Hey there ProfitFarmers,
The US election is looming and whilst many of you probably don’t care so much about that or don’t feel it will have an impact on your life, sadly it almost always messes with the financial markets!
We will be pausing the algorithms until the election period completes
And here is why.
If you pull up the charts from the last election in 2016 you can immediately spot bizarre market behaviour.
This whipsaw price action is designed to create panic, fear and ultimately take money from as many people as possible.
With the election only days away now, now is the time for caution and protecting your capital. Remember that it is just as important to hold your funds safely as it is to make gains. A 50% loss means you need to make a 100% gain on your remaining balance to get back to where you started. Keep that in mind!
Cryptocurrency has a tendency to ‘overreact’ to market situations so a 5-10% whip on the stock market could translate into something much larger for Bitcoin and the rest, but not necessarily.
What can I do in the meantime?
Just for our members, we will be sharing a trade idea that could benefit/abuse this situation if it repeats. Keep an eye on your emails as we will share it over soon!
And don’t forget this is just a matter of days!
Wishing you all the best,
ProfitFarmers
