I am currently trying out a demo account with Oanda and after a few weeks I was curious about the stop/loss feature. I know that you can set it at any point you want. Since I am trading one currency pair (USD/CAD) and receiving $0.032 per every, thats $0.76 per day, if I left it ride without hitting the stop/loss mark.
I ask Oanda Live Chat support regarding any penalties if I were to leave my stop/loss at a high level and leave it for a week or so and receieved those nice daily interest into my account. They said there are no restrictions on that and I could leave it as long as I want just as long I dont hit the margin call.
This sounds fairly simple and easy money but I know that the currency pair could just go on to the negative side and I will end up losing all my money or end up getting a margin call.
I want to verified from you guys if this is true that you can set your stop/loss any time and just hog the daily interest?
Thanks in advance.