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Why I was short USDTRY?
Explaining my trade.
Since beginning of the week I'm running a short position in USD/TRY and I'm well over 600 pips in profits. The main reason why I got short is mainly because Turkey's Central bank raised the interest rates and secondly because of the high volatility in emerging market currency. Actually this is the first time I'm trading emerging market currencies. I always try to trade where the hot money are.
Last weeks the main market driven theme and ri…
Explaining my trade.
Since beginning of the week I'm running a short position in USD/TRY and I'm well over 600 pips in profits. The main reason why I got short is mainly because Turkey's Central bank raised the interest rates and secondly because of the high volatility in emerging market currency. Actually this is the first time I'm trading emerging market currencies. I always try to trade where the hot money are.
Last weeks the main market driven theme and ri…