Not too long ago I posted here letting everyone know that, in my opinion, the Currency market was kind of dead for day traders because you would fall asleep just looking at the screen all day without seeing opportunities whereas the futures market could offer you a lot more because you would have more opportunities in 30 minutes than looking at the EURUSD pair all day and possibly the whole week. Well it seems that Currency Market got a boost with this Coronavirus crisis.
It depends though. The environment is highly volatile at the moment. However, to give you a tip, DXY futures contracts are going higher at the moment, as the US dollar index itself is on the rise, point to higher demand of US dollar in the markets. There may be some buying opportunities here. Make sure you understand the risk involved before you start trading.
I don’t know whether I would call most of the market crashing “being resurrected”, but I suppose it’s one way to put it.
That said, this crisis has also facilitated many, many new scams, apparently.
Frankly, I’d much rather go back to the way the world was before, lazy market or no lazy market.
Well when this whole thing started I changed from indices to currencies because it was too scary on indices, things are moving so fast and change so fast that the best thing to do is to stay way but the EURO is behaving a lot better where before this whole thing was kind of dead. I said resurrected but I meant it kind gain enough movement to be day tradable again.
well…i wanna say a big thank you to babypips for teaching me how to trade…this week was my most successful week since i started trading in september…750pips whew…
I agree about that.
I am just concerned what the long-term consequences will be.
Definitely taking advantage of the volatility making the majority of money in a month or so that would take a year or so. Literally a few trades from just closing the shop for the year and just relaxing.
One week ago I changed to Indizes (dax30cash, sp500cash) and never again took a position in currencies. Honestly speaking, I made the most profit in my short Forex carriere these days with day trading Dax30cash. Nearly no commissions, nearly no spread, and high volatility. I have time to observe them all they long, and frequent rallies occur on a regular basis. Sometimes for some hours you see stagnation, but you know after that a decent move starts again. I stay with Indizes actually.
Babe don hammer like 2,000,000
Can’t let my dollars get further mollywhopped in these conditions
You cannot use the word resurrected as if it is a good thing. The fact that there is opportunity does not mean its a good thing. The market is experience some worst sh*t right now. If anything crashes we’ll have nothing to trade.
Volatility is a beautiful thing when you’re on the right side of it.
And a nightmare when you are not.
loads of profits to be made!
Not really. The markets are being massively manipulated at the minute, even banks don’t want to trade in these conditions
If you spend all day watching your screen(s) then you’re crazy! Even if you are a “day trader.” I don’t believe Covid19 has resurrected the forex market because Covid19 is controlling the market volatility at the moment rather than normal economic data.
It really does. I am curious to see how it will influence in long run.
There’s still a lot more mullah to be made tho. Don’t get conservative now