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[If / Then] stop losses or take profits

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It would be awesome if there were some way to set a clause for stop losses / take profits. 

Eg, price is currently below entry point - price move up above entry point be a few pips - if then stop loss is triggered based on a rule of "if price moves above entry point by x, place stop loss 1 pip above entry point".

This would save me having to manually adjust stop losses, when after placing a trade, I wait for the spread to be covered as price moves in the direction of favour for the trade. 

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