Thanks for sharing your performance and lessons learned. Interesting read!
The huge bullish surge on Friday hit the SL on my long-term short position EURTRY (carry trade). Yes, I even use SL on my long-term position when trading EURTRY or USDTRY. I am just not comfortable trading the TRY pairs without a SL, since these “1000-pips-jumps” seem to occur once in a while.
At the moment I have no open positions. Since I am only interested in long-term trades, I will wait for the pair to loose the bullish momentum. My entry signal is a crossover of the 10 and 20 day EMA.
Overall one can say that my first experiment with TRY pairs was not succesfull in terms of profit (total of -1760 pips). However, I learned my lesson (I hope). I missed the exit point (there I had about 500 pips of profit). With other pairs I ususally exit when the MACD line crosses the signal line (26,12,9). With these pairs I got carried away by the carry trade and I wanted to hold onto my positions even though my exit signal was popping up. I underestimated the impact of the price movement against the carry.
As I said, I will take a pause until I have an entry signal again for a short trade. Next time I will apply the exit rules I use for other pairs.
I am still very excited about these pairs.