aud\jpy- 10 pips is really too much spread to profit daytrading in forex mkt. difficult to calculate where to enter. Here is refco's spread sheet- Bid/Ask Spread 4-5 pips on the Majors and 5-20 pips on the Crosses: U.S. dollar / Japanese yen (5 pips) U.S. dollar / Swiss franc (5 pips) U.S. dollar / Canadian dollar (5 pips) Euro / U.S. dollar (4 pips) Euro / Great Britain pound (5 pips) Euro / Japanese yen (5 pips) Euro / Swiss franc (7 pips) Euro / Canadian dollar (10 pips) Euro / Australian dollar (20 pips) Great Britain pound / U.S. dollar (5 pips) Great Britain pound / Japanese yen (10 pips) Great Britain pound / Swiss franc (15 pips) Swiss franc / Japanese yen (10 pips) Australian dollar / U.S. dollar (5 pips) Australian dollar / Canadian dollar (10 pips) Australian dollar / Japanese yen (10 pips) New Zealand dollar / U.S. dollar (5 pips) New Zealand dollar / Japanese yen (10 pips) Canadian dollar / Japanese yen (10 pips) Order Sizes On the RefcoFX trading platform all trades are executed in standard sizes of 100,000 base currency per one lot. There is no maximum trading volume on the RefcoFX Trading Station, however, for trading sizes larger than $10 million, traders must request a quote over the telephone. Margin RefcoFX enables currency trading to be conducted on a highly leveraged basis. You are able to select the degree of leverage or gearing that the client wishes to employ in trading. Unless you specify otherwise, RefcoFX sets your leverage level at RefcoFX's most lenient requirement. The requirements for leverage vary with account size. Accounts Under $50,000: minimum $1,000 in equity per open lot (1%) Accounts $50,000 - $200,000: minimum $2,000 equity per open lot (2%) Accounts $200,000 - $500,000: minimum $3,000 equity per open lot (3%) Accounts Over $500,000: minimum $5,000 equity per open lot (5%) Equity is the value of funds in the account adjusted for floating profit/loss on open positions. One lot has an approximate market value of $100,000. A requirement of $1,000 in equity per open lot is, therefore, approximately equal to a maximum leverage or gearing of 100:1. Dealers constantly monitor the leverage levels of all accounts. Although RefcoFX makes no guarantees, the dealing desk may attempt to contact clients whose accounts are near the minimum equity requirement for their open positions. Clients are fully responsible for monitoring the activity in their accounts. In the event that an account exceeds its maximum allowable leverage, the dealer has the right to liquidate all positions in the account, without notice. Any one successful here?