Forex and covid 19

Hi everyone, just a quick question, was forex active during the 2020 covid lock down?

errrrrr… yes I think so.

Did the world stop ordering food, cars, clothes, going to ATM machines? No.

Was Forex inactive? NO.

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during lockdown this market got too many traders but the sad news is most of the beginners bring huge losses , actually with very short time there is no way to make profit from there.

It will be interesting to see when the pandemic recedes just what was the impact of covid on various currencies and pairs. Its something that will probably benefit from a longer-term view using monthly time-frame charts over several years. Perhaps some strongly established trends will have been interrupted or reversed. But perhaps not - maybe we will soon find that the “covid years” are hard to pick out of forex pair price charts without date labelling.

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i think the forex might be even more active during lockdown with more people looking for alternative investment options plus more money to spend cause they can’t spend on traveling and such.

This is the prefect answer! :star_struck:

in this situation people looking for a job which relates in online , for that reason it become too crowded. the same situation also in crypto market.

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there are so many people who joined this market during lockdown , i have seen the beginners level very active in baby pips.

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That is true. It is probably also true for stock picker clubs, property investment seminars and gold / silver and ETF funds too. I hope this enthusiasm is also balanced by some other people aspiring to doing something real like plumbing, carpentry, electrician, IT support, construction, engineering, nursing, pharmacy and specialized doctors. :wink:

The other day I heard a surprisingly honest US university professor referring to some subjects these days as “therapeutic degrees”.

The sort of thing that feels good but doesn’t earn any money.

In covid situation this is the best place to earn money.

Everything is crashed to deal with the epidemic. Still not from the forex market but volatility has increased. Many are losing and many times good strategy is not working. So you have to be patient about this. The market will return to the previous situation.

@123Omarie

No, it wasn’t inactive. It opens 24*5, from Mondays to Fridays.

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No, it wasn’t inactive. Indeed! Because of job insecurity and financial instability, new traders joined the forex market.

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