Compound Profits on Winning Trades
Swap is the amount of daily interest that you get paid, or pay, on your open Forex positions. This amount is tripled on Wednesdays.
When you understand which trades will pay you this extra income and intentionally target those positions, you can get paid more on a winning trade than you initially thought.
If you have a losing trade, the extra swap payment can also help to reduce your loss.
But do you know which positions pay positive swap?
This simple MetaTrader 4 EA will show you.
What You'll See
Here's an example of what you'll see when you add this EA to your chart.
This information will appear in the upper left corner of the chart under the Forex pair information.
It will show you all of the currency pairs in your Market Watch window that have positive swap. You'll see how much swap you'll receive and which side (long/short) is paying positive swap.
Having access to this information in real-time helps you understand which currency pairs you may want to focus on.
If this is useful to you, click this button to buy this EA.
The Positive Swap EA in Action
You might be thinking that this is great, but how does it apply to real world trading?
Well, the answer is simple…
If you prefer to be on the side of a market with positive swap, then only look for trades in markets/sides that have positive swap.
For example, the list above shows that USDJPY long currently has the highest positive swap at +11.55.
So you would develop a trading strategy that looked for only long trades in the USDJPY.
You could use an indicator-based strategy or simple support and resistance.
To keep things simple, I'll use support and resistance.
This might be a good place to enter a long trade in USDJPY because it's bouncing at a potential support level.
The longer you can hold this trade, the more swap you'll make.
Remember, swap gets paid every day, and is triple on Wednesday.
Positive swap is the closest thing you'll get to passive income in Forex trading.
Stop Bleeding Cash
If you don't track the swap on your Forex trades, you can pay quite a bit in swap if you keep your position open for several days, weeks or months.
In addition, if you trade other markets like indexes or crypto, the swap cost is probably a lot higher than you think (negative swap).
Trading markets that don't have positive swap will cut into your profits or make your losses even bigger.
So it really pays to keep track of the swaps of all of the Forex pairs that you trade.
You can do it without this EA…but it takes a lot of time.
The Manual Way to Check Swaps
Before I get into how this EA works, let's take a look at how you have to do this without the EA.
This will show you how much time the EA saves.
First, open the Market Watch window in MetaTrader 4.
Then right-click on the market that you want to check. Select Specification and scroll down to the bottom of the pop up window.
This is where you'll see the long and short swap for that market.
Now write down the swaps, then move on to the next market.
Yes, this process will take a lot of time because you'll have to manually check every single market you're trading.
Don't want to check every pair manually?
Neither do I.
Here's the solution…
How to Use this Expert Advisor
First, setup your Market Watch window and include all of the markets that you want to track.
Next, install this EA in MetaTrader 4, then make sure that the AutoTrading button is turned on. It's turned on when the button is green.
Then open the Navigator window and drag and drop the EA from the list onto any chart.
From there, you'll see the list of currency pairs that have positive swap in the upper left corner of the screen.
That's all there is to it.
Now you can see all of the markets that have positive swap at a glance. When the swaps change, you'll see the change immediately on this list.
You can add this list to 1 chart or multiple charts.
So if you want to get this valuable information without checking each market manually, then click this button to buy this super useful EA.
Frequently Asked Questions
Click the “+” symbol to see the answer to each question.