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Cable Update (GBPUSD)

  • #833,881
  • Jul 31, 2024 8:19pm Jul 31, 2024 8:19pm
Hi all GU forumers, I have a little question, hope anyone will be able to provide some insight on this.
My broker Swap Long is -3.76, I believe this means Per Trade if lot size is 1.00, the swap fee will be USD 3.76 , so if I used a lower lot size, the swap fee will be reduced accordingly.

My lot size is 0.43, usually the swap fee will be about USD 0.xx per day, but after just 1 day (I entered at 23:30 yesterday), the swap fee is USD 4.85, I'm shocked to see such a high swap fee after just 1 day.

Can anyone advise what is happening here? Does it have anything to do with Cross Month Swap? Due to my trade is entered at 23:30 on 31 July, and today is 1 Aug? This is really my first time seeing this, is this a mistake from broker? Should I contact the broker?
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.7%
  • #833,882
  • Jul 31, 2024 8:29pm Jul 31, 2024 8:29pm
Quoting dempire1
{quote} Whats with the hostility? I wanted to understand where you got that kind of information.
No hostility, just said where i got the information.
It comes with a good price tag, but totally worth it.
You paid to stay ahead of the market.
Cost of doing business.
More time in the market, does not mean you trade better!
  • #833,883
  • Aug 1, 2024 12:07am Aug 1, 2024 12:07am
Quoting Reverso
Hi all GU forumers, I have a little question, hope anyone will be able to provide some insight on this. My broker Swap Long is -3.76, I believe this means Per Trade if lot size is 1.00, the swap fee will be USD 3.76 , so if I used a lower lot size, the swap fee will be reduced accordingly. My lot size is 0.43, usually the swap fee will be about USD 0.xx per day, but after just 1 day (I entered at 23:30 yesterday), the swap fee is USD 4.85, I'm shocked to see such a high swap fee after just 1 day. Can anyone advise what is happening here? Does it...
This is not a mistake, you should contact your broker to know the swap fee.
Intraday Trading is an Art _ hoda
  • #833,884
  • Aug 1, 2024 12:44am Aug 1, 2024 12:44am
Quoting Reverso
Hi all GU forumers, I have a little question, hope anyone will be able to provide some insight on this. My broker Swap Long is -3.76, I believe this means Per Trade if lot size is 1.00, the swap fee will be USD 3.76 , so if I used a lower lot size, the swap fee will be reduced accordingly. My lot size is 0.43, usually the swap fee will be about USD 0.xx per day, but after just 1 day (I entered at 23:30 yesterday), the swap fee is USD 4.85, I'm shocked to see such a high swap fee after just 1 day. Can anyone advise what is happening here? Does it...


This is correct for your swap charging.

Usually, brokers charge a triple swap at the end of every Wednesday. The swap is the interest rate that you need to pay to the banks every time you place a trade and hold it until the next day. The reason brokers charge a triple swap at the end of Wednesday is that they cannot charge your swap on Saturday and Sunday due to bank holidays and the market being closed. So, the weekend swap is accumulated and charged at the end of Wednesday.

Your swap rate is 3.76 x 3 = 11.28. With your lot size of 0.43, the correct swap charge is 11.28 x 0.43 = 4.85.
With courage, patience, and discipline, success is a matter of time.
  • #833,885
  • Aug 1, 2024 1:06am Aug 1, 2024 1:06am
What will impact GU after today's BoE Interest Rate Decision? Red Data: will GU go up?
  • #833,886
  • Aug 1, 2024 1:17am Aug 1, 2024 1:17am
Quoting JameRomeo168
{quote} This is correct for your swap charging. Usually, brokers charge a triple swap at the end of every Wednesday. The swap is the interest rate that you need to pay to the banks every time you place a trade and hold it until the next day. The reason brokers charge a triple swap at the end of Wednesday is that they cannot charge your swap on Saturday and Sunday due to bank holidays and the market being closed. So, the weekend swap is accumulated and charged at the end of Wednesday. Your swap rate is 3.76 x 3 = 11.28. With your lot size of 0.43,...
wow that's very informative, so it's not like I'm getting ripped off, right? I can think of it as if I'm charged equally over a period of 7 days if i think about it.

Or maybe i can make a workaround to avoid holding anything overnight for Wed, then reopen back the trades when Thurs opens to avoid the triple swaps to lessen the impact of swaps eating into my profits?
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.7%
  • #833,887
  • Aug 1, 2024 1:30am Aug 1, 2024 1:30am
Come on shorty
Exit from short when ren line crosses the orange
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yes yes yes
  • #833,888
  • Aug 1, 2024 1:30am Aug 1, 2024 1:30am
Has the BoE data been leaked, as usual?
  • #833,889
  • Aug 1, 2024 1:39am Aug 1, 2024 1:39am
Bit of a drop hey.. what’s going on
Insane in the Brain..
  • #833,890
  • Aug 1, 2024 1:39am Aug 1, 2024 1:39am
August 1st, another month Eying 2800
Emotional Control. Process, not outcome.
  • #833,891
  • Aug 1, 2024 1:41am Aug 1, 2024 1:41am
Quoting Reverso
{quote} wow that's very informative, so it's not like I'm getting ripped off, right? I can think of it as if I'm charged equally over a period of 7 days if i think about it. Or maybe i can make a workaround to avoid holding anything overnight for Wed, then reopen back the trades when Thurs opens to avoid the triple swaps to lessen the impact of swaps eating into my profits?
That's correct. As long as your broker is true A-Book broker, they don't have reason to charge your swap incorrectly to rip you off because the swap benefits the banks not your brokers.

To avoid triple charge next time, I recommend you close trade before the Wednesday end if you cannot handle high swap fee. Problem solved
With courage, patience, and discipline, success is a matter of time.
  • #833,892
  • Aug 1, 2024 1:51am Aug 1, 2024 1:51am
earlier than 2755 I dont buying, still selling
People don't plan to lose. They lose because they don't plan.
  • #833,893
  • Aug 1, 2024 1:51am Aug 1, 2024 1:51am
Quoting hoda
GU:H1 Only Sell {image}
GU: H1
Only Sell (Continued)....
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Intraday Trading is an Art _ hoda
  • #833,894
  • Edited 2:03am Aug 1, 2024 1:53am | Edited 2:03am
Done breaks previous low with 6th attempts , now next target goes to floating sr 2778 and 57 may corresponding eurusd also breaks violent previous lows 0800,0790 . Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #833,895
  • Aug 1, 2024 1:53am Aug 1, 2024 1:53am
Gold pissed me off, Im shorting from 2400 and still go up, now Im on some drawdown but safe of course, waiting for mega colapse
People don't plan to lose. They lose because they don't plan.
  • #833,896
  • Aug 1, 2024 1:55am Aug 1, 2024 1:55am
Quoting JameRomeo168
{quote} That's correct. As long as your broker is true A-Book broker, they don't have reason to charge your swap incorrectly to rip you off because the swap benefits the banks not your brokers. To avoid triple charge next time, I recommend you close trade before the Wednesday end if you cannot handle high swap fee. Problem solved
Just curious, is there a reason why they chose Wed instead of Fri? It makes more sense to triple charge the swaps on next Monday if you hold positions on last Friday and over the weekend.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.7%
  • #833,897
  • Aug 1, 2024 1:55am Aug 1, 2024 1:55am
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The break of candle is very significant
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yes yes yes
  • #833,898
  • Aug 1, 2024 2:07am Aug 1, 2024 2:07am
Quoting ScalaFX
Gold pissed me off, Im shorting from 2400 and still go up, now Im on some drawdown but safe of course, waiting for mega colapse
Scala, You started selling from my buy level. Hope you get profit very soon.
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Intraday Trading is an Art _ hoda
  • #833,899
  • Aug 1, 2024 2:15am Aug 1, 2024 2:15am
Quoting Konichiwhaat
August 1st, another month Eying 2800
No trade. Now eyeing 2780
Emotional Control. Process, not outcome.
  • #833,900
  • Aug 1, 2024 2:17am Aug 1, 2024 2:17am
Quoting ScalaFX
earlier than 2755 I dont buying, still selling
slowly will be closing buys becouse price can reverse any time, buys only if hit 2755,2760 but will be watching PA
People don't plan to lose. They lose because they don't plan.
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