What is the COV 19 impact on forex trading?
I have been looking for a thread on this I am really intrigued
I think impact is tremendous because of widespread lockdown. But no doubt it offers excellent opportunity to buy assets cheap! Going to buy and hold BTC with Hotforex, I think its good investment and at low cost currently.
I’m a newby and I’m just working with a demo account over the past 2 months while going through babypips school. I would like to hear from the experienced traders on the effect of COV 19. Is the volatility due to the virus have a positive or negative impact on their trading strategy. It appears that forex is less affected than the stock markets. Looking forward to hearing from experienced members
Thanks
Forex doesn’t have to worry like the OTC trading markets do of getting halted.
But there’s always a chance that brokers could go down. I think it’s always an issue of liquidity. Is there somebody on the other side to take your trade. If liquidity dries up, there’s nobody to take your trade. Brokers don’t make money. And poof, they can’t operate.
But someone more knowledgeable on liquidity - and where it originates - will need to chime in.
There’s definitely volatility in the markets, which is good for trading, but these are unprecedented times.
BTC isn’t the safe haven people thought. Are you thinking we’re at a bottom or just getting in since price is close to 50% down over the last 30 days?
Impact is huge, at least in my opinion, I’ve been paying closer attention to NOKEUR, as I live in Norway. As soon as the first infection cases showed up, NOK started to weaken considerably. Then after each bad news came out it fell even lower, and as of today it has reached all time lows. And that’s only one currency pair.
Well BTC can’t spread germs like conventional currency’s can 
NOK is related to oil, not surprising it’s hit hard.
The virus pandemic has caused a flight of capital away from small and commodity-based with speculative currencies like AUD and NZD, towards “safe haven” currencies with large and stable economies, central bank governance and central government, such as CHF and JPY.
Whether that continues is a day buy day guessing game right now.
The pandemic has also increased volatility on all pairs - see ATR20 on the daily time-frame for the last 2 weeks compared to any 2 weeks of 2019. High volatility means excessively large wins if you get entry and direction right but it can also mean stops are missed by gapping, TP’s trigger way before the best price is achieved, and ask-bid spreads can be 10x the norm.
All trading tactics might need to be adapted for the current circumstances. Don’t fly blind.
I think volatility will remain high as governments figure out what to do. All of this is a fundamental shock that will be felt for years to come.
At the moment, I’m refusing to hold trades over the weekend. If I have a trade open on Friday night, I’ll just close it and re-enter on Monday morning.
Thanks for sharing!
The bottom should be at 2.5-3K, be ready to buy when everybody lose faith and stampede. It is difficult because of huge psychological pressure but is very rewarding.
I must say I feel better today. 48 hours of fever, drowsiness, headache, muscle pains in legs, swollen throat glands, abdominal cramps, loose stools… oh boy. Dodged a bullet there maybe. Had indirect contact with a person returned from northern Italy with flu symptoms who did NOT self-isolate.
I just thought you guys might like to know, I know you’re a caring lot under the hard-bitten exterior…
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Oh no! Get well soon! I hope it’s just the regular flu.
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China reports first day with no new covid-19 cases. Hoping they have now turned the corner.
Honest question. Do you believe their data?
I half-believe about half of what they say in China…
Hope you are better soon
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Just a tickly dry cough occasionally, no other symptoms thank you.