This was one of those borderline trades that happen very occassionally, where some users would have got a winner and others a loser depending on where they got in and what spread betting platform they’re using.
I heartily recommend using Capital Spreads rather then IG Index because they have a 2 pip spread on GBP/USD as opposed to a 3 pip spread on IG, and that extra pip would have meant the difference between a winning and losing trade this morning. Besides, why pay a pip extra every trade when you don’t need to? Especially when Capital Spreads has upgraded it’s platform to be just as easy to use and navigate as IG, allowing you to input the stop and limit on the order ticket.
If you’re trading at £10 a pip, then placing one trade a day, as we tend to do with this method, costs you £200 more a month on the spread using IG.
Check out Capital Spreads if you don’t already use them:
A winner on the first trade:
Daily Profit: £200
Total Profit: £4590