Shorting the Turkish Lire

[pastthepost 10]

Obviously, post coup and recent S&P downgrade, the Turkish lire will fall at least for the next few weeks.

 

So, taking a leaf out of Soros' book, could I short the lira?

 

I'm assuming there are controls against this sort of thing forbidding amateur investors from engaging in this sort of behaviour but I'm curious to hear about currency speculation.

[fxeconomist 11]

Obviously, post coup and recent S&P downgrade, the Turkish lire will fall at least for the next few weeks.

 

So, taking a leaf out of Soros' book, could I short the lira?

 

I'm assuming there are controls against this sort of thing forbidding amateur investors from engaging in this sort of behaviour but I'm curious to hear about currency speculation.

 

Yeah you can considering gloomy outlook on world growth and speculations that recession will soon hit Europe and maybe UK as well. You can start will small positions building them gradually as it moves in your favor. It is my strategy I use with Hotforex.

[pastthepost 10]

The Turkish lire fell short term but didn't really go below its low against the dollar of Sept 2015.

 

After the news of the coup in Turkey, the TRL crashed but found support not long after. The 'dead cat bounce' will run for a short time and so perhaps a 'sure trade' til the market returns to just before the coup. From then on, who knows?

[JoelDarr 10]

The Turkish lire fell short term but didn't really go below its low against the dollar of Sept 2015.

 

After the news of the coup in Turkey, the TRL crashed but found support not long after. The 'dead cat bounce' will run for a short time and so perhaps a 'sure trade' til the market returns to just before the coup. From then on, who knows?

 

Think this might be a nice chance to buy on the deep? Or is it going even lower?

[fxeconomist 11]

Think this might be a nice chance to buy on the deep? Or is it going even lower?

 

Start buying on bottom and gradually build position as it moves against you cuz the bottom has to be somewhere near current levels. Coup was supressed so I think nothing threatens stability of turkish economy.

Opened another two 0.03 lot bids on lira with Hotforex lets see how it goes.