Let’s say I have a limit order, do I factor in the broker spread only into my SL? Or do I add the broker spread to my entry and take profit as well? I’m new to this, I’m just wondering .
Whatever price you set as the stop-loss or the take-profit, that is the price that the exit order will be executed at.
Note that the chart will normally show the bid price as a default setting, though depending on the platform you might be able to alter this to ask price or mid-price, which is obviously halfway between the two.
When factoring in broker spreads, it’s common to consider them in your entry, stop-loss, and take-profit levels. Incorporating spreads into your entire trade plan helps account for potential variations in the market and ensures a more realistic view of your risk and reward.