Lost More Than %50 Of My Profits In a Hour While Shorting Turkish Lira....
I shorted Turkish Lira with 2x leverage 9 months ago, when it was around 7.5. I knew that president like Erdogan would bankrupt a country so I was really sure about my position. I was bragging out to my friends every fucking month, and because I shorted TRY with more than %10 of my portfolio my profits were huge. Two days ago I was in profit about %225. TRY lost more than %50 of it's value in a month, so I was so fucking sure that they were going bankrupt. After CB of Turkey decreased the interest rates USD/TRY hit 18.50. I was calling all of my friends and bragging about it. Then 6 hours later, the president announced a new financial system that caused USD/TRY to fall down by %30. I panicked and closed all of my positions with %120 profit but do I regret about not taking that %225 profit...
I will not fucking invest to currency of another 3rd world country ever again. I'm having diarrhea since yesterday because of this. Seeing that instant -30% was fucking scary.
Imagine indexing local currency to the USD while giving %15-19 interest rate and covering the losses caused by the currency movements, 6 HOURS AFTER CB decreased the interest rates to adopt a ''Chinese low-value currency model'' to increase exports. Literally a shit show.
Note for the future: Don't invest to the currencies of 3rd world countries ever again.
Necessitatibus ea atque optio cum illo. Molestiae iure voluptates consequatur voluptas eligendi aperiam velit. Facilis voluptates magni voluptate debitis consequuntur eos.
Vel possimus sunt consequatur error unde. Voluptatibus reprehenderit maxime nobis est dolor eaque sint aut. Quisquam accusamus maiores sed maxime corporis eum. Quis omnis error possimus quisquam dolorem.
Corporis iste nulla magnam autem. Dolorem autem veniam pariatur ratione. Et sit dolorem ut ut qui amet voluptatibus. Laudantium praesentium vero quis qui. Eius iure et molestiae placeat.
Facilis et ut repellendus dolores. Nihil sit dolores ut. Fugit voluptatem aut dolore nihil. Similique vel consequatur consequatur quasi voluptatem dolore autem. Quia deleniti cupiditate eos sit officiis quaerat atque. Quasi id velit ipsa tenetur consequatur mollitia et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...