Does anybody close their trades on Wednesday night so they dont get charged for the weekend Swap Fee?
Oh I thought this applied to Fridays. but also no I don’t close to consider weekend Swap Fees.
Yes, you can close trades on Wednesday night to avoid being charged for the weekend swap fee. Since the forex market operates 24 hours a day during weekdays, closing positions before the daily rollover typically occurs around 5:00 PM New York time (Wednesday night) can help you avoid incurring swap fees over the weekend when markets are closed. This can be a prudent strategy to manage trading costs and optimize your overall trading performance.
I usually don’t close on Wednesday nights, as it’s mostly one day without staying. Although sometimes it takes days, because we wait for a good price to make a profit. To avoid swaps, they should be closed before overnight. Even if it’s still floating minus, you’ll lose too.