Sometimes it feels as if we are running two worlds in parallel.
Experienced traders have seen their profits hit record highs during the
pandemic. Meanwhile, returns of less experienced Forex traders have
plunged dramatically. Experience seems to be the most valuable factor
determining the profits of a Forex trade during the pandemic period.To
get more news about WikiFX, you can visit wikifx official website.
It is a longstanding feature of a rigged system: less-experienced
traders suffer losses in a crisis, while experienced Forex traders make
profits from it. It has been highlighted after the financial crisis and
is of practical significance with the spread of coronavirus. And yet the
existence of inequality in the Forex market creates barriers among
traders. It‘s not true that traders don’t support the idea of using a
longer time to improve their trading skills. On the other hand, they
overwhelmingly support it, but many feel depressed and confused by the
hard-to-ease gap in knowledge as artificial intelligence overpowers
humans in trading opinion.
It is not comfortable when new
recruitment sits with the veteran, but it only happens in understanding
the inequality in trading experience and how traders view the
applications of trade strategies in the current Forex market. The
automated and algorithmic trading software sellers have a role to play
in manipulating public awareness. These sellers focus on the dominance
of experienced traders in the Forex market and magnify the time cost of
acquiring positive outcomes. They also exaggerate products by offering
solutions to shorten the experience gap. And the pandemic enhances the
awareness that the robotic trading software has built an alternative and
sole way to replace traditional trading systems. Rather than applying
the software, professional traders with platforms switch the software
off during the pandemic period. So far these software has framed less
stable profitability in the pandemic economy but led to great losses and
uncertainty.
Facing with the upsetting performance of auto trading, the trading
experience is the last trump card we hold. Trading experience is so
vital because this is the process of establishing the trading system. An
effective establishment of the trading system involves time testing and
profit analyzing. The time span is selected to be the last six years
and will be updated from time to time. The individual trading system has
to incorporate personal trading patterns and expectations. So the
successful trading system varies from person to person. The Forex market
has always preferred sustainability to profitability. It is proved that
the greatest challenge the beginner has is to shorten the gap in time
testing. With the limitation in human learning patterns and the
intensity of market movements, surpassing a more experienced trader in
trading system efficiency is unlikely to happen.
The pandemic allows
beginners to compete with experienced traders in the Forex if they
adjust their information diagnosis. During the pandemic, traditional
indicators such as the labor market performance and central bank
decisions on interest rates have limited influence on the Forex market.
So studying the Forex markets history movements, along with the
revealing of the pandemic-related news, provides a shortcut to ease the
experience gap between traders. If traders doing GBP currency pairs
apply trading systems that focus on the pandemic, they are suggested to
adjust their trading strategies by focusing on the performance after the
pandemic and to adjust the time frame and trading volume to increase
overall profits and reduce the risk exposure. As the Coronavirus has
shed some light on the Forex market. It is no longer a matter of
experience and effectiveness, but the ability of traders to adapt.
