Free easy money opportunity this Wednesday - One day only

Tomorrow is triple roll over day where the roll over is paid 3 times to make up for the weekend. But due to Easter it is actually going to be 5 times roll over day. This is a rare day where the roll over on certain pairs pays out more than the total spread and commission cost.

Based on an FXCM Active Trader account, here is how the idea would work:

If you buy AUDJPY tomorrow (Wednesday) at 4.59.50 EST and close at 5.00.50 EST the roll over credited to your account per 10k will be £2.70

The total transaction cost is 2.1 pips spread + 0.78 pips commission giving a total transaction cost of 2.88 pips

Pip cost is £0.76

So 2.88 x £0.76 = £2.19

Total trade transaction cost per 10K lot = £2.19

Special Roll over rate = £2.70

Roll over rate - Total transaction cost = £0.51 per 10k lot

So let's say we take a buy position with 2,000k which is 20 standard lots (1 standard lot being 100k)

Our profit is £102 simply for entering a trade and closing it out again at the same market price.

*DISCLAIMER - This is assuming no negative slippage and that during the 60 seconds your position is open, the market price remains the same. I am not recommending this trade idea. I am just pointing out a rare occasion when roll over actually pays more than transaction cost. This is not trading advice.

Did anyone try it?

No, how did it work out for you?

You are totally of your plunk my friend, you are putting in a trade of 20 standard lots which if it moves against you by 1 pip you are down $200 and all you hope to make is $104 on the swap. You are very obviously a newby, can I suggest you go to babypips.com and learn to crawl before attempting to walk and drag other unsuspecting newbys down the drain with you.

*DISCLAIMER - This is assuming no negative slippage and that during the 60 seconds your position is open, the market price remains the same. I am not recommending this trade idea. I am just pointing out a rare occasion when roll over actually pays more than transaction cost. This is not trading advice.[/quote]

He was just mentioning this as a discussion and not suggesting you actually take this as he disclaimer suggest...so ease up some man newbies lose money all the time and always will at least with this method they actually might stay in the green straight away instead of going straight into the red......Anyways good read

Chill out my friend, I am far from a newbie and trade for a living day in day out. I just like to spot little things like this and draw attention to them as I find them interesting. No one else on the forum seemed to have noticed this rare occasion so I thought I'd point it out. As I already said before, I don't recommend anyone trade it.

He was just mentioning this as a discussion and not suggesting you actually take this as he disclaimer suggest...so ease up some man newbies lose money all the time and always will at least with this method they actually might stay in the green straight away instead of going straight into the red......Anyways good read[/quote]

Thanks Allan. Yes exactly, it is one of those rare opportunities to enter a trade in the green. One genuine way you might use such an occasion (if they happened more often) would be if you were going to take a trade at that time already and were able to get in at breakeven instantly. But these days happen so seldom it really is nothing more than a point of interest and something I noticed. It is not often brokers allow swap to paay more than spread+commission so it is indeed a rare moment to see this cheeky little setup happen