While browsing Forex forums, I came across a post that mentioned pending orders, take profit, and stop loss orders not being triggered at the set price due to the spread of the currency pair. I’m not very confident in my math skills and I’m wondering if there is a tool or calculator available that can factor in spreads for me when setting these orders. Does anyone know of such a tool or have any recommendations for how to calculate spreads effectively? Thanks for your help!
Is there a tool or calculator that can factor in spreads when setting Forex orders?
I don’t think such a tool could have been invented because spreads change all the time. The difference between narrowest and widest spreads on a major pair like USD/JPY in an average day can be 5x or 10x or more.
it’s also depend on his broker ,
news time spread will be very high as compare to normal time
If he is using a fixed-spread brokerage, there may be a tool available to help him, although I was unable to locate one.
Does that mean brokers with flexible spread won’t provide that opportunity? Can you please describe it in detail?