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Day Trading And The Pandemic

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Day Trading And The Pandemic

March has been a tough month, and it feels trite to dwell on how I did trading stocks.

So I’m going to forego a wrapup of my week. If you are curious to see how I’ve been trading the market, you can still check out my daily recaps on the Warrior Trading YouTube Page.

Instead, I want to dwell a little on the situation I and many people in the U.S. now find themselves in, and how traders might consider navigating these troubled times.

Because, if you’re like me, you are cooped up at home, receiving a steady drip-feed of news coming from around the world as well as right down the street or simply trying to distract yourself from the anxiety inherent to this unfolding pandemic.

If you are not one of the people living in a state that has ordered a lockdown, you should nonetheless limit your time in large groups of people as much as possible. The more precaution you take, the shorter and less tragic this outbreak will be.

In any case, it’s difficult to focus on the stock market—or anything else that requires a high degree of attention—in this unprecedented situation. If you find yourself frustrated by the market, or simply disinterested in it, you’re not alone. I’ve heard this sentiment from dozens of people in the Warrior Trading chat room.

First and foremost, please don’t force yourself to trade. Neither your mental health nor your bottom line will benefit from that kind of torture. Instead, try and take advantage of resources like paper trading simulators.

However, if you are committed to trading the market, remain mindful of the high degree of volatility that is at play right now. Again, these are not typical market circumstances, as I’ve discussed before, and even well-vetted strategies can have unforeseen risks in this type of environment.

And if you are planning on trading and find yourself feeling a bit stir crazy at home on your trading station, maybe take a day to go outside and even trade a little. There are a lot of solid mobile apps with surprisingly sophisticated scanners and alerts available for traders of all stripes. So even if you are practicing social distancing, you can still change up your scenery without missing a trade.

Finally, and most importantly, make sure you and your loved ones remain safe. While there is uncertainty ahead, The U.S. and the world will get through this. Hopefully stronger and more compassionate as a result.

 

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