I am looking at 240 min chart of EURGBP. Are we heading for another breakdown? I am watching closely, and maybe, we are looking at 0.87-ish. What do you think?

Some technical statistics:

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So, we know NFA has been changing rules. Retail traders are complaining, moving away from U.S based brokers.

But, is the change really bad? Well, firstly, I am not trying to defend NFA. I am just thinking, should I really look for another European based, or Australian based broker?

I am not sure. The change of the margin requirement does not affect my trading, since I am never a high leverage player. So, increase capital requirement of broker, increase margin requirements for Forex position, is there anything that I miss out and it is really bad for the business?

Any thought?

And, about European brokers, I’m totally unfamiliar with them, and hence,not confident of sending money to them. So, I maintain status quo now, leave my trading fund with some big U.S based broker.

I’ve only made a couple of trades early of the week. I generally do not initiate new positions during FOMC, NFP week. So, most of the time, I am just enjoying watching the markets.

Meanwhile, I am preparing my travel-trading plan for the coming months. As mentioned before, I’ll be travelling around South East Asia countries for the next few months.  One thing for sure is, I’ll never stop trading. So, I need to get my equipments setup.  On the other hand, we are heading into holiday season soon (Christmas, New Year is around the corner), I think it is worth to observe the volatility and liquidity for the coming month.

No open position at the moment.