An interesting side effect is the positive overnight fees if a position is held at 2200. I have not had any other strategies running on the EUR/USD so I was able to go back through my IG account and add up the fees for this market since I started the forward testing up until today. The total is +£10.32.

So I then went back through the performance report and noted how many times each version of the strategy held a position overnight. The original Balmora74 version held 7 positions overnight and my modified version held overnight 12 times. This is probably due to the fact that my version was in the market for an average of 9H 30m and Balmora74’s was only on the market for 6H 42m. Without matching each overnight payment to each position it is impossible to accurately say how much each strategy actually earned in overnight fees but we can guesstimate from the numbers that my version earned about £6.52 and Balmora74’s about £3.80

It feels weird to be happy that a strategy is on the market for longer and holding overnight as often as possible – but it is more profitable. Fees of £6.52 represent an increase of 8.7% on the £75 strategy profit and £3.80 is an increase of 8.1% on the £46.72 strategy profit. Not to be sniffed at.

I might have to start looking at other shorting forex ideas!