Discussion in 'Forex' started by m22au, Apr 11, 2018.
Not even close.
So if I am U.S. dollar based, how, using what instruments, can I short to Lira? Sorry for rookie question.
If you want to "short Lira" you have to buy something with the proceeds of your sales of TRY.
What currency do you want to buy?
U.S dollars (the only currency I own other than 57 pesos from a Playa de Carmen trip many moons ago).
The Lira may have some correction in the short term, but long term this currency is going the way of collapse and revaluation.
So anyone know how I can go short the Lira against the dollar if the dollar is my base currency? This might be the newbest of newb questions, I know.
Buy USD/TRY via your broker.
However I'm not sure this is a good trade for you given that you don't know how to implement your (bearish on TRY) view.
Also are you aware of how much interest it will cost you?
thanks m22au. So, buy USD/TRY at my broker. Is that different than me just holding my assets in USD in the first place, as they are inherently long US $ short TRY? If it is, is there a certain name for the USD/TRY product or thing? Maybe just currency pair?
no idea on the interest. but if the interest spread i pay is lesser than the amount by which the lira depreciates via the dollar, i shouldnt care too much right?
Or you can just buy puts on TUR, which will follow TRY lower if your thesis is correct.
Separate names with a comma.