Thread: money management of USD20k

I've been contemplating a carry trade method of USD/TRY because JPY is volatile and USD was for a very long time in a freefall from the TRY.

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 in a position to take profits every transaction and take about $100 in interest every weekend with the maximum commerce being held and getting back in on intraday retracements.

I'm wondering what you guys consider the USD/TRY fundamentals during the next few months because I'm considering taking this egy live shortly with minis. Because USD/TRY is making new lows everyday it sounds, I'm hesitant to take long term carry trades without feeling familiar with areas.

Originally Posted by ;

I have 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 quite a while.

The past month or so I have been demo trading USD/TRY using T/P ranging between 20-50 pips based on support amounts and S/L set out hundreds of pips away. I have been able to take profits every transaction and take about $100 in interest every weekend together with the longest trade being held and getting back on intraday retracements.

I'm wondering what you guys think about the USD/TRY fundamentals over the upcoming few months since I'm thinking about taking this egy live shortly with minis. Since USD/TRY is creating new lows everyday it seems, I'm reluctant to take long-term carry trades without even feeling comfortable about places.

I would curious to learn about this too. . The dollar fundamentals look feeble, chance of rate cuts. . But to be honest I know very little about the turkish market. . It would be good if somebody could shed some light on this to us -)

Originally Posted by ;

I would curious to find out about this too. . The dollar fundamentals look fairly feeble, chance of rate cuts. . However, to be honest I know very little about the market. . It'd be good if somebody could shed some light on this to us:--RRB-

yes Turkish market....
Well, very few ppl could advise.

I would love to know about it too, because the INTEREST RATE is so appealing...

Looking at fundamentals, Turkey is in a booming time right now with loads of Global companies setting up their their offices their egic hub between Europa and middle East (Toyota only started a factory there and loads of another huge players, sorry I cannot remember the names...)
There are plans to modify the Turkey Lira in 2009 therefore it seems the current TRY will remain more powerful Vs USD (which currency is not right today?)

Well, I'll held a few TRY at least before next year.
However, know about strong corrections.