SHORTING TURKISH LIRA

>>1383994
Can you please explain to me what a short is? I don't get this shit. I think I'm retarded.

>>1384035

When. You take a financial position that a security will be valued less in a given time frame rather than more.

That's it really.

>>1384035
It's the opposite of buying low and selling high.

You sell high and buy low. (yes, you sell stock you don't own)

>>1384040
Ok, that I understand. You think value will fall, so that's a reason to short.
>>1384043
THIS is what confuses me. How can you sell something you don't own? I can understand betting against something, but not selling something you don't have.

How does the process work?

Markets are closes you retard

>>1384043
Okay what the fuck, this deserves an explanation

>>1384049

You gotta borrow the shares from someone else. Literally a lone. If it goes down, u cash in HUGE because of the leverage. If it goes up and you aren't hedged properly, u get screwed with what is called "the short squeeze".

>>1384052
Thread was made just before close.

>>1384058
5 year business grad here. You get a loan from a broker sell that loan. Buy the loan back at a lower price and pay back.

>>1384064

Loan. Sorry, spell check sucks. You gotta get the securities loaned to you.

>>1384052
trade OTC

>Tfw new to /biz/ and don't know any of these terms.


Hope you make some money anons.

>>1384075
where?

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In laymen's terms, please.

You're saying to buy when it's high and when it dips, sell?

>>1384064
Ok, can you give me an example? How much can you make off of shorting a stock? Who lets you borrow the shares? And how can you set up a stop loss if things don't go the way you planned?

>>1384079
>>1384087
>>1384088
these, I legitimately want to learn this

>>1384087
If I understand correctly, you don't actually buy anything, you just believe that the stock will drop in value and so you somehow make money if you're right and it goes down.

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>>1384086
Depends where you live, there are OTC Brokers, you can also bet on pairs, which should have made some forex traders a good amount of money in the last few minutes

It's the middle of the night in Europe. Where on earth would I make an OTC deal now?

This really should have started a couple hours earlier

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>>1384108
Lang&Schwarz

>>1384118
Thank you. That's a Turkish mobile phone operator, though, correct? They don't seem to offer any leverage products on the Turkish Lira.

It's something, though

so i guess this is something i would buy if i'd be interested? searched highest leverage/basis value since we all know it's going up

http://www.boerse.de/hebel-zertifikate/WAVE-auf-EUR-TRY-Euro-Tuerkische-Lira-Deutsche-Bank-AG-/DE000DL4PGL5

>>1384162
>http://www.boerse.de/hebel-zertifikate/WAVE-auf-EUR-TRY-Euro-Tuerkische-Lira-Deutsche-Bank-AG-/DE000DL4PGL5

Yeah, the problem is you won't be able to buy it until monday morning and the price will probably already open much higher than it is right now.

You're all idiots the turkish lira was whack anyway this is not a good trading opportunity

As a huge noob, still on a demo account.

Short or long: on usd/try and Eur/try?

>>1384187

I mean, i don't have a clue of what to do.

The USD value will rise relative to the TRY.
Short it or long it?

>>1384191
yes

>>1384193

Long or short. Sorry I'm being a nuisance...

>>1384191
>>1384193
>>1384195
market is closed brahs, price will skyrocket as soon as it opens up again on monday

you missed this one

So for an example of shorting

You "sell" 1000 shares of stock A (that you borrow from the company) at $100 a share for $1,000,000.

Then after stock A plummets, you "buy" it back for $10 a share, paying the company back $10,000.

You then keep the $990,000 as your profit.

And when you short, you make an agreement to buy back the stocks at a certain amount of time - or are you in control of when you have to pay it back by?

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>>1384196

There's an option to place orders, so you still benefit from the rise.

Pic related.

Kopen means buy/long.

>>1384187
Call. USD/TRY and EUR/TRY indicate how many Lira you get for a Dollar/Euro. So when the Lira loses value the market price goes up.

Keep in mind that theres TRY/USD and TRY/EUR currency pairs as well, in which cases you would have to go put.

Anyways, as >>1384196 said. This is a missed opportunity for all of us due to the coup happening after market closure and considering that you guys don't seem to have full grasp of how this works I suggest you use a demo account for a while to gain some expierence.

There's still money to be made in the future.

>>1384201
I'm dutch, I know you can click the buy option but someone has to actually sell it to you at that price.

That won't happen

>>1384201
Those are CFDs which have subsequent payment obligations meaning you can lose more money than you invested. Everyone in here who can't even tell the difference between a put and a call needs to steer clear of those things

>>1384206

That's why I run the demo and try to find some stuff out.

I have £15k worth of exposure on USD/TRY at 3.00 before market close, where do you guys think it could be on Monday?

>>1384203
>There's still money to be made in the future

Yep, this november actually, for when Trump becomes president and we'll all short the dollar to whatever

>>1383994
OP FX Markets are closed right now. WHAT YOU THINK IS GOING TO HAPPED ON MONDAY I WILL DO 100 lots
BUT IN Wicht direction?

>>1384207

I didn't see that it was only a demo. Let us know how it goes. I read up quite a lot on CFDs and I'm afraid they're too complex for me and there seem to be quite a few rather seedy brokers. Considering it benefits the broker to cancel the contract at a worse price than the current market price and they're only upside over standard leverage products is trading while the markets are closed I don't think they're worth the risk.

Still, good luck

>>1384208
I don't have the slightest idea but congrats, I guess.

>>1384209

Fuck yea, short the dollar and long bitcoin, then I'll be fuckin rich as hell as the dollar creeps back into 1st one day. That would be my dream scenario.

>>1383994
have any of you goombas read 'the big short'? a couple of the traders from this book shorted thailand's currency because of a coup there. it turned out that the coup ended up having no effect on the currency. these particular traders actually entered into their short position before the coup even happened because they had inside word of mouth info. they lost money. not saying this will be the case with turkey, but you gotta wonder if the turkish military timed the coup like this just so they could screw over /biz/ posters.

I'm just a teenage twat with 2K euros, is there an way for me to make some proffit here? I know that it is only worth to buy gold/silvee in large amounts, but what about currency?

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>>1384242

>>1384255
Sorry for grammar, it is 02:20 and I fucked up

>>1384242
Of course, there's always a certain risk involved with trading and leverage products only multiply this. The coup may very well be seen as a step towards EU-integration and a flourishing future for Turkey but it also creates uncertainty which I think is the bigger issue right now.

Alas, I'm not taking the risk this time and I would advice anyone wanting to do so to workwith buy limits.

I'm going to bed now and I won't lose any sleep over the money I didn't make today.

>>1384256
o shit waddup!

not a forex bro :( how profit on monday after 9:30am EST?

>>1384274
you missed the boat m8, november will be your next chance.

i'm off to bed anyway, it's way too late gn brahs

>>1384263
something's H A B B E D I N G! here but i don't know what it is

>>1384280
ah well bon soir mon ami

>>1384088
>How much can you make off of shorting a stock
What you sell at minus what you buy at minus interest on loan (or fees if you buy bull/bear certs)
>Who lets you borrow the shares?
Broker
>And how can you set up a stop loss if things don't go the way you planned?
Broker
You can also buy a bull/bear cert with leverage. That has fees though

>>1384088

the way i've heard short selling explained is:
>be investor who thinks stock will go down in the short term timeframe
>buy stock from long term investor (plans to hold stock for 10+ years whatever for dividends, doesnt care about short term market fluctuations) with an agreement to sell it back to them at a later date for the same price. the short term investor investor pays the long term investor a fee for this nuisance (sort of like renting the stock imho).
>stock goes down, you win. pocket the difference between actual price and the price that you agreed to sell it back to the long term investor for. long term investor collects his fee. he would have been holding the stock anyway because he believes it will go up in the long term. everybody happy!
>if the stock goes up bigtime then you are fucking fucked. you can lose more money than you are even holding in your trading account and go fucking bankrupt! (correct me if i'm wrong, not super knowledgeable about this)

i have only shorted things by buying put options. you can double, triple your money if the price moves a few percentage points. you can lose your money very easily doing this, but not more than your original bet.

>>1384088
oh a word about using stops on options:
i think that the stop would be the bid price and the spread between the bid price and offer price can be pretty wide, especially in the mornings. the jews know where your stops are and they WILL take them out. what im saying is that if you are setting up stops on options, you should give yourself a wide berth.

you really need to be pretty confident if you are taking any kind of short position.

>>1384446
This helps a lot, thanks!

>>1384197
The lender aka broker, doesn't care when you pay back as long as you post collateral. They also profit from letting you short from interest and fees.

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I dont think i can the spread is over 1700 pips :/ ill check some other brokers

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Simple FX uses bitcoin as a base currency and the spread is 700 pips i think this is my best option

>>1384217

Monday I'll reply to this post with a screen. I'm curious too.

Hmhm, Turkish government is contemplating implementing the death penalty again. If this goes through it'll mean they won't ever join the EU. Wondering what this will do for the Turkish Lira