Finally, the big day has arrived. I don't really like these sort of events; everyone has been talking about the US elections so much that it feels like it has been going on forever. Perhaps I'm just getting old because I don't like fireworks anymore either.
Still, since we are in the forex business, we must keep an eye on these events and analyze their impact on the forex market. Here at FXML, we have covered the period running up to the election day, but today is the moment of truth.
One thing we forex traders have to keep in mind today is risk control. Despite the polls, we don't know for sure who will win the elections, so keep your assumptions to a minimum. The US president is also a world president to some degree, so we tend to like or dislike the candidates, but don't let sympathy for either candidate cloud your judgement.
Also, don't be greedy; today is not the day. Yes, there might be some good trading opportunities, but don't bet your life savings in just one day. There will be plenty of opportunities in the days to come to make a good profit. By the way, check your margin requirements because most brokers have adjusted them today. This is just in case, so you don't get a margin call.