Forex trading post COVID19
Coronavirus pandemic that caused countries lockdowns and affected world economies shifting markets to the direction or another since representing the economic situation.
Despite a rapid crash on industries, fall in demand for some commodities and services, the global pandemic affects numerous businesses to suffer together with Zimbabwean residents that struggle to make their living. The shift in everyday life now causes thousand of desperate people to search for new opportunities and actually internet and global connectivity attract more and more to trading and online activities.
What is Coronavirus?
Coronavirus or COVID-19 officially declared as a world pandemic since March 20 caused countries authorities to lockdown businesses and activities, apply strict quarantine measures in order to stop its spread. While the people remain out of work, the economic and financial figures, of courses, shifting as well which letting Stocks, Forex and Markets rapid shifts as well.
Forex Trading COVID19
As from the beginning of COVID, Forex volatility increased dramatically naturally representing fears, desperate situations and strict lockdowns together with a stop of businesses worldwide.
Where we are now and as Markets already saw huge fall in Currencies, Commodities, Stocks and actually all asset classes, now as the situation improves markets seeing recoveries as well. The countries around the world easing restrictions and slowly getting its economies to normal operation by taking steps to reanimate economies and normal living.
Yet, the lasting effect of strict falls is hard to predict while some industries may take years to get into its normal figures seen before COVID19. All in all, for trading it means bigger fluctuation or high volatility as figures and economy undergo uncertain time. Actually, higher volatility always brings trading opportunities, since traders may benefit from any direction market move. Yet, always remember to use good risk control and measures, rapid changes bringing huge losses as well.
Trading post COVID19 also requires a very careful approach to trading and a closer look at developments in particular country if you trade Currencies or trading Stocks. Also, you need to pay attention to the bigger picture as a whole as well. Naturally, all worldwide businesses dancing with the Oil demand and prices, along with other measure points around the market movers and general situation.
So now it is important as never to be extremely cautious and attentive to the developments of post COVID19 recoveries, the decisions you personally make and of course see the effect for the long-awaited COVID19 vaccine may have on Markets.
9 Reason why Zimbabwean should start trading
At the stage and the point that the Zimbabwe economy is not among the strongest generally, the pandemic reaction on it indeed placing you and many of Zimbabweans at risk of survival. Eventually, trading can be a good answer for many strives and your future itself, and here there are main 9 reasons why every Zimbabwean should start a Forex Trading side hustle.
- The first thing to name is great flexibility to trade Forex. It is available despite your location, either you’re from Zimbabwe or somewhere else, just with an Internet connection you can trade any global Currency Pairs, Stocks, Indices, Commodities asset.
- Forex is suitable for beginners. It is not a matter of how old you are and what carrier you had before, there is always an opportunity to get good knowledge and learn to trade.
- There is always a good trend to trade. Markets always move and the great thing you can benefit from any of its situation, either selling when the market falls or buying when it grows.
- You don’t need big amount on money to start trading. There are numerous broker that offers account with very small amount, there are even one that allow you to start with 1$ even. So trading is available for all Zimbabweans despite the capital you have.
- Numerous famous world regulated brokers’ offering trading account for Zimbabweans. It is great that now you can open account with a reputable firm and good regulation, which make your trading safer and offering numerous opportunities. However, beware of scams, always choose only among well established firms be curious and do your research before you sign in.
- You decide almost everything in trading. It is all in your hands to decide what is the invested amount, how much time to spend, what instrument to trade and that is despite strategy and thousands of instruments available for trading.
- You choose to make trading your full-time job or combine it with something else.
- You can become a good trader and make your living from trading even if you know nothing about it now. It is a fact, every Zimbabwean having an opportunity to profit, be safe and gain financial independence.
- By the follow of good education, discipline and strategy you will learn not only a new profession but will understand how the world economy works. You can become a financial professional which is good status and respected profession.
Actually, there are many more reason why you should be interested in trading, as with good approach it tends to change your life. However, it is important to start trading correctly and not to be allured by attractive opportunity turned to be a scam. Always choose a reliable partner, broker to trade with and of course never skip good learning and practice of your strategies first.
Be aware of risks involved in trading as well, as being highly risky activity it can bring you loses as well, especially now with post COVID19 high volatility and unpredictable moves markets make due to uncertain conditions.