Pros and Cons of COVID-19 in economy

Ugly size of COVID-19 in economy

As the coronavirus spreads around the world, with more than 10,000 confirmed cases every day, almost every sector of society is in panic.

Households are one example of this, and toilet paper is the most “important” commodity these days! Of course, there are times when the Supermarket is empty.

The phrase “wash your hands often” makes hand sanitizer a new out-of-stock product.

With more restrictions in place and lockdowns in parts of the world, people are spending more time on the internet.

As social media becomes a source of up-to-date information, many inaccuracies also spread.

Such false news can cause havoc. The Responsibility Workshop has already begun.

Countries, governments, presidents… even good citizens are accusing them of getting views, followers, and popularity.

Bad size of COVID-19 in economy

China has succeeded in curbing the spread of the coronavirus in nearly two months, but unfortunately, it has received little media attention or recognition.

What have you learned from China so far? What action has China taken? Did you ask the Chinese side? The positive news is not very popular! Korea is following China’s precedent.

The number of new cases is decreasing! So there is a light of hope at the end of the tunnel and you just have to go in the right direction.

Good side of COVID-19 in economy

The market has crashed, airlines are having their worst time, oil prices have plummeted (down to $20 a barrel), and gold is said to have fallen more than $200 a troy ounce.

All of these factors represent trading opportunities when trading in financial markets. A bull market is a buy (long) opportunity, and a bear market is a sell (short) opportunity.

The most important thing for a trader is to judge the right direction and ride the trend. Stop loss is a must.

Anyone who denies the importance of stop-losses will experience many dreadful situations. Now is not the time to be stubborn.

Rather, it’s time to look closely at the charts and look for new trends in the early stages.

Conclusion

It goes without saying that precautions are important in this serious crisis.

Wash your hands. Stay home if needed, get information from reliable sources, and don’t be swayed by crowd/group psychology.

On the one hand, look for emerging trend signals on the chart.

Volatility provides opportunities to trade, but when you panic, there are no opportunities.

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