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Really basic rollover question

  • #1
  • First Post: Jul 8, 2008 8:19pm Jul 8, 2008 8:19pm
For GBPJPY a particular brokers lists the amount of swap paid as 2.6. If I opened that position, with a size of 1 lot. Would that pay $2.60 or $26 per day? (Specifically the broker is Tradeview). I'm not sure about the scale. If 2.6 means pips then $26 would be correct (ignoring the implicity conversion back the denomination of my trading account)
  • #2
  • Jul 8, 2008 8:36pm Jul 8, 2008 8:36pm
That is correct. The swap denomination is reflected in pips.
Just for comparison:
Oanda is paying (as of today) $22.36 on GBP/JPY for a 24 hours period (1 lot LONG position)
Fx-Pro has a 1,54 pip swap per day on LONG positions, for 1 lot that would be $15.40.

Regards
  • #3
  • Jul 8, 2008 8:37pm Jul 8, 2008 8:37pm
Thanks for the quick reply.
  • #4
  • Jul 23, 2010 4:06am Jul 23, 2010 4:06am
i never hold a trade for more than a few hours but i have been testing a longer term strategy and bought the Euro/Usd on Wednesday at 1.2740. I opened my platform today (Friday) and they moved my entry to 1.2890. Can someone please explain how this process works and how they calculate it or do different brokers have different ways.

Thanks
  • #5
  • Jul 23, 2010 7:34am Jul 23, 2010 7:34am
Quoting Trader-T
bought the Euro/Usd on Wednesday at 1.2740. I opened my platform today (Friday) and they moved my entry to 1.2890.
Entries shouldn't "move" anywhere (provided it was a market order).
Now, if it was a stop order (limit order to buy above the current price at the moment it is ordered) 150 pips that's way of a slippage... unless there was a huge gap.

Can you provide more details?
  • #6
  • Jul 23, 2010 8:21am Jul 23, 2010 8:21am
I think these guys took the day close as you closing price as they marked to market and rolled over your trade to give you the day opening price as the entry in the market but your stop is still where you placed yesterday.

I hope this will help

Muzuri
  • #7
  • Jul 25, 2010 10:31am Jul 25, 2010 10:31am
Quoting doblece
Entries shouldn't "move" anywhere (provided it was a market order).
Now, if it was a stop order (limit order to buy above the current price at the moment it is ordered) 150 pips that's way of a slippage... unless there was a huge gap.

Can you provide more details?
I opened the trade with a market order, when they moved my entry they credited my account with the 150 pips. There was also no gaps in the market

Thanks for your help...
  • #8
  • Last Post: Jul 25, 2010 10:35am Jul 25, 2010 10:35am
Quoting muzuri
I think these guys took the day close as you closing price as they marked to market and rolled over your trade to give you the day opening price as the entry in the market but your stop is still where you placed yesterday.

I hope this will help

Muzuri
I'm a bit confused as to why they done this on Friday when i opened the trade on Wednesday.. if this was the case wouldn't they have done this procedure on Thursday?

Appreciate the help...
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