PLN, HUF, CZK, TRY ???

[chief economist]

Any traders interested in European emerging currencies? Do you have any experience? I think it is attractive in the long term if you follow local macroeconomic data and central banks' statements. I' m waiting for your opinions.

Hi, everyone! I am wondering about trading on emerging Europe currencies such as PLN, HUF, TRY, CZK... I think that in the long term it could be profitable if you follow local macroeconomic data and central banks' statements... do you have any experience in those markets? I am waiting for your opinions.

 

[Enivid]

They have nice potential, but the crazy high spreads are killing it.

 

[JohnyStan]

They have nice potential, but the crazy high spreads are killing it.

It's true, you can say the same about RUB.

 

[chief economist]

High spreads make them poor for day trading. I think that the first thing you have to do is to forget about high spreads and fast profits and then these currencies have nice potential. Do you know any good research of these markets?

 

[jlangeles]

Personally I follow and trade the MXN because is my own currency, but I also trade SEK and NOK, which are not that common, as you say, following the macroeconomic data helps you a lot, though, is also true that high spreads kill you, but only if you like to scalp, with longer strategies they return good ammounts of money.

 

[chief economist]

I went short on the USDTRY at the beginning of the month and the trend is stable on this currency pair . On the EURUSD I had lost several times on daytrading during this period