Sorry about your loss on the pair. You know the usual advice - Trade what you see not what you think. My trailing stops got hit this morning. Gained about 10% increase of account balance. I’m going to begin another series of longs. Expect usd/try to continue up. Use small lot size on this pair!
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I found an interesting site that projects future prices, caveat emptor. this pair has been going up more than their projections.
http://30rates.com/usd-to-try-today-forecast-dollar-to-turkish-lira
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here’s another interesting site. Futures quotes. Will it get up to 8.4 ? I’m staying in longs.
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Thank you Talon, for the comments and the websites.
I have used CME currency futures for some time now but while Mexican Peso future charts have a lot of data points
(due to being more liquid) and you can narrow them down to hourly volume/candles, Turkish lira futures are very sparse
and anything below daily chart does not offer you much. Also, try looking ahead (e.g. December contracts) and you will
get basically zero data points. I am comparing MXN/USD and USD/TRY futures because they are both EM currencies…
What I find more helpful is looking at XU-BIST100 and MSCI Turkey i-shares ETF charts, both having a tight correlation
with USD/TRY spot. However, correlation and CAUSATION are like chicken and egg: which comes first? It is up to the beholder to know how to make trading decisions… No chart offers the future, not even…a futures chart 
I am shorting EUR/TRY again as it has come to +90 RSI on both daily and weekly for the first time in ages and on the monthly for the first time EVER. On the hourly the RSI has started diverging today for the first time from price action,
all signs that the rally (for now) could be over. I am now up £213 on my short at £0.74/pip, so up about 290 pips.
Good luck on your longs, and on my shorts
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And good luck on your shorts and my longs 
currently I have only one small long after trailing stops got hit on the others. Not adding any more until it starts moving and it does look toppy here but I’ll continue to hold a long bias on it for now.
Thanks TalonD
had a good run of EurTry today, earned back 1000s. It was an amazing run.
Turkey’s MSCI ETF was a high-volume buy, which consolidated my decision to sell EURTRY.
I guess that you stayed on the sideline today?
My broker increasing margin requirement for turkish Lira, until 25 times from normal margin, due high volatility on usdtry and also eurtry
another broker they don`t allow trade on these pairs due for safe cocmpany and client
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@bearish yes, it has been really bad this last couple of days: usually TRY gets quoted at normal spreads during the more liquid (European/US) sessions but it has been pretty horrendous so far this week, like 200-pip spreads in the middle of the day!
As you say, hard to trade…
But, EURTRY has huge intra-day volatility so even paying 200 pips to the spread you can more than make it back, e.g. get a 3000-pip profit and subtract 200 pips from it: what are you left with? Quite a lot…
So it is the price to pay for such a currency…
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yes on the sidelines for me, The huge up move recently is being retraced so I closed the one small trade I had. I’m not ready to try shorting it.
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Indeed its become great opportunity, but because I use STP account and when I am trying to open trades my money not enough to open trades, so I only look these opportunities as an audience because I can`t open trades due margin requirement increasing 25 times on my broker, so I missed this opportunity
sorry to hear that, Bearish.
Look at this: 13,000 pips down from its all-time high!
Spread is down to about 100 pips at the moment.
I am shorting the hell out of EurTry as this is what I have been waiting for in the last six months!
Got thrown out of the trade…
Crazy spread… 390 pips… It is still in the US session… I have been following the UsdTry and EurTry pairs for months and I have never seen spreads like these.
I am staying clear and looking at other pairs for opportunities, until the next move on the Lira is on.
Very high spreads, it is unimaginable for retail traders who only use a dime of capital, they cannot make transactions because there is not enough margin to open a position on usdtry pair
However, brokers may increase spreads on pairs with high liquidity because they do not want to lose and this is an opportunity for brokers to also get big profits
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I really like this pair recently, I’ve been able to take it up and down. The Turkish economy’s fundamentals are resulting in some predictable price action and it’s blood in the water for the sharks who know where to bite. I hope you’re benefiting too! Keep it up!
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I have stopped trading this pair as it is currently not moving
I’m back to taking some longs on this pair. That huge spike had to have a correction but I think that’s over now, back to longs
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It all looks a bit unstable… How did you get on?
Closed all positions on Friday afternoon since it’s a holiday here.
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