tighter and obviously under/over your entry (depending if you're short/long).
Or do you just close off half your position and then maybe bring your stop closer?
Just need some general insight to the break even point, how its calculated and what you prefer to use.