This is driving me mad, but given that I’m new to this the answer should be easy for the rest.
GBP/USD: Bid is 1.67860 Ask is 1.67715 for example. Now I think, again hypothetical, that cable will start going up. However I want to place the entry in a way that by the time it reaches my target I’d already have paid the spread.
In simple terms, if I’m looking to buy cable without having to pay the spread. So where do I place my entry so that by the time cable reaches 1.6786 my profit is $0.00 rather than $-145.00
Sorry for the clumsy question, hope it was clear.
Hi,
Philip I am not 100% sure I fully understand your question but I should make clear that paying spread is a part of trading via a Forex broker. You pay a spread because your broker is charging a fee for handling your trade. Spread is always taken before any profit is made, this is why trades automatically start in minus Hope it helps.
Are you trading live or demo?
The only way I could possibly think of doing what your talking about is placing your entry a bit below the price your talking about pay the spread and by the time it reaches 1.67 your at 0.00$ but then its really the same thing if u placed your order @ 1.67 what u can also do is if your looking to trade in large volume and your concerned about your account “going in red” aka- 145$ you can trade a smaller volume e.g. if u wanna place a 100K trade place 30K below 1.67 maybe by 10 pips or so and 70K at 1.67 your account will be in the green
where you will pay less for the spread because your in profit by 10 pips either that or get a new broker
psychically impossible to avoid paying spread. If your spreads are huge you’re either trading during news events, low volatility hours or you need to change brokers.