RahmanSL
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I have been dabbling on-and-off with Carry Trades for years and, though I have not been as successful as I would like to be due to increasingly workloads with my regular job as an Oil & Gas project management team member, I am still very much convinced that Carry Trades is still one of the most consistent way for profits without doing very much trading work.
I recently picked the EUR/TRY when the Turkish Lira was going through some crisis due to their presidential election and quickly set-up a DEMO account to test my beliefs in the advantages of Carry Trades. The Turkish central bank raised their overnight interest rate to counter the Lira weakness and I picked it to trade against the Euro because of EUR zero overnight interest rate.
Following is an actual screenshot of the results ending Friday 30-June-2018:
I am not going to go into too much details but just mentioned the basic.
Starting Account Deposit: USD10,000
Total numbers of Carry Trade on EUR/USD: 5.0 lot size
The Profit is USD17,618.74 (including positive daily swap values) which is 176.18% increase over initial starting account deposit. That is of course very good profits especially for just over 2 weeks.
However, the main attraction is the positive daily swap value which at approximately USD46.27 x 5.0 lot size = USD231.35 of daily positive swap value which if left to run for a year or 365 days = USD84,442.75 = 844.42% increase from Starting Account Deposit from positive swap alone.
As is obvious from the above example, that's humongous profits especially when compared to what banks would give us for our fixed deposit. And the best part is that we do not have to do anything from that point onward but wait for the trading account to run for as long as we like without fear of the trading account going into margin call and stop-out.
Yes I did take quite a number of short EUR/USD trades on one of my live trading account but burned the account due to over-trading (so what else is new!).
However I quickly re-started the burned-out trading account with a pretty small deposit and has managed to maintain that account with good money management which has grown quick significantly.
If I managed to continue practicing controlled trading with good money management on that "small" trading account over the space of 2-3 months from now, I plan to publish the results here at the FPA to demonstrate that good money can be made from the forex market with a relatively small deposit.
It is my hope that someone here can be inspired enough to consider Carry Trades over the more normal type of trading strategies.
Cheers and all the best!
I recently picked the EUR/TRY when the Turkish Lira was going through some crisis due to their presidential election and quickly set-up a DEMO account to test my beliefs in the advantages of Carry Trades. The Turkish central bank raised their overnight interest rate to counter the Lira weakness and I picked it to trade against the Euro because of EUR zero overnight interest rate.
Following is an actual screenshot of the results ending Friday 30-June-2018:
I am not going to go into too much details but just mentioned the basic.
Starting Account Deposit: USD10,000
Total numbers of Carry Trade on EUR/USD: 5.0 lot size
The Profit is USD17,618.74 (including positive daily swap values) which is 176.18% increase over initial starting account deposit. That is of course very good profits especially for just over 2 weeks.
However, the main attraction is the positive daily swap value which at approximately USD46.27 x 5.0 lot size = USD231.35 of daily positive swap value which if left to run for a year or 365 days = USD84,442.75 = 844.42% increase from Starting Account Deposit from positive swap alone.
As is obvious from the above example, that's humongous profits especially when compared to what banks would give us for our fixed deposit. And the best part is that we do not have to do anything from that point onward but wait for the trading account to run for as long as we like without fear of the trading account going into margin call and stop-out.
Yes I did take quite a number of short EUR/USD trades on one of my live trading account but burned the account due to over-trading (so what else is new!).
However I quickly re-started the burned-out trading account with a pretty small deposit and has managed to maintain that account with good money management which has grown quick significantly.
If I managed to continue practicing controlled trading with good money management on that "small" trading account over the space of 2-3 months from now, I plan to publish the results here at the FPA to demonstrate that good money can be made from the forex market with a relatively small deposit.
It is my hope that someone here can be inspired enough to consider Carry Trades over the more normal type of trading strategies.
Cheers and all the best!