“SWAP= -35.92, PROFIT= 3.22, TOTAL PROFIT= -32.70”
im trading my demo account with ibfx and it says -35.92 for “SWAP.” what is swap and why does it do this to me?
“SWAP= -35.92, PROFIT= 3.22, TOTAL PROFIT= -32.70”
im trading my demo account with ibfx and it says -35.92 for “SWAP.” what is swap and why does it do this to me?
Seems like you kept your trade opened for too long… Swap is the overnight interest rate paid or deducted on the open positions by the Forex broker.So i guess you must be trading AUD or NZD pairs or u opened a trade since a long time ago and forgot about it!
yup i traded the aud/nzd lol. so do all pairs have swap or all except the majors?
Yupp all the pairs have swap,even EUR/USD…If u are buying a higher currency which has a higher interest rate as compared to it’s counter currency than the swap will be positive and vice versa.
Following are the interest rates of some of the major currencies:
AUD 3.25%
NZD 2.50%
CAD 1.00%
EUR 0.75%
GBP 0.50%
CHF <0.25%
USD <0.25%
JPY <0.10%
U were short on AUD/NZD.Right?
yea it was aud/nzd. i held it for at most 4 hours, although it was around 23:00-24:00 NY time so thats most likely how it got me.
also, sorry about title and op mods. wont happen again.
Yeahh …Than i guess that your trading volume was much heavy.What was your lot size?