{"id":16776,"date":"2019-08-18T12:32:12","date_gmt":"2019-08-18T11:32:12","guid":{"rendered":"https:\/\/traders-paradise.com\/?p=16776"},"modified":"2021-03-28T13:50:42","modified_gmt":"2021-03-28T12:50:42","slug":"tom-next-explanation-with-examples","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/","title":{"rendered":"Tom next what is it &#8211; explanation with examples"},"content":{"rendered":"<p style=\"text-align: right;\"><em>3 min read<\/em><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#by_Gorica_Gligorijevic\" >by Gorica Gligorijevic<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#That_is_the_point_where_tom_next_comes_to_the_scene\" >That is the point where tom next comes to the scene.<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#So_this_simultaneous_transaction_is_a_Forex_swap\" >So, this simultaneous transaction is a Forex swap.\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#How_does_it_work\" >How does it work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#How_do_you_calculate_tom_next\" >How do you calculate tom next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#Tom_next_example\" >Tom next example<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#12000-0012_119988\" >120.00-0.012 =119.988<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#You_might_also_like\" >You might also like:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#%3E%3E%3E_Best_Trading_Strategy_Without_Indicators_In_Forex\" >&gt;&gt;&gt; Best Trading Strategy Without Indicators In Forex<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#%3E%3E%3E_How_to_Use_Technical_Indicators_to_Analyze_Stocks\" >&gt;&gt;&gt; How to Use Technical Indicators to Analyze Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#%3E%3E%3E_MACD_Indicator_%E2%80%93_Moving_Average_Convergence_Divergence\" >&gt;&gt;&gt; MACD Indicator \u2013 Moving Average Convergence Divergence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#%3E%3E%3E_Indicator_Trading_And_How_To_Use_It\" >&gt;&gt;&gt; Indicator Trading And How To Use It<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/08\/tom-next-explanation-with-examples\/#%3E%3E%3E_PE_Ratio_An_Quick_Method_to_Value_a_Stock\" >&gt;&gt;&gt; P\/E Ratio An Quick Method to Value a Stock<\/a><\/li><\/ul><\/nav><\/div>\n<h6><span class=\"ez-toc-section\" id=\"by_Gorica_Gligorijevic\"><\/span>by Gorica Gligorijevic<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p><span style=\"font-weight: 400;\">Tom next is a short-term transaction in foreign exchange when you <a href=\"https:\/\/traders-paradise.com\/trading-dictionary\/t\/tom-next-or-tomorrow-next-trade\/\">buy and sell currency together<\/a> over two separate days. Actually, it is a business day we are talking about. <\/span><span style=\"font-weight: 400;\">One day is tomorrow in the sense of one business day. The following day in sense of two business days from today is known as the spot date.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The main aim of this transaction is the traders and investors keep their position and are not forced to exercise real delivery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, suppose you already know that in the Forex market, each transaction carries an attached value date. That is the date when buying or selling activities will hit their value. The value date happens 2 business days after the transaction is executed. The profit or loss generated by the <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/03\/currency-carry-trade\/\">buying and selling<\/a> is settled into a particular account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To be more clear, when you take a position in a currency it is expected that you will deliver the currency in two days. But, a lot of Forex traders are gambling and don&#8217;t even think of taking delivery on the currency.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"That_is_the_point_where_tom_next_comes_to_the_scene\"><\/span><b>That is the point where tom next comes to the scene.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you open and close a position in the same business day, the value dates will be identical for every transaction. Your positions will not be carried over into the next day. Your payment has already been accomplished and will complete on the same value date.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In <a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/10\/carry-trade\/\">currency trade<\/a>, delivery happens two days after the date of the transaction. Tom next trade occurs because the majority of currency traders want their positions to be rolled-over daily. Their goal is not taking delivery.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The purpose of tom next is to restrict traders from having to take delivery of currency and keep their forex positions open to the next day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like stocks, forex trades end when the trader takes delivery of the asset. In forex, the delivery day is two days after any transaction. That is the spot date, but tom-next can be applied to prolong the trade after this date. So, the position will be extended by using tom next and you&#8217;ll be able to swap any overnight positions for an equal contract that begins the next day. The difference between these two arrangements is the tom next adjustment rate.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"So_this_simultaneous_transaction_is_a_Forex_swap\"><\/span><b>So, this simultaneous transaction is a Forex swap.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Depending on what currency you hold, you&#8217;ll be charged or earn a premium. If you are holding high yielding currencies you will roll it over at a more pleasant rate (minimum is the best) because of the interest rate differential. This differential is the cost of &#8220;carry&#8221;.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, if two currencies have the same interest rates, they will be swapped at an identical rate.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you choose not to roll over your position you will be forced to take delivery of that currency. Well, this is unusual, so the tom next transaction is basically the prolongation of your position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The policy of rolling a position over is more valuable in commodities trading. If it is not finished, you will be left with the delivery of the underlying assets.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_does_it_work\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-16777  alignleft\" style=\"letter-spacing: -0.3px; color: #333333; font-family: Roboto, sans-serif; font-size: 14px;\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1.jpg\" alt=\"Tom next what is it - explanation with examples\" width=\"374\" height=\"235\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1.jpg 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1-300x189.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1-768x484.jpg 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1-370x233.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1-760x479.jpg 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/08\/tom-next-1-424x267.jpg 424w\" sizes=\"auto, (max-width: 374px) 100vw, 374px\" \/><b>How does it work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Your broker will swap or rollover your position for a new deal that starts the next day. The final result is an adjustment, higher or under, to the opening price for your position on the next day. You will see a tiny difference in the opening price from one day to another day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your broker will debit or credit your trading account depending on the change in interest rate. Let&#8217;s say you are long with a currency with a higher interest rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What your broker will do?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your broker may credit your account with interest payments. However, if you are long with a currency with a lower interest rate,\u00a0 your broker will pay interest payments from your account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A tom next will not be applied if you close the position the same day before 17:00 EST. How? There is no overnight delivery involved.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_do_you_calculate_tom_next\"><\/span><b>How do you calculate tom next?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The calculation is based on the closing level of the former position, and the change in interest. <a href=\"http:\/\/en.wikipedia.org\/wiki\/Foreign_exchange_swap\">Swap<\/a> points plus any interest on your unrealized profit or loss will produce the change on your account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rollovers that appear on Wednesday will have an added two days worth of interest. You know, for the weekends the banks are not working, so the broker will automatically credit or debit your account.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tom_next_example\"><\/span><b>Tom next example<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For example, you are long USD\/EUR at rollover and the average entry price is 120.00. In this case, you select to hold your position. Let&#8217;s say, just for the purpose of this example, the quote for the tom next swap points received from the bank is 0.025 \u2013 0.012.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What will happen? Do you remember, this is a simultaneous transaction?\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A rollover, your broker will sell and buy USD, and at the same time buy and sell EUR. The final result is that you get a bid rate of 0.012 in your favor. The average price of your position will diminish by the number of Tom-next swap points.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The\u00a0 adjusted price of your position will be\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"12000-0012_119988\"><\/span><strong>120.00-0.012 =119.988<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Tom next adjustment is used to calculating the overnight funding charge on your trading position. You have to pay it if you want to keep your trade open for more than one business day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rates can be changed on a daily basis because they are based on the underlying market price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you want to buy a currency with a higher interest rate, you will get an interest payment. Hence, if you choose to buy a currency with a lower interest rate, you will pay interest. This payment is known as the <a href=\"https:\/\/traders-paradise.com\/trading-dictionary\/c\/cost-of-carry\/\">cost of carry<\/a>.<\/span><\/p>\n<hr \/>\n<h3><span class=\"ez-toc-section\" id=\"You_might_also_like\"><\/span>You might also like:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"%3E%3E%3E_Best_Trading_Strategy_Without_Indicators_In_Forex\"><\/span><a class=\"post-24364\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/08\/best-trading-strategy-without-indicators-in-forex\/\" rel=\"bookmark\">&gt;&gt;&gt; Best Trading Strategy Without Indicators In Forex<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"%3E%3E%3E_How_to_Use_Technical_Indicators_to_Analyze_Stocks\"><\/span><a class=\"post-22198\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/how-to-use-technical-indicators-to-analyze-stocks\/\" rel=\"bookmark\">&gt;&gt;&gt; How to Use Technical Indicators to Analyze Stocks?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"%3E%3E%3E_MACD_Indicator_%E2%80%93_Moving_Average_Convergence_Divergence\"><\/span><a class=\"post-20959\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/03\/macd-indicator-moving-average-convergence-divergence\/\" rel=\"bookmark\">&gt;&gt;&gt; MACD Indicator \u2013 Moving Average Convergence Divergence<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"%3E%3E%3E_Indicator_Trading_And_How_To_Use_It\"><\/span><a class=\"post-20349\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/01\/indicator-trading-how-to-use\/\" rel=\"bookmark\">&gt;&gt;&gt; Indicator Trading And How To Use It<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"%3E%3E%3E_PE_Ratio_An_Quick_Method_to_Value_a_Stock\"><\/span><a class=\"post-20677\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/02\/pe-ratio-quick-method-to-value-a-stock\/\" rel=\"bookmark\">&gt;&gt;&gt; P\/E Ratio An Quick Method to Value a Stock<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>3 min read by Gorica Gligorijevic Tom next is a short-term transaction in foreign exchange when you buy and sell currency together over two separate days. Actually, it is a business day we are talking about. One day is tomorrow in the sense of one business day. The following day in sense of two business [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":16778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1014,1012],"tags":[90,1170,1169],"class_list":["post-16776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","category-traders-secrets","tag-forex-trading","tag-forx","tag-tom-next"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tom next what is it - explanation with examples - Traders-Paradise<\/title>\n<meta name=\"description\" content=\"Tom next is a short-term simultaneous transaction when you buy and sell currency together over two separate days. 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