Is it better not to trade in the next couple of days?
Americans will vote on 8 November to choose their next president and based on current polls Clinton and Trump are close one another, what causing nervousness in the market and increases the risk. Most of the brokers are aware of the possibility of huge volatility in the coming days and that’s why they are changing the rules of trading lowering the leverage by changing the minimum Margin Requirements. They simply want to remove the possibility of huge draw down, which could happen with gaps and slipages, to protect themself and traders as well. That’s why, you should decide to trade or not in the next couple of days.
If you choose to trade and you’re broker didn’t make a move to protect you’re capital, you must be extremely careful to not make a huge damage on you’re account. My view is that, maybe it’s better to relax and to stay away from the market until everything ends and the market returns in normal conditions. You can see that the market players are reacting on every news and new poll results, but they can take an advantage of this, can you?
I will not analyse anything until next week, because technical analysis could be worthless in such a conditions. Take care and be careful!