It is no longer news that the coronavirus pandemic has most parts of the world on lockdown
presently. Definitely, this lockdown will prevent people from going to their places of work, and
as a result, this will create a massive dent in a lot of people’s finances as a lot of spending is done
in this period on feeding and other necessities.
There is no equivalent money-making activity to
fill the pockets.
However, for forex traders, this pandemic outbreak is just like any other day of the year, as
trading does not stop. And it is not affected by the lockdown in any part of the world. In fact, it
serves as just another pointer to make more profit for refers as it might serve as an indicator
whether to buy or sell a particular currency pair due to the effect of the coronavirus outbreak on
the economies of the nations spending the currencies.
An added advantage of this lockdown to forex traders is the fact that it gives more time for them
to concentrate on their trading as they basically have nowhere else to go. Let’s take an
illustration of full-time forex traders, this lockdown is only giving them ample opportunity to
live their healthy lives (Quite ironic, right?!).
Also, as a forex trader, everything you need can be
found online (from training courses to live webinars or books). You do not need to step out of
your home regarding your forex trading.
Note: Read my article on Trading Pinbars in Forex: Click here.
Now, here are some recommended activities for traders to try to help make their Forex even
more profitable during this pandemic:
• A part-time forex trader: This is the best moment for you to improve on your trading
skills as you do not have to go to your real job. Take advantage of this period, learn new
techniques, review and perfect the ones known already, and, most importantly, maximize
your profits. Do not take the free time to just slack off and laze around but take deliberate
steps towards improving yourself as a trader.
• As a full-time forex trader: No matter how good and skilled you are, there is always
room for learning and improvement. Pick up a book/course on that new technique you
want to learn, connect with others, and share trading techniques. Have records of trades
you’ve carried out and the mistakes you made. There should still be ample time to even
catch up on interests outside Forex.
• As a newbie interested in learning Forex: This is probably the category with the
highest amount of work to do, but this is just the perfect time to learn Forex. Make sure
you understand the basics quite well so you can easily comprehend the more
Buy courses from excellent tutors, connect with pros in the
field, and learn from them. It is also quite essential to have a mentor who will help guide
you from going through the same mistakes he/she made while starting out.
Note: Learn how to use the Fibonacci Retracement Tool. Click here.
You should also, be ready to devote your time to studying (there’s isn’t really much to do, is there?).
going by these few tips along with any other ethical practices that you might find worthy of
emulation. You should be able to increase the profitability of your forex trades in this period.