A question about swap/roll over...
- Thread starter OGRooney
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skc
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hahahahaha sorry that really does sounds pathetic, 25 cents a day not .25c
Can you tell us which FX/CFD broker is giving you 25bps per day?! You realise that's 91% without compounding.
How can this not be wrong?
Even at 0.25c per day it is still too much.
skc
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OK I see. It's 91% interest per year after leveraging at 500:1. So it's only <2% p.a. which sounds much more realistic.
Well... goo luck with that, I hope your friends at the Swiss Central bank don't do anything too rash... or your $100 might not be very safe.
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I put it to you that my $100 is about as safe as FX gets without hedging
I don't understand why you think that. Can you expand? And what are you calling hedging?
I think that because "the SNB have committed to buying unlimited amounts of foreign currency". If Jordan was saying "oh we might let it drop when we're out for a smoke or we've had a big weekend" then I'd be a bit more wary, worried even, as it is I really don't think there's much to worry about.
I'm just saying if you were going to risk 100 dollars on a single trade, I think this is a pretty safe one. And by hedging I was referring to the beginners' misconception of the term - buying and selling the same instrument at the same time.
Either way I'm only risking 10-15 pips, not the whole balance, a single 30 pip spike would completely negate that and provide substantial profit, only problem is we haven't spiked this month
:and BOOM. I'm a bloody idiot though, exited half my positions yesterday afternoon at breakeven + interest for $5, then spike occurred, exited other half when price fell back to 1.2041 for another $35. Would have been alright if this was just another spike but we're about to see our first daily close above 1.2030 since march
I'm hoping ECB disappoints and gives me another chance to set myself up at 1.2... I promise I won't screw it up this time
For anyone who wants to have a real laugh at my misfortune/stupidity... I decided to have a punt last night on another account, sold 20k of EURCHF at 1.0234
hasn't quite gone bad, stop above last nights high
I'm hoping ECB disappoints and gives me another chance to set myself up at 1.2... I promise I won't screw it up this time
For anyone who wants to have a real laugh at my misfortune/stupidity... I decided to have a punt last night on another account, sold 20k of EURCHF at 1.0234
hasn't quite gone bad, stop above last nights high
