Hey guys, as I’m sure you know the United States Election is tomorrow, November 8th. I’m not here to debate who anyone should be voting for, that’s not what this blog is for.
Yet, we do have to account for the impact this will have on the Foreign exchange market.
It doesn’t matter if you are a manual trader or an automated trader like myself, there will be erratic trading conditions this week. As a sign of precaution I have already started turning off some of my favorite EA’s. I turned off Forex Fury and Forex Steam earlier this morning.
As you can see in the image above if you are looking to turn off trading you can either close MT4 altogether or you can just click the Auto Trading button at the top of MT4. This will stop any automated trades until you turn it back on.
I know there will be many traders looking to take advantage of the erratic market conditions but I prefer to play it safe. Especially because I use so many automated systems and most robots aren’t coded to be able to handle drastic market turns.
I will look to reactivate the software early next week.
I may decide to run some new demo accounts this week to see how both Fury and Steam adapt to these conditions. This will help me better understand their logic and help me decide how I want to approach the next major news event.
Please feel free to let me know how you plan on approaching the US Election. I look forward to reading your comments and potentially doing some manual trading in the next few days if there is an easy way to pick up some pips. Thanks for stopping in guys and good luck!