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money management of USD20k

  • #21
  • Oct 7, 2007 11:57am Oct 7, 2007 11:57am
I've been considering a short-term carry trade system of USD/TRY since JPY is so volatile and USD has been in a freefall against the TRY for a long time.

The last month or so I've been demo trading USD/TRY with T/P ranging between 20-50 pips depending on support levels and S/L set out hundreds of pips away. I've been able to take profits every trade and take about $100 in interest every weekend with the longest trade being held 4 days and getting back in on intraday retracements.

I'm wondering what you guys think about the USD/TRY fundamentals over the next few months since I'm considering taking this strategy live soon with minis. Since USD/TRY is making new lows everyday it seems, I'm hesitant to take long-term carry trades without feeling comfortable about retracement areas.
  • #22
  • Oct 7, 2007 1:11pm Oct 7, 2007 1:11pm
Quoting youalreadykn
I've been considering a short-term carry trade system of USD/TRY since JPY is so volatile and USD has been in a freefall against the TRY for a long time.

The last month or so I've been demo trading USD/TRY with T/P ranging between 20-50 pips depending on support levels and S/L set out hundreds of pips away. I've been able to take profits every trade and take about $100 in interest every weekend with the longest trade being held 4 days and getting back in on intraday retracements.

I'm wondering what you guys think about the USD/TRY fundamentals over the next few months since I'm considering taking this strategy live soon with minis. Since USD/TRY is making new lows everyday it seems, I'm hesitant to take long-term carry trades without feeling comfortable about retracement areas.
I would interested to learn about this too.. The dollar fundamentals look quite weak, possibility of more rate cuts.. but to be honest I know very little about the turkish economy.. it would be good if someone could shed some light on this for us :-)
  • #23
  • Oct 8, 2007 12:29pm Oct 8, 2007 12:29pm
Quoting peterM
I would interested to learn about this too.. The dollar fundamentals look quite weak, possibility of more rate cuts.. but to be honest I know very little about the turkish economy.. it would be good if someone could shed some light on this for us :-)
yes Turkish economy ....
well, not many ppl could advise.

i would like to know about it too, since the INTEREST RATE is so attractive ....
  • #24
  • Last Post: Dec 4, 2007 3:27am Dec 4, 2007 3:27am
Looking at fundamentals, Turkey is in a booming time right now with loads of International companies setting up their factory or their offices their as strategic hub between Europa and middle East (Toyota just started a factory there and loads of another big players, sorry I cannot remember the names...)
There are plans to change the Turkey Lira in 2009 so it seems the current TRY will keep stronger Vs USD (which currency is not right now ?)

Well, I'll held some TRY at least until next year.
However, be aware of strong corrections.
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