Can I Be a GBP/JPY Dimwit For a Moment

I have a quick question and I know this seems like a dimwit question but am just wondering.

My broker is showing tonight's 5pm est carry trade on the pair today at $12 per 1%+int mini lot. (Which is the leverage I trade)

If the spread on the pair is 9 pips and the pip value is $.85

The $12 carry will pay me the equivilant of 14.11 pips

Useing round numebrs as an example.

If at 4:59.58 I bought 1 lot of GBP at 223.00 / 223.09 and instantly set my stop at 222.95.

Wouldnt this guruntee a FREE trade.

Hi there Passholder,

I presume you're using fxcm?

In which case, the Interest shown yesterday was for 5 days worth of interest (over the christmas holiday).

If you re-check today then the interest should show zero.

Cheers,
Tim.

Remember that Rollover credits or charges are triple on Wednesdays because actual delivery of currency will occur on Monday as the settlement in the spot forex is 2 days...That's why you are seeing large rollover numbers which you won't see on normal days....


Thanks,

Nader

Very true Nader.
Unfortunately not for fxcm's interest yesterday.

If fxcm were paying $4.00 interest per day per minilot long on Gbp/Jpy then I'd be a really happy man!!

Their usual daily interest payment is $2.40 per minilot held long on GbpJpy.
Which is, what I think Passholder was after.

Cheers,
Tim.