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+$40 in rollover everyday

  • #21
  • Jun 16, 2010 11:33am Jun 16, 2010 11:33am
Sorry but you will fail.
  • #22
  • Jun 16, 2010 11:37am Jun 16, 2010 11:37am
Quoting sucaba
Sorry but you will fail.
Making money through interest rates spread ? Wouldn't violent reversals be avoided by stop loss orders ?
  • #23
  • Jun 16, 2010 4:12pm Jun 16, 2010 4:12pm
This is probably a noob question, but I am wondering how you capture the rollover profit?

I know when I have been in a G/J trade rollover is at 5pm est for me.

I went long on TRY/JPY just today and was up about 10 pips but saw no rollover profit in the column after 5pm. Any comments? Thx
  • #24
  • Jun 16, 2010 4:20pm Jun 16, 2010 4:20pm
Quoting Captvrod
This is probably a noob question, but I am wondering how you capture the rollover profit?

I know when I have been in a G/J trade rollover is at 5pm est for me.

I went long on TRY/JPY just today and was up about 10 pips but saw no rollover profit in the column after 5pm. Any comments? Thx
Depends on your broker. Some do, some don't, some calculate it continuously.
  • #25
  • Jun 16, 2010 4:28pm Jun 16, 2010 4:28pm
My broker lists the Rollover at a rate of 2.01 so I know they offer it. On G/J it's .11 and like I said its at 5pm.

So I just closed the trade at a profit of 10 pips but no profit in the rollover column still?

I must be missing something...

Thanks Intensity...any other thoughts?
  • #26
  • Jun 16, 2010 5:26pm Jun 16, 2010 5:26pm
Ok....cool. They were just reeeeeaaally slow in posting. I got my 2%. Can't remember who recommended this trade but it's awesome.

rogerdoger how many lots does someone need to have in each pair if they want $40 in interest/day?

In answer to Rogerdogger, I have FXCM and it takes a 2k investment to get $40 on the rollover. Amount of contracts will of course depend upon whether you are trading full, micro, etc.

So for me, 200 contracts to get the $40 since I am using a micro acct. Good luck..
  • #27
  • Jun 16, 2010 6:31pm Jun 16, 2010 6:31pm
I've been building carry positions in TRY, HUF and ZAR since the beginning of the year as part of a long range plan. There are details at www.market-geeks.com. The spreads are pretty big, but I'm trading around the core positions so my average entries continue to improve. Also, I use very low leverage (about 6:1 right now) and my plan involves constantly lowering the leverage over time.

I use Oanda, which pays interest each day, calculated to the nearest second of holding time. They also allow trades of any odd size, down to a single unit of currency, which is tailor made for taking advantage of daily compounding.
  • #28
  • Edited 8:53pm Jul 15, 2010 8:22pm | Edited 8:53pm
Quoting Intensity
Has anyone tried that ? I'd like to open a sub-account for doing some carry-trade with USDTRY or AUDJPY but I don't know if it's really that easy
I haven't tried USDTRY - will give it a look - but I carry trade with AUDJPY. I don't use stops - defeats the purpose - but you need a sizeable account (especially when the flash crash happened - 1,000 pips in one day on A/J). I'm with Oanda.

Platypus has already told me off

[EDIT] I forgot to say that it is handy to have another sub-account for shorting Actually, that's not quite correct. I do use stops if positions are in profit so it's probably not true carry trading (more like slack trading).
Nothing worth having is easy.
  • #29
  • Jul 15, 2010 8:48pm Jul 15, 2010 8:48pm
Apologise for my ignorance, but what is a TRY ?
  • #30
  • Jul 16, 2010 3:36am Jul 16, 2010 3:36am
Quoting random pips
Apologise for my ignorance, but what is a TRY ?

why didnt you just google it ?

any way TRY = Turkish lira
  • #31
  • Jul 16, 2010 5:16am Jul 16, 2010 5:16am
Quoting Dutch_trader
why didnt you just google it ?

any way TRY = Turkish lira
Hello dutch
can you please explain more about this strategie or methode if you no more about that .

and if you are from the netherlands.

that will be fine if you can send me a Pm with explanation about it.


Thanks allot,

Yoenes
  • #32
  • Jul 16, 2010 6:05am Jul 16, 2010 6:05am
Quoting fxreport
taking a long position for TRY/JPY will get you $40 a day in interest. That is 1200 USD per month.

Does anyone have any idea about another per which can be hedged against the TRY/JPY so that one does not lose if TRY/JPY went down?

Regards
Yanni
i dont know if ava do this pair, but open a swap free account and short this pair, go long your regular broker and collect the swaps.
bull in a china shop
  • #33
  • Jul 16, 2010 8:06am Jul 16, 2010 8:06am
Quoting Dutch_trader
why didnt you just google it ?

any way TRY = Turkish lira
Thank you for your reply
  • #34
  • Last Post: Jul 16, 2010 8:11am Jul 16, 2010 8:11am
I have yet to see a trustworthy broker offering a swap free account. Some have islamic accounts, but they tend to build in swap-like products with even more messed up margins.

If the broker doesn't actually charge the swap, they have a negative expectancy! Considering that through interest rate parity, the interest rate differential is an unbiased predictor of the future spot rate. This also implies that a carry trade offers no edge, which doesn't imply you can't make a lot of money from it, as the market may experience strong short and medium run deviations from IRP.
The nail that sticks out gets hammered back in
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