Disliked{quote} Bro, a question if you don't mind. You hold the trades for so long, months even, the cost of swap must be on the high side, right? How do you deal with swap cost i wonder? My broker has higher swap cost for GU buy and a much lesser swap cost for GU sell, either way I'm paying swap after each day of holding on to my existing trades. Not that the swap will hurt me much, but curious is there an alternative way of dealing with swap more favourably by considering other broker option, currently using pepper, been with them for many years.Ignored
Thanks for bringing this up.
Swaps costs are definitely an issue. You can gauge from my closed trades list the amount of swap fees I paid over a year period. It represents roughly 10% of profit made. The most sensible thing would be to trade positive swap fee pairs only for example UsdJpy and GbpJpy buy trades give me a nice positive swap. Something definitely for consideration next year. I am very familiar with GbpUsd and it was my obvious choice to trade as long term trading which has been a work in progress since 2017. So yes, I'll probably still trade GU long term and will have to consider it as cost of business on a positive note. However I will become more proactive with UJ and GJ long trades to offset my negative swap costs. Something for me to ponder on going into next year.
I have thought about looking for a different broker offering me a better deal on swap costs with GU, but I have been with my broker for so long and I trust them. So it will be a hard transition for me.
Cheers.
Trade to trade another day
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