For example, if the spread is 4 pips at 10am for GBPUSD. But, it doesn’t get filled till 5:25pm when the spread is 16 pips. Will it take the 4 pip spread at creation of order or the 16 pip spread at entry?
I’d appreciate any help from the knowledgeable folks here. Thank you!
The order is triggered when price reaches the level you specified when you entered it. If you set a stop-loss this is also triggered when price hits this level.
It can happen that the price on the chart does not seem to have moved much or at all but a widening spread will cause either the bid price or ask price to hit a pre-set order level, and that order will be triggered.
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And if you have that huge spread on GBP/USD, you’re using the wrong broker. CMC, IG, XTB are great - but eToro is one to avoid.
Gotcha, I’ve been trading for a while but I just started experimenting with pending orders for my entries. Appreciate ya’ll, thanks for the quick reply