anyone trading TRY/JPY, with which broker? | Forex Factory

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anyone trading TRY/JPY, with which broker?

  • #1
  • First Post: Nov 4, 2007 1:27am Nov 4, 2007 1:27am
has anyone traded the TRY/JPY and with which broker ?

when carry trades unwind, both JPY and TRY will strengthen against their base currencies.........so what happens to the TRY/JPY when carry trade unwinds ?

is this pair even more volatile than the usual xxx/TRY and xxx/JPY pairs or is TRY/JPY actually safer ?

pardon me if this post sounds stupid as i just realized that this pair actually exists !
  • #2
  • Nov 4, 2007 11:51am Nov 4, 2007 11:51am
Quoting findcount
has anyone traded the TRY/JPY and with which broker ?

when carry trades unwind, both JPY and TRY will strengthen against their base currencies.........so what happens to the TRY/JPY when carry trade unwinds ?

is this pair even more volatile than the usual xxx/TRY and xxx/JPY pairs or is TRY/JPY actually safer ?

pardon me if this post sounds stupid as i just realized that this pair actually exists !
Well I traded some TRY JPY. I have an account with MIG. The spread varies a lot, so it's rarely at 15 (13 since November), most of the time it's around 40 to 80.

It can be quite lucrative, but I'm not touching it until the problems with the N Iraqi Kurds are cleared + of course who knows what else might happen.

In my experience it is more volatile, also larger spread + gaps (at least with MIG).
Greed and impatience are our greatest enemies.
  • #3
  • Nov 5, 2007 5:31am Nov 5, 2007 5:31am
so try/jpy is more volatile than eur/try and gbp/jpy ?

if that's the case, yikes.........!!!

or maybe can hedge with i don't know.......chf/jpy maybe ?
  • #4
  • Nov 5, 2007 7:03am Nov 5, 2007 7:03am
I know Oanada has that pair.....but as far as hedging, I couldn't begin to tell you with what pair.
  • #5
  • Nov 5, 2007 9:19am Nov 5, 2007 9:19am
Oanda and saxo have it I believe.

Why would TRY strengthen if the carry trades unwind?
If the carry trade unwind TRY/JPY will probably unwind too. It has certainly been the case historically.

As for hedging, NZD/JPY is fairly closely correlated.

Quoting findcount
has anyone traded the TRY/JPY and with which broker ?

when carry trades unwind, both JPY and TRY will strengthen against their base currencies.........so what happens to the TRY/JPY when carry trade unwinds ?

is this pair even more volatile than the usual xxx/TRY and xxx/JPY pairs or is TRY/JPY actually safer ?

pardon me if this post sounds stupid as i just realized that this pair actually exists !
  • #6
  • Nov 6, 2007 1:19am Nov 6, 2007 1:19am
Quoting peterM
Oanda and saxo have it I believe.

Why would TRY strengthen if the carry trades unwind?
If the carry trade unwind TRY/JPY will probably unwind too. It has certainly been the case historically.

As for hedging, NZD/JPY is fairly closely correlated.
oanda only have eur/try and usd/try......oh yeah, i got it backwards TRY will weaken during unwinds.....

so during unwinds, TRY/JPY will plunge big-time ? even more than other carry trade pairs ? somehow i was hoping it'll be less volatile......
  • #7
  • Nov 6, 2007 2:39pm Nov 6, 2007 2:39pm
yes with oanda, but crossing it to get TRYJPY
Trading for a living!
  • #8
  • Nov 6, 2007 6:51pm Nov 6, 2007 6:51pm
Quoting findcount
oanda only have eur/try and usd/try......oh yeah, i got it backwards TRY will weaken during unwinds.....

so during unwinds, TRY/JPY will plunge big-time ? even more than other carry trade pairs ? somehow i was hoping it'll be less volatile......
I don't know if it has every time.. See what happens to NZD/TRY during a carry unwind, that will tell you.
  • #9
  • Edited 7:06pm Nov 6, 2007 7:03pm | Edited 7:06pm
Quoting findcount
oanda only have eur/try and usd/try......oh yeah, i got it backwards TRY will weaken during unwinds.....

so during unwinds, TRY/JPY will plunge big-time ? even more than other carry trade pairs ? somehow i was hoping it'll be less volatile......
I have been carrying TRY/JPY since 08/31/2007 with ODL Securities (in demo as I have been experimenting with carry trade interest). I had entered @ 89.37, currently it is @ 97.83. Total Cary Trade interest earned on $10,000 is $22,102.95 as of today. Paid off very well.

I suggest that you open a demo account and play around with the various currencies. One thing you have to keep in mind is that TRY is an exotic currency, so therfore, it is highly volatile.
Humble Lifetime Member
  • #10
  • Nov 7, 2007 7:13am Nov 7, 2007 7:13am
Quoting Ash
I have been carrying TRY/JPY since 08/31/2007 with ODL Securities (in demo as I have been experimenting with carry trade interest). I had entered @ 89.37, currently it is @ 97.83. Total Cary Trade interest earned on $10,000 is $22,102.95 as of today. Paid off very well.

I suggest that you open a demo account and play around with the various currencies. One thing you have to keep in mind is that TRY is an exotic currency, so therfore, it is highly volatile.
the swap alone is more than 22,000 or including trade profits ?

so how many pips did it drop during the july/august unwind ?
  • #11
  • Nov 7, 2007 7:14am Nov 7, 2007 7:14am
Quoting fxreport
yes with oanda, but crossing it to get TRYJPY

problem with doing a synthetic at oanda will require double the margin and less swap then just try/jpy straight......
  • #12
  • Nov 7, 2007 7:21am Nov 7, 2007 7:21am
Quoting findcount
the swap alone is more than 22,000 or including trade profits ?

so how many pips did it drop during the july/august unwind ?
I don't remember, I went and opened a demo carry trade account after the unwind. You can go a chart and see. In addition to those pips is the interest earned. I am just waiting for another carry trade unwind to go in.
Humble Lifetime Member
  • #13
  • Nov 7, 2007 1:31pm Nov 7, 2007 1:31pm
Here is a daily chart of TRYJPY.

It can be a very lucrative investment.

Nice interest rates for Turkey:

Middle East CountryCurrent Interest RatePreviousLast Change Turkey16.75%17.25%Oct 16 2007

This means at 10:1 leverage, you have a 162,5% return on your investment annually. But, you never know what will happen to it

I made some nice profits on this one, also had some losses in august...

[IMG]file:///E:/DOCUME%7E1/Jan/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]
Attached Image (click to enlarge)
Click to Enlarge Name: chart1-3.jpg Size: 131 KB
Greed and impatience are our greatest enemies.
  • #14
  • Nov 7, 2007 9:29pm Nov 7, 2007 9:29pm
so the drop is pretty similar to the most volatile xxx/jpy and xxx/try pairs........more than 2000 pips .........i was afraid it would be much more.......

another big unwind would be good.......so may i ask which broker offer this TRY/JPY ?
  • #15
  • Nov 8, 2007 6:35am Nov 8, 2007 6:35am
As I said before, I trade with MIG Investments. www.migfx.ch

They are my only broker with whom I have a trading account so far. When I was demoing I tried also CMS Forex and I don't think they had TRY pairs listed.

Not sure though.

Regards,

J
Greed and impatience are our greatest enemies.
  • #16
  • Jan 5, 2008 5:28pm Jan 5, 2008 5:28pm
Anyone still working this pair? Might be an interesting long-term investment for 2008...
Greed and impatience are our greatest enemies.
  • #17
  • Aug 12, 2010 3:45am Aug 12, 2010 3:45am
i am but with Oanda
  • #18
  • Aug 16, 2010 10:22am Aug 16, 2010 10:22am
Quoting mr.az
i am but with Oanda
Hi. I also plan to do a long carry trade with this pair. What is the swap rate at Oanda? Can you write the details of your trade? Thank you...
  • #19
  • Aug 16, 2010 11:36am Aug 16, 2010 11:36am
GFT has try/jpy.

I don't know if this price is right. Its a zero spread pair and only worth $0.12 (100,000 contract) per move. Thats odd.
Attached Image (click to enlarge)
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  • #20
  • Aug 16, 2010 11:47am Aug 16, 2010 11:47am
Quoting Jhig
GFT has try/jpy.

I don't know if this price is right. Its a zero spread pair and only worth $0.12 (100,000 contract) per move. Thats odd.
Correction. I got the correct GFT spread on try/jpy. Expensive pair.
Attached Image (click to enlarge)
Click to Enlarge Name: tryjpy2.PNG Size: 12 KB
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