Wednesday, 27 March 2019

How End-of-Day Forex Trading Helps People with Jobs in Thailand

Working a job that they like is a dream for many people. Most people in the corporate world find all their time being consumed by a job they don't like but have to do it for sustenance. Even in the domain of Forex trading, several passionate about it find themselves lacking the time to pursue it as a career. Full-time trading requires traders to have enough capital to rely on, making it a difficult factor for people who are just getting started with their career paths.  
This is where end-of-day Forex trading comes in! What if you were told that you can work a day job and also manage to accommodate trades? Since you will be busy during the day, the charts you have access to after your work at the office will mostly be closing charts. However, this timeframe is one of the most lucrative ones! During the closing time, you will get to know the cumulative results of what went down that day and be able to make incredibly precise calls based on this information. 

Tips for Day Job Peoples to trade Forex in Thailand
Tips for Day Job Peoples to trade Forex in Thailand

With anywhere around 30-45 minutes a day, you can scan these charts and scour through for price action signals to capitalize on! 

"But won't I miss most of the signals during the daytime?"  

You are bound to miss some setups while you are busy at work, but it won't matter much. What you have to keep in mind, is that during the daytime when the markets are getting started, there is a lot of chaos and noise; nothing is clear in the beginning few hours. During the end of the day, however, you get to enjoy the aggregate results of the market. The filtered out, clearer-than-the-rest signals are at your disposal! 

Many traders have the fear of missing out since they are working during the day, but the concept of "the early bird gets the worm" isn't applicable to online share trading, so take your time.

Working a Day Job Keeps Away Much Harm:

Having a job is a huge advantage when it comes to Forex trading in Thailand. Traders who participate in the markets full-time are often caught in the waves of overtrading, post-trading stress and lack of rest! When you work on the limited timeframes end-of-day trading offers, these problems are fended against. This doesn't mean that full-time trading is completely harmful, it just needs a lot more commitment and adeptness to succeed at.
Juggling multiple objects is a challenge no doubt; a day job, a Forex trading career and life, all of these have to be balanced properly to make sure you wake up happy and go to bed happier! Get in touch with WesternFX today and learn from our experts how you can start Forex trading in Thailand with a day job in hand! Call us now to know more.

Thursday, 21 March 2019

How to Trade Cup & Handle Patterns in Forex Trading

Introduced by the analyst William O’Neill, the cup and handle pattern is among the favorite chart patterns for the Forex traders. It is understood to be relatively straightforward in determining a potential rise in the trend for a particular Forex trade (also stock). It is recommended to be employed within a strategy for pursuing Forex trading. The pattern indicates a continuation of a bullish trend after its termination and is formed as a consequence of the consolidation of that bullish movement.

Trading Cups and Handle Patterns Components
Trading Cups and Handle Patterns Components

1) The Cup & Handle Structure:

The pattern is comprised mainly of two parts - the cup and the handle. The cup is typically defined by a pullback of a particular Forex trend followed by a subsequent rise with a round candlestick bottom which essentially forms the shape. The handle, on the other hand, is observed as a downward-sloping price action which breaks out beyond the upper resistance line, indicating the continuation of the original bullish trend. A typical structure will have the breakout going above the trendline which is drawn from the left to right side of the cup.
This structure is one of the most sought after by investors in Forex trading in Thailand.

2) Timeframes:

Generally, these patterns are observed on a daily chart after strong trends have progressed for a month or more. As they mature, the chance for such patterns to occur diminishes. Even if they do occur, the likelihood for a strong continuation is minimal. The case is similar when you observe such patterns within shorter time frames.

3) Pattern Formation:

The pattern is more reliable when the cup is more “U-shaped” than V-shaped. This demonstrates a robust support at the base of the cup. The depth is supposed to retrace less than ⅓ of the advance, before the pullback. However, in volatile markets and, the depths may retrace between ⅓ and ½. It usually takes one to 6 months for this pattern to develop. Ideally, the price levels of the left side and the right side of the cup are the same or similar and correspond to a single resistance level.

As for the handle, it could be a small unorganized pullback which normally retraces less than ⅓ to ½ of the depth of the cup. It is important to note that shallower retracements lead to more bullish movements in the Forex trends. Ideally, the handle develops over one week to a month.

4) Pattern Analysis:
As soon as you notice a breakout above the handle’s upper trendline (level of the right side of the cup), you could take action and pursue a trade. Automatic trades can be initiated via buy-on-stop orders. You could set an entry value for your price target based on the sum of the price at the breakout point and the difference between the bottom of the cup and the upward trendline. Being able to effectively analyze this pattern is a great bonus as it will serve as a useful forex trading strategy.

Denoting a pretty straightforward representation of continuing trends in, the cup and handle patterns are often coupled with other analytical tools to make informed decisions in Forex exchanges! WesternFX is known to deliver absolutely sterling services for Forex trading in Thailand. Connect with our accomplished professionals to pursue safer and more profitable Forex trading strategies! We’re only one call away!

Tuesday, 19 March 2019

Proper Capital Management Can Bring You Forex Trading Success

Money Management in Forex Markets:

Much as one would think that successful traders are gifted and follow secret techniques to win, their real secret is actually very simple - they manage their capital efficiently. Be it CFDs, stocks or Forex trading, how traders manage their investment matters a lot. Forex trading can either be done in a risky manner, involving multiple huge investments and tricky trades or in a more passive manner where profits are low but so are the risks.
Both approaches come with their own pros and cons, and they are just as profitable as the other, so long as you know how to implement them. The efficiency of any Forex trading strategies are ultimately governed by how it manages capital. A trader with solid money management skills can make multiple risky trades and not lose a dime, but a trader with poor capital management skills will lose heavily on the easiest of trades!

Capital Management is necessary to bring Forex Trading Success
Tips to Bring Success in  Forex Trading

Having A Healthy Risk-Reward Ratio: 

As an adept Forex trader, you ought to understand the relation between risks and rewards. Typically, high-risk trades bring in rewards just as big, but an underlying factor that often goes ignored is the potential for the loss it carries. Risky trades can go both ways, for and against you; with wise capital management and an affordable risk-reward ratio to work with, you can make good profits while not having to lose huge sums of money.

Losses are Inevitable:

Keep one thing in mind, losses can't be avoided while Forex trading in Thailand; you can only take steps to reduce their magnitude and impact. And when you want to make big profits, big risks will have to be taken! The general market standard for risking is that no more than 4-5% of your capital should be risked. These numbers are a result of rigorous calculations and years of experience! When you take measured risks, you are essentially putting yourself in a spot where losses, even if they incur, will be affordable, and the profit potential will be high enough to make the risk worthwhile.

Scaling in The Long-Term:

As your capital slowly increments and your experience grows, you can gradually start increasing the risk threshold and take part in more volatile trades, provided you are equipped as required. So once you know your way around Forex trading markets, you can scale accordingly. Long-term scaling should be done meticulously; even with thousands of dollars as capital, you will have to ensure it doesn't get burnt out over one bad trade! So make sure when you do scale, you scale with the necessary precautions taken and you are equipped with enough knowledge to do so.
Get started with Forex trading in Thailand on a safe, secure and profitable note! When you master the art of money management, success will come by swiftly. Join the ranks of Thailand's greatest Forex professionals today, partner up with WesternFX and learn how to manage your capital like a pro! With our undivided assistance, you will be able to learn, earn and see massive trading success in today's markets. Call us now to get started!

Sunday, 17 March 2019

Finding the Successful Forex Trading Systems in 2019

Achieving Forex trading success is by no means as easy as the professionals out there make it seem. From devising cutting-edge strategies to performing arduous in-depth market research, a Forex trader has to do a lot before the smallest of profits can be seen. One very crucial aspect of foreign exchange is the trading strategy used. Its efficiency is highly critical to realize profits! Only when working with a well-rounded Forex trading strategy will you be able to land winning trades.
There are many factors you will have to consider while drafting a strategy or implementing one that already exists. A trading plan can't be followed with only profiting as the outcome; making a profit is the end goal for everyone, but aspects like timeframe, viability and risk-impact need to be thought of to make sure the strategy followed is fulfilling on all ends. 

Here are 4 factors you should keep in mind while selecting a Forex trading strategy:
Tips to Find the Successful Forex Trading Systems
Tips to Find the Successful Forex Trading Systems

1) Trading Mindset: Every trader has a different mindset. Some like taking part in strenuous and fast-paced trades some want to relax and place a comfortable month-long deal. Depending on this mindset of yours, the strategy that goes along will vary as well. Find out your trading persona! Strategies like scalping and day trading are short-term but very quick, and approaches like swing trading and position trading will take anywhere between a few weeks to months; pick the one that you prefer most.
2) Viability: The Forex trading strategy you implement has to be viable, and to measure this you will have to consider aspects like current chart movements, global economy, currency viability etc. and implement your technique accordingly.
3) Risk Affordability: Can you afford to take big risks? If you can, a risky strategy might work out! But if you can't, you'll only end up losing money. Forex trading in Thailand comes with a number of risk factors and you ought to keep them in mind before implementing a strategy.
4) Comfort: Finally, how comfortable are you with your strategy? Don't follow a technique solely because it is profitable! Down the line, it will only lead to disinterest. Use a trading strategy that you like and are comfortable with. 
You will need some of the best Forex trading strategies to serve as a backbone to your trades; if you want to see consistent profits while Forex trading in Thailand. Fret not, our expert Forex brokers at WesternFX have you covered! We understand the nuances of foreign exchange like none other, and we will help you devise and work with world-class trading approaches, guaranteed to bring in results! Call us today to know more.

Wednesday, 6 March 2019

Fundamental Analysis in Forex Trading & The Importance Behind It

Foreign exchange is an analysis-intensive field, with identifying trends and patterns playing a huge role in the success of a trade. Forex traders carry out two types of analysis mainly - technical and fundamental. The former is an approach that allows you to study trend changes, market behavior and speculate the potential future trends. This type of analysis is done predominantly by employing tools and technical indicators. Fundamental analysis, on the other hand, is the study of political, social and economic factors that affect the Forex trading markets and spark changes in price values.
Fundamental Analysis of Forex Trading
Importance of Fundamental Analysis in Forex Trading

Being a field having a trading value of over $6 trillion, traders need to ensure their Forex trading strategy is as meticulous as it gets. This is why performing fundamental analysis is important. The general social, economic and political factors around the world have a huge impact on the markets and affect the currency values drastically. To make sure you aren't caught off-guard by the sudden transitions foreign exchange markets make, fundamental analysis is crucial.
As you go on to equip yourself with the economic, social and political information revolving around a currency pair, your chances at acing trades keeps improving! The reason behind performing fundamental analysis is very simple - to keep market volatilities from impacting you. With the necessary data in your hands, you can steer clear of the risky hurdles, draft solid Forex trading strategies and aim straight towards profits. 

Keep yourself aware than fundamental or technical analysis don't guarantee that you will win all trades! They are merely analytical measures taken to better your chances of winning at Forex trading.
Foreign exchange markets see most of the volatility because of socio-economic and political changes. When there are political disputes, fights between states or countries and a general sense of havoc is prevailing, the economy of said countries takes a beating. This results in the supply/demand chain getting affected, leading to currency value depreciation. As a sharp Forex trader, it is important that you are constantly abreast of the latest developments seen in a country, on political, social and economic grounds.
While Forex trading in Thailand, many traders fail to see consistent results due to their approach lacking the analytical segments! When any field has external factors influencing it, you have to be aware of them! Fundamental analysis doesn't give you 100% foresight or hands predictions but makes you better equipped to speculate the next immediate happening and catch profitable trends efficiently.
Want to gain a deeper understanding of Forex trading? Sign up with WesternFX today and perfect Forex trading in Thailand with our expert guidance! We will equip you with the best of technical resources and all the knowledge needed to see successful trades. Join with us now and take to the skies!

Sunday, 3 March 2019

How to become a Successful Trader in Forex Trading 2019

Bored of your 9-5 job? Forex trading can be the next big thing for you! A career path chosen by thousands of people around the world, being a Forex trader puts you in an environment of potentially limitless success. The lucrative nature of currency markets does an excellent job at luring in a huge number of traders by the day, but little do they know that winning at the foreign exchange is easier said than done!
Studies show that Forex traders have the hardest time getting started because the markets are just too volatile and thriving on these grounds is no easy ordeal for them. To grow as a currency trader, you will have to follow adept practices and be empowered by market knowledge.
Technicalities aside, here are 6 tips to help make you into a profitable trader:
Tips to become Successful Forex Trader in Thailand
Tips to Become Successful at Forex Trading

1) Study the Markets: Research is an essential element if you are looking to achieve long-term success while Forex trading in Thailand. The reasons market research is so stressed upon by the professionals is because these grounds are bound to change one way or the other, and as a Forex trader, you have to be prepared for the abrupt movements! With ample research carried out, you will be in a better position to study trends and make calls on the same accordingly. 

Many Forex players, powered by enthusiasm and uncontrollable zest are swift to enter foreign exchange, but their unpreparedness leads to tumbling losses in the end.
2) Practice on Demo Accounts: Forex demo accounts are provided for a reason, the reason being - to practice your approach on a safe platform and not lose in a real-time trade! Despite of this provision, several traders choose to play out their techniques directly in a real-time trade without the slightest of ideas as to how the results could be. While trading currencies, you have to always carry the thought that it is important to have an idea of the potential outcomes of your approach. You don't have to hit the bull's eye with it; just a mild speculation would also work! 

And with a demo trading platform to work on, you can see how your trades could turn out, and if your trading strategy practiced is efficient enough.
3) Take Measured Risks: Not risking isn't the right way to approach Forex trading. Some risks need to be taken in order to see good profits. When you follow a balanced approach loaded with the right level of risk, you can put yourself in a position where the losses are minimal but the profits come multiplied. Playing it too safe isn't bad, but the profits you could make with a slightly daring approach are far more!
4) Don't Blindly Invest: Trading on a volatile ground like Forex trading in Thailand can get daunting on many occasions, which is why it is best that you know where you're going. Investing money always has to be done with a certain level of safety. Many Forex traders who start off with a hefty amount of capital tend to blindly invest their money, without a bit of strategizing and studying trends. Doing this is incredibly rash and will in no way bring in the outcomes you're expecting!
5) Keep Away From Emotional Trading: Losses happen and bad trades are natural - getting emotional over these occurrences will only further increase the negative impacts. It is definitely natural to get worked up over trades when some money is lost and get frustrated over the markets not moving according to plans. However, this pent up frustration can't be taken out on trades again! When you invest emotionally while Forex trading in Thailand, you end up avoiding sensible moves and take rash moves driven solely by the need to win back the lost money. 

Let the losses come and go as they do, focus harder on improving your approach.
6) Strategize Rigorously: Spend a good chunk of your time strategizing and planning for what lies ahead. Forex is a huge maze, and as an adept Forex trader, you will have to know your way around each corner. Strategizing gives you the freedom to write your own conclusions. Practice your approach time and time again, till it is refined enough to be implemented in a real-time trade! When you are backed by a strong Forex trading strategy, the chances of winning shoot up phenomenally!
There you have it, 6 easy-to-follow and incredibly useful tips to get started with Forex trading in Thailand! While difficult indeed, succeeding as a Forex trader is in no way impossible. A planned-out approach will take you to the far-off point of success you're aiming to reach. Back your trades with powerful strategies and work on the latest of trading platforms - call WesternFX today! Assisted by our trading veterans, you will find the Forex learning curve easy and will climb to the top in no time.