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USD/TRY: an incredible pair.

Forextown - forums.babypips.com
Hello peeps!

I see so much is spent talking about EUR/USD...

but I would like to introduce a currency pair that is

completely out of the popularity contest:

US Dollar - Turkish Lira.

Just to give you an idea, this screenshot shows

you the monthly candles in the last few months:

Since the beginning of October this pair has ripped up

to bag an incredible, unbelievable, mind-blowing

NINE THOUSAND PIPS.

The average daily rallies in this pair are

600-800 pips...

The negative rollover on buying does not

apply if you trade it intraday, and if you do

trade outside the European open (7am GMT)

then spreads can be high, typically 40 - 60 pips,

but some of the rallies happen in the Asian-European

hours transition... With moves of that magnitude,

it matters little if you pay a higher spread, because the

rewards more than make up for the trade cost.

Trading it with FXCM, as I am, you will then get a spread

down to about 10 pips as the European hours liquidity

kicks in, and may catch further rallies.

I have lost some money on this pair in December as

price chopped around, and also this week trying to

short the pair... I am learning to trend-trade again,

and this is a great pair to practise on...

Today alone I made about 1,100 Pounds trading

between 5am and 5.30am GMT...

Handled carefully, this pair is one of the best movers in

town and can give you great returns.

Thank you for listening.

Happy Trading and Happy 2017!
Date: Jan 11, 2017   


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