Quote:
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Originally Posted by mmont
fab4x
You cost /lose is 8 pip spread $4.48 x8= $35.84 (full account) you get interest LONG trade for $24.35x3= $73.05. total $37.21
Buy more lots so your total is more!!!!!
Easy!
WRONG.
First your spread cost is 8 x 2 = 16 x $8.50 +/- = $136.00 .
Then if you can't offset your 2 positions 2 min apart at the same price, which is no lock, you get busted for more or of course you could also make some bucks.
But since this is all about a "no risk" play,that's not a chance you'd want to take.
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Agreed! This method only works as explained earlier in this thread. You open a buy and sell on the same currency (GBP/JPY) at two different brokers.
The Buy position at a broker who pays interest, and
The sell position at a broker who does not pay or charge any interest.
The first couple of days your interest earned will pay for the spread( on both the transactions) and then you hold it for as long as you want to earn the interest. Be carefull for a margin call on the account which goes negative.
When you close the deals, you take your winnings and transfer it to the losing acc to balance the two accounts. The interest earned is your profit.
Keep in mind that the transfer of funds between the two acccounts will also cost you!
Is it really worth all the trouble? I am not sure...
