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Old 20-07-2004, 00:44   #2
taboni
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I have never used either of these platforms, but what you are describing sounds like your positions were rolled, although it usually occurs at the close of the NY business day at 5pm EST.
You are not paying anything extra. This is such a big misconception among new traders in the market who think the roll is just another way to get ripped off by the big bad brokers.
Rollover is a fact of the market. When you place a trade to buy EUR/USD, you are buying one currency (EUR) and selling the other (USD) for spot (2 days settlement) If you want to carry this position overnight, you have to roll it, in effect lending the EUR and borrowing the USD overnight. The difference in the interest that you pay against the interest that you earn is your profit or loss on the roll. Yes you can actually make money on the roll, but beware that there are some brokers who will not pay you what you should be earning on this, so it pays to ask questions on individual brokers rollover policies before opening an account.
Good luck.
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