Hi
Say I want to trade a pair with high swaps eg. shorting AUDUSD - long term trade (6-12 month position). What is the best way to do this without cutting into my profits (if any).
It seems my broker charges approx. $10-15 per lot swap on A/U. Keeping a position open for a year would be approx. $3500 of interest charge. So I have to make a 350 pip profit just to Break Even at end of the year?
Does that sound correct or am I mistaken.
PS: I know about Islamic Accounts, but not everyone can open that, correct?
Cheers
Say I want to trade a pair with high swaps eg. shorting AUDUSD - long term trade (6-12 month position). What is the best way to do this without cutting into my profits (if any).
It seems my broker charges approx. $10-15 per lot swap on A/U. Keeping a position open for a year would be approx. $3500 of interest charge. So I have to make a 350 pip profit just to Break Even at end of the year?
Does that sound correct or am I mistaken.
PS: I know about Islamic Accounts, but not everyone can open that, correct?
Cheers