Is it possible for position trader to make money? According to definition by babypips, position traders are those who have trades that last for several weeks, months or even years. I am quite new in FX trading. Recently got tied by EURUSD and USDCHF for weeks. At first i thought - 0.52 cents swap interest 0.05 lot is nothing and i still can make profit when USD drop. I then worked out the swap interest rate and found out it is about 1 pip per day and 3 pips on wednesday which meant approx. 9 pips a week. If you keep the trades open for 4 weeks you will loose 36 pips. So, is it possible to make money for position traders? I dont think it is possible. Some brokers gave a wrong info saying that you will earn +swap if you open long position and pay - swap if you open short. This is not correct. No matter i open long or short for EURUSD and USDCHF, both also minus swap interest. I dont think if i keep it for months and i could recover from the -swap interest. Can someone clear my doubt? For the time being i only interested in major FX pair against USD. Can someone tell me which currency pair is +swap? Most of these major currency pairs i traded no matter long or short position also - swap. Thanks in advance to anyone who help to explains.
Should we cut loss when we are trapped since the longer we hold the more interest we pay?
I’ve closed trades because of this reason alone. It just didn’t make sense and it just meant I couldn’t afford holding that trade for a longer time frame.
What currency is your account in and which broker are you using?
Here’s an interesting thread you can also look at:
sorry it looks like your problem is very important. i am newbie. I just listened to take lessons in this forum. sorry I don’t know what to answer. 