Target Profit With Adding Spread

Hi All,

Thanks for help in advance. My question involves factoring the “spread” when going long. I know I enter at the ASK and get cashed out at the “Bid” when going long. I also understand if the spread is 2 pips and I want to enter at 1.0000, my entry needs to actually be 1.0002

Question has to do with Setting Profit Target… I want a 1:1.5 RR each trade. To achieve this, do i need to add the 2 pip spread on top of my original target profit, or can I just leave it? When I do the long order on tradingview, my risk/reward changes from 1.5 before adding the entry on spread down to like 1:1.1 RR.

Any insight is appreciated, thanks!

Can’t you just manually manipulate the S/L (Right click on the price line) on your chart and drag it to wherever you consider appropriate. Same with T/P. I use 200 points as rule of thumb, which could be manipulated to limit your risk exposure

Start with a lot size of 0.02, and experiment.

Thank you for your reply steve. My stop loss varies each trade, its not a fixed number i usually put it below pullbacks and Support/Resistance. I just wasn’t sure if the spread affects my target profit and if i needed to change the number compared to entering at 1.0002 rather than 1.0000

Usually chart you see is based on Bid price. Market trades at any moment in both Ask and Bid.
If you draw your EXACT resistance (regardless if this is best way to do this) you draw on Bid prices. So for long positions you will hit your TP exactly when candle touches your TP. For short positions your TP look like hit BEFORE price reaches it (Bid price has not reached, but Ask, which is higher, did and triggered the TP)

Does 2 pips really affect your 1:1.5 RR? If yes, it means you are aggressively scalping and it may be useful for you to turn on showing Ask line on the chart to see how far it is from Bid at any time. In very close zooms it is REALLY far, so being aware of it may save you money.

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Thanks Wilczasty!