Help regarding spreads!

I have been trading for a few months and thought I was getting a good hang of things

I am studying a book with basics of signals and everything regarding this industry… but I remember reading to watch the spreads as that will be profit you give to broker which is fine but today I was trading with a 3 pip spread around 4:55 and then around 5:20 it jumped to 90 pips… and then now it is around 7 so hows does someone justify that while you entered in with a 3 pip spread and then just the spread alone jumps and I loose money I actually was landing where I thought it was going to go I should’ve made about 70 pips instead I never made any profit due to the ask price going higher and higher

So my question is how do I know if a spread will change like that during my trade and how do I know when it will go back… what makes this change happen and how do you guys trade with keeping this in mind with your trades!

I’ve never heard of a spread of 3 pips going to 90 pips. Which pair were you trading? Are the times given NY time? Is your broker a regulated broker?

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You have to find a better broker.

Apart from that trading with a 3 pip spread suggests you must be day-trading and you’re visually watching the trade from entry to exit. If you’re not an expert trader who is already successful, stop doing this and trade long-term using a pre-set stop-loss. (With your new broker.)

That is one hell of a change in spread. You did not mention what pair you were trading. Normal currency pairs won’t have such high spreads. The highest I get from my broker on major pairs is less than 3pips.

First, make sure that you’re broker is licensed. There are brokers that “cheat” on traders especially those who are not regulated.

90 pips spread :hushed::hushed:
Which pair do you trade ??

That’s one hell of a spread. Must be something on your broker’s end.