7 tips to trade in the corona marketThe world has gone crazy. How often do we all speak about the same thing over and over again? That’s right, not that often. The most important topic at the moment for the whole world in the event that will go down in the history of all mankind. Now is the time when global movements and changes are taking place, of course in such cases one cannot do without losses in any of the spheres of activity. But the world is not divided into good and bad only. And in this case, too, there are great prospects. Especially all these changes relate to financial markets. 

The trading is currently taking place in a very lively atmosphere. All investors have focused their attention on market movements. How can we possibly navigate markets in the present situation?

Well, here are 7 steps you can take to deal with the present situation:

1. Do not panic
2. Watch you stop losses and take profits
3. When in session do not take an eye off the chart
4. Take note of everything
5. Pull out as soon as you heard the bad news
6. Try to escape bad and virus-related news in your spare time
7. No matter what, do not fall into desperation

1. Do not panic
This is the first rule of operating in a crisis situation. It is super popular in the times like we are facing today. And especially in the world of trading. Remember: when you are panicking you are prone to making mistakes. A lot of them. And in trading, they are literally going to cost you a pretty penny. So, stay safe and calm. If you feel an anxiety attack coming in, stop whatever you are doing and relax. Your mental health is more important than any trade you might be in.

2. Watch you stop losses and take profits
In the time when the markets can fall and surge like nobody else’s business, it is important to be very careful with your stop losses and take profits. Of course, we try being careful with them at all times, but there are a few traders who like to feel the rush and do not set these two parameters into their trades at all. Well, I would really not advise you to ignore them right now.

3. When in session do not take an eye off the chart
When you have set everything up, you are calm and confident, make sure that nothing is going to distract you from the chart. You cannot afford to take your eyes off your trade for a second. Remember those jumps and falls we have already talked about? Well, they can come at any time. this makes them even more promising for changing your balance in both directions. So be sure to study all of the trading patterns and watch out for them. In general, be more attentive.

4. Take note of everything
Trading ledgers. Their importance is hard to underestimate and right now it is not the time to forget about them. Note everything and study your notes every day. Nothing should slip your attention or your mind. These notes might go a long way for you.

5. Pull out as soon as you heard the bad news
Have you read the bad news, but your trade is still going well? Be aware and take into account increased risks! Markets are too much on edge at the moment. There is no way that bad news, especially when they concern USD, EUR, GBP or oil, is not going to be reflected in the charts. So as soon as you see disturbing signals, take care of the safety for your assets.

6. Try to escape bad and virus-related news in your spare time
After the day is done and you have counted all of your earnings, the time for the tune-off has come. Log out of the social networks, stop checking the news and just relax. Watch a movie, take a bath and just do whatever you like. You have to reduce the level of stress and this is the only way you are going to be able to do that.

7. No matter what, do not fall into desperation
Have you lost several trades in a row? Made several bad bids? Didn’t guess the direction of the chart? Well, that has happened to everyone. Even Warren Buffet is making mistakes. All you need to remember is to stay calm and do not fall into desperation. Times of high volatility can be a source of loss for someone, but it is also a rare opportunity for multiple earnings.

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