GBPUSD: spread belongs inside the 1.5% risk budgetGBP/USDOANDA:GBPUSDordanemarketsMost traders calculate size from the distance between entry and invalidation. That leaves the spread outside the plan even though it is paid the moment a position opens. On this GBPUSD 4H chart, mark the invalidation first. Then read bid and ask during the session you actually trade. Convert that spread into money for the intended size and add it to the stop cost before the order exists. If one position is capped at 1.5%, the stop plus the spread must fit inside the same cap. If the total is too large, reduce size. Do not pull the stop closer just to make the arithmetic fit. Measure again during normal liquidity, before scheduled news, and near rollover. A spread is a live reading, not a permanent property of the pair. The useful comparison is the total execution cost for the same instrument, size, and time. Educational setup, not advice. All figures use simulated capital only; no deposits, no client money.