You will need two brokers for this type of strategy:
For the broker that pay interest:
You can use anyone out there.
We all use the same broker because we are very happy with their service. we also get $1 rebate per round lot.
trade 1: buy 1 lot gbpjpy and collect around $22/day
For the broker that does not charge interest:
We all have accounts with this broker and very happy so far. I have account with them since last year.
Not too many brokers out there allow interest free.
You just have to know who to talk to. Be careful, there are lots of scam out there.
Do google search first on the broker or ask referral before open accounts with them.
trade 2: sell 1 lot gbpjpy and pay no interest charge.
The idea is to hold these two positions as long as you can.
We don't care what direction gbpjpy goes. We just make money off the interest, daily.
But you must constantly trade on the interest free broker to make the broker happy.
The broker makes their money on the spread. Since they already loose money for not charging us interest. We need to trade everyday and make even more money. We have a way to this. We call it triple hedging. At the end, everyone is happy :-)
Some of our friends started out small like $1000 on each account.
It does not take long before they deposit more and more money into their accounts.
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