I thought I had found a good trade -
At the close last night I was £8 in profit (trading at 10p /pip).
This morning the spread has widened 63 pips and where I should be seeing a profit on 400 pips I am down -£15.
400 x 0.10p = 40. I should be up £40.
- How can I be 400 pips away from my entry point in the right direction, but £15 down?
I had always assumed that the Bid/Selling price on entry stood, even if the spread did widen afterward?
- will the spread size reduce through the day?
- should I close the trade, and cut my losses?
I will be grateful for any insight / thoughts and experiences.