6 Important Points to Learn from Forex Trading Professionals

Novice Forex traders fail to see beyond what's ahead of them. Foresight can be of great help in Forex trading! With several underlying elements in the game, as a newbie, it is difficult to wrap one's head around the various nuances of currency exchange. However, with some professional insight, mastering Forex will be no arduous task.
 

Here are 6 points, from a professional trader's perspective, to keep in mind while trading currencies:
 

Points to Learn from Experienced Forex Traders in the Market

1) Avoid Over-Defensiveness: Saving capital is crucial and it will govern the outcomes of the trades you make for the rest of your life. However, the line between risking healthily and risking blindly is very fine. Avoid getting too defensive, but don't throw yourself off-track so much that you lose big.
 

2) Study Charts in a Limit: Monitoring charts for the most minute of movements will be the most taxing and useless tasks in Forex trading. For every unnecessary second you spend rethinking your decisions, a profitable trend is missed. Study, but only as needed!
 

3) Don't Let Profits Or Losses Get to You: Profits will lead to overconfidence, which will lead to overtrading. Losses will make you want to earn back the lost money, leading to overtrading once again. Don't let profits; losses or breakevens get to you. Stick to a plan and trade your approach methodically and with the discipline to have a victorious career as a Forex trader.
 

4) Implement Only the Necessary: With a plethora of indicators and Forex trading strategies available, it often gets confusing as to which one will work best! Don't go on placing 10 indicators on your charts, or jumping strategies. Only implement that which you deem necessary.
 

5) Discipline Yourself Strictly: Temptations are natural, especially when big money is involved. Learn to draw the line. For attaining long-term success Forex trading in Thailand, the first requirement is discipline. Curb your emotions and desires, practice your approach and improve on it constantly, and follow a sharp routine.
 

6) Spend Ample Time Living as You Do Trading: Getting lost in trades is common, and this leads to severe fatigue later on. This is why you have to live just as you trade. Take timely breaks, spend time with your family, and ensure the stress from trades isn't carried outside!
 

When you spend a long time Forex trading in Thailand, you realize the markets are rough and results depend on multiple factors. To succeed in this competitive field today is no joke. Without a good broker to assist you, losses will pile up. Call WesternFX today, and avail our best-in-class Forex solutions! Your drive to win will be boosted several times by our experts, and we will ensure you see nothing but raining success!

How to Make the Most out of Day Trading in Forex Trading 2019

Day trading is undoubtedly one of the best Forex trading strategies, and several studies are a testimony to this fact. On almost every list of the best currency exchange plans, you will find day trading listed! While the strategy in itself is incredibly effective, implementing it is no cakewalk. Forex trading stands tall as one of the most difficult trading markets today with scarily high levels of volatility. To emerge on top as a successful day trader requires that you hone your approach and understand the basics!
 

Here are 4 crucial tips to know when adopting the day trading approach:
 

Day Trading Forex Trading Strategy in 2019

1) Importance of Day Trading: Day trading can be a powerful strategy when understood and implemented rightly. Though it sounds as though a day isn't enough time to trade, on the grounds you will realize every second is worth several dollars! This approach is one that requires meticulous analysis skills as traders will have to perform ample fundamental and technical analysis to excel at it.
 

2) Timeframes to Work On: Even though it is a small-scale Forex trading strategies in itself, as a day trader you can trade on minute-marks or through several hours. While smaller trades that last a few minutes don't bring much profit, they can be compounded to yield well. Similarly, long-scale hourly methods work just as fine, but with a relatively less dynamic market to work on.
 

3) Leveraging to Perfection: Since day trading works on short timeframes, leveraging is an amazing way of multiplying your profits. Be wary of the fact that the same leverage can also throw you into losses! Don't get too greedy, but also don't get too stingy. The perfect balance will give you the perfect results while Forex trading in Thailand.
 

4) Indicators to Employ: Simpler indicators like MACD and Bollinger Bands will work incredibly well. What truly makes a difference is how well you read them. Each trading platform comes with over 30-40 indicators. Depending on your approach, you may find various that gel well.
 

One of the most powerful Forex trading strategies, day trading is intense as is profitable. Without ample focus, even on a minute timeframe, you can face piling losses! Don't let the pitfalls get in your way, partner up with WesternFX and dominate Forex trading in Thailand! With our timely Forex trading tips, you can catch the best of trends and ride them to victory! Call us today to know more.

What You Should Avoid While Doing Futures Trading in 2019

Initially designed to provide farmers with hedging capabilities so they could keep away risks, futures trading has gone on to become one of the most valuable financial markets today. On the outset, only the lucrative nature of futures markets is seen; the risks and losses involved are only known to traders inside! Though many try their hand at it, only a few succeed. If the approach adopted isn't efficient, seeing profits will be impossible. Most mistakes made in the futures market are common, and with a little honing, they can be eliminated.
 

Here are 4 expensive mistakes most futures traders make:
 

Mistakes You Should Avoid in Futures Trading 2019

1) Jumping Strategies: The most common mistake novice futures traders make is changing trading strategies when their first-implemented plan doesn't yield as per expectations. A future trading by no means is a place to make quick riches! Market movements will take time to bend in your favor, and to find a lucrative trade point, you will have to be patient. Change plans only if it is actually ineffective, not simply if it doesn't work overnight!
 

2) Lack of Loss-Management: Once you enter the futures markets, you can witness the variety of risks it has. The sheer volatility of the markets is enough to tumble your trade. Having a loss-management measure is one of the first things every futures trader should do. Keep a stop order at points where you feel a trade might collapse and leave you in losses. This mechanism will automatically pull you out of a trade should a specific loss amount be met.
 

3) Adopting Herd Mentality: There is a fine line of difference between observing other traders and blindly following them. Herd mentality is noticed often in futures trading. Many believe that following the exact moves professionals make, will work in their favor as well. It won't! What works for one doesn't have to necessarily work for you. Even if it takes time, and even if the returns are minimal, follow your methods. This way you learn better and will eventually earn better too!
 

4) Following a Monotone Approach: To truly survive the field of futures trading in Thailand, diversification will be necessary. Currency futures, contracts futures, there are a number of fields you to diversify into. This even helps in hedging your losses! Never keep all your eggs in one basket. 
 

Mistakes made in trades will cost immensely! Trading safely should be your first priority. With time as you get a hang of futures markets, risks can be taken and bigger rewards can be made. Be it futures, shares or Forex brokers; get yourself the best of the best from WesternFX! We will deliver the most stellar quality of brokerage, equip you with the right platform, and ensure assistance is available through all your trades. Call us today and get started with Futures trading in Thailand!

Price Action Tips for Forex Trading Beginners to Trade Like a Pro

Too much analysis is just as bad as too little of it. Forex trading in Thailand is demanding when it comes to research and analysis. Capturing the right trend is important to have a consistent streak in currency exchange. This incredibly volatile market is just as unforgiving as is lucrative; capitalizing wrongly can lead to heavy losses. To thrive in the long-run and become a full-time currency trader, price action trading has to be mastered. Your charts shouldn't be clustered, and neither should it be empty. Balance is the key!
 

Here are 3 simple but incredibly effective price action tips for Forex:

 

Price Action Tips for Forex Trading Beginners

 

1) Analyze Trends: Trends are one of the governing factors in Forex markets. It is best to follow a trend and capitalize on it, rather than adopting a haphazard approach. Trends can be spotted at every cusp in currency exchange. Highest highs, highest lows, lowest highs and lowest lows - with these elements in grasp, you can expect a steady growth in your trades. Follow trends as they are birthed and as they rise, and once a trend breaks, prepare to catch the next wave.
 

2) Understand Trend Momentum: Indicators like RSI, MACD and Stochastic use trend momentum as a governing piece of information to show results. Trend momentum is nothing but its strength. Candlesticks are the perfect charting tool when it comes to fishing trends and employing Forex trading strategies. With their impeccable representation, catching a solid trend will take no time. Candlesticks can be read easily using these three points:
 

• Small wicks on a long candle indicate high momentum.

• Larger ratio of bullish to bearish candles signals bullish momentum.

• Long wicks on a small candle indicate slow or lack of momentum.

 

3) Study Rejections: Rejections almost always happen with a strong momentum. Employing these at support & resistance price barriers can work tremendously in your favor. Studying patterns like triangles, double tops and bottoms can help better the approach and refine your trading experience.
 

Indicators paired with the right Forex trading strategy make for the best trades! At WesternFX our experts are trained to provide nothing short of the best. From selecting currencies, providing Forex trading tips and an apt platform - we take care of all your trading needs! Come ace Forex trading in Thailand with our professionals by your side! Call us now, try a demo and let's get started!

Tips to Predict the Forex Trading Market Trends Ahead of Others

To achieve success in Forex trading markets, you will have to be adept in your approach. Currency markets follow trends, no matter how liquid or volatile they get. Trends can be found in almost all exchanges, and to capitalize on these is why Forex trading strategies are provided. Being able to spot the most lucrative of trends can give you the much needed upper-hand while trading currencies. 

Not only will you be able to invest in the right assets but you can also avoid bad trades.
 

Here are 4 proven ways to predict markets in Forex trading:

Tips to Predict the Forex Trading Market Trends

 

1) Performing Analysis: The first best way to study trade patterns and where the market will take you is by performing fundamental, technical and sentiment analysis on your trades. Fundamental analysis is studying past events, speculating future events and finding where a currency is headed. Technical analysis, on the other hand, analyzes currencies itself, while sentiment analysis is used to study trader mindset. With these analyses, you can easily find out where trends form, how they move, and where they end!
 

2) Perfecting the Timeframe: Forex trading in Thailand has multiple timeframes that traders can work on. Some find short-term timeframes better, while some prefer longer ones. To catch the best trends, you have to know how the various timeframes function, and how each strategy fits into them. Each approach works best on a particular timeframe. Once you have a clear understanding of this, capturing trends will come naturally!
 

3) Employing Indicators: From moving average to RSI, there are several stellar indicators you can employ that will help figure out market movements and approaching trends in Forex trading. When used rightly in accordance with your trading strategy, along with catching them, you can capitalize as well.
 

4) Gauging Trend Strength: Measuring trend momentum is very important. There is no point riding a trend that is going to fall off the next minute. This is where the importance of Forex trading strategies and indicators comes in. Only when equipped with an adept strategy can you catch on to the best of trends!
 

A Forex trading strategy is undoubtedly the governing factor in currency markets. Several traders fall off early due to the inefficiency in their approach. With a reputed broker like WesternFX by your side, you will be able to ride the most profitable of trends! Forex trading in Thailand has been quick to see growth, you can cash in on this today with our experts by your side. Call us now and let's get started!

Top 6 Secret Tips of a Successful Forex Traders in the World

While many believe Forex trading to be a field of luck, chance and randomness, it is in fact one that requires immense skill to succeed at. A testament to this is the fact that though several traders start currency exchange and enter these volatile markets rather bravely, barely 10-20% of them make it out successful in the long run. Currency trading is one of the riskiest ventures in trading, with just as much a destructive potential as its potential to yield hefty profits. The market today has grown to the point, where even Forex brokers face stifle competition.
 

Foreign exchange markets have a trading value in trillions. This is a lure enough to bring in traders and Forex brokers from near and far. Once you have entered these grounds, adeptness is a mandatory requirement! Succeeding at currency trading takes plenty of experience. There are a number of elements from strategies to currencies that traders have to get a strong grip over, in order to see consistent results!
 

Despite the difficulties accompanying Forex, there are many who bloom into talented traders, and you can too. 

Successful Forex Traders Secret Tips

 

Here are 6 secrets that professionals follow on their path to success:
 

1) Keep Your Hopes Real: There is a difference between hoping to succeed and hoping to make a million dollars on your first trade. Expectations are a destructive component that every trader carries. Too less or too much of it can have a strong negative impact. As a Forex trader, learning should be your first priority; earning comes later. Without the necessary skills and knowledge, you will get consumed by currency markets' volatility. 

Starting off, shift your focus to honing your approach and mastering your trading styles. Once a good grip has been established, profiting from trades is an imminent happening!
 

2) Know Your Risks: Risks can't be avoided while Forex trading in Thailand, they are an obvious component of every trade. The professional way of dealing with risks and drastic trades is to know your risks beforehand. Forex is a field that gives better profits with increasing risks; so if you want to make big money, big risks have to be taken! The irony, however, lies in the fact that such trades also have a high chance of yielding colossal losses. 

Calculate the losses that might happen for every move you make, and focus on minimizing them and not avoiding.
 

3) Analyze Yourself as a Trader: Trading styles vary from one trader to the other. Some players like to play it slow and implement long-term strategies that take time to yield. Others, who are into fast-paced methods, prefer short-scaled strategies like scalping or day trading. Along with Forex trading strategies, finding a good timeframe is of equal importance. A strategy is only as good as the currency used in it, and the timeframe it is implemented on! 

Get a proper understanding of your trading style, and find the perfect plan, currency and timeframe to go along with it.
 

4) Never Trade Out of Greed: With success comes money, and with money, greed. A natural emotion, getting greedy is something that not everyone can avoid; at least not initially. In Forex markets, profits will be incredibly tempting, and after your first big catch, wanting more is inevitable. However, be it greed or overconfidence, trading when emotional can be disastrous. Often times, traders indulge in deals solely to win back lost money, or out of the confidence that they made money previously!

The volatile waters of Forex won't give the same rewards twice. So trade your plan, and keep away from temptations.
 

5) Observe as You Trade: The ultimate tactic to perfecting an art is observing it. Mastering any technique or field comes in two steps - observation and implementation. Even the most proficient of traders take time to see how markets move in foreign exchange. Forex trading in Thailand is a field that sees drastic changes regularly. In markets like these, you can never truly gain complete knowledge! 

Keep practicing your methods, trade different currencies, and most importantly, observe markets, traders and how the world of Forex functions.
 

6) Maintain a Journal For Your Trades: Self-analysis is the best analysis! As a trader, you will work across varying timeframes, implement several rigorous Forex trading strategies, and as a result, you will win some trades and you will lose some. Irrespective of the outcome, maintain a note of all the trades you make. Right from the strategy put in, the currency used to the losses/profits made and how the markets moved. 

These small notes will help you increase your chances of profits and keep away from conditions that caused past losses!
 

Becoming a successful Forex trader doesn't have any complicated requirements. With discipline, patience and resilience, you can gradually climb to the top. Get yourself the best of Forex brokers to assist you, on your quest to dominate Forex trading in Thailand! Call WesternFX today! With our experts guiding you through each trade, you will soar higher than ever.

3 Global Factors that Affects any Forex Trading Price Movements

When you hear the word foreign exchange, a stock market-like environment comes to mind. However, currency exchange is done not just by Forex traders! When you take a trip abroad and choose to spend on some of the local products, you have to pay your currency for their product - which is equivalent to trading currencies, hence making it a foreign exchange. These currency prices don't always remain the same. 

 

Several global factors have a repetitive influence of them, and affect the price of various Forex pairs, which ultimately contributes to making Forex an incredibly volatile market! 

 

 Common Factors that Affects Forex Trading

 

Here are 3 factors that affect Forex prices the most:
 

1) Interest Rate: Borrowing money in the form of loans and similar elements is common today. Be it for education, housing, or any field that needs big funds, loans are the best option. Each country has a different interest rate, i.e. the rate for borrowing funds. This amount is fixed by the country's central bank. The rates have to be monitored regularly because if the interest drops too low, everyone will start borrowing in heaps! Supply and demand laws have to be obeyed at all costs to prevent economic disruption. 

 

When either supply or demand goes up while the other remains stagnant, there will be a financial catastrophe. These rates are one of the primary causes for price hikes and drops in Forex.
 

2) Inflation: Like with interest, when a country's supply and demand ratio isn't in balance, inflation or deflation is observed. Goods and services offered by a country see a drop in demand when their prices hike up. This creates a void in exports because the country can't bring in products, due to the dying demand ratio. When this export-import ratio sees imbalance, one of two things can happen; lesser exports will lead to the country having to borrow money from other nations. When an import increase but there is a lack of demand, the same happens again! 

 

With such movements, a country's currency gets devalued. While devising a strong Forex trading strategy, these factors have to be kept in mind.
 

3) National Politics: The government has a huge role to play in Forex. With thousands of industries under its control, political conditions can have adverse effects on the currency markets. Changing governments, civil wars, or any riots can lead to a rapid fall in currencies. A country's currency is directly tied to its economy. With poor political conditions rises a poor economy. Lack of resources can lead to poor exports on the outside, and a dropping demand rate on the inside. 

 

This will ultimately cause the currency value to plummet, leaving the country in an inept state.
 

Foreign exchange is an incredibly vast field, with the room for success huge! The tricky parts however rise, when these above mentioned factors start influencing the markets and creating troubling waves of volatility. With the aid of an adept broker, you can start trading currencies like a pro, and leave home successful! Call WesternFX today and avail our world-class brokerage. With our proven Forex trading strategies, you will dominate Forex trading in Thailand!

Top Reasons Why Most of the Forex Traders Fails in Trading?

On the outside, Forex trading feels like an easily conquerable field. Over multiple failed trades, and after being subjected to market volatilities, you start realizing the difficulties currency exchange comes with. Year after year, thousands of traders start currency trading, only to meet with exceeding losses within their first few trades. The reason for barely 5-10% of traders seeing success is because several novices are driven by the desire to profit big, and on this wild-goose chase, they end up losing more than what they started with.

The proper approach to Forex trading is in mentality, not in strategy. 

Reasons Why Most of the Forex Traders Fails

No matter how good a Forex trading strategies you devise, without the right mindset, success just won't come. Losing is an inevitable process, but winning isn't. Only when you have a strong approach can you expect to make a consistent winning. 

Here are 2 steps to take as a trader, to see success. 
 

1) Chase Success, Not Money: Being a successful Forex trader doesn't mean making thousands of dollars each day, it is minimizing the number of losses, and having an exponential success rate. Novices often make the mistake of putting money as their first priority, when in reality, it should be to prevent losses and gradually increase returns. Running behind money almost always leads to over-trading, which is a recipe for disaster. 

Remove the misconception that money defines success when it comes to Forex trading because it doesn't! A market as volatile as currency exchange might let you pile up a good winning, but it can wipe out your account all the more effortlessly.
 

2) Keep A Clear Mind: Forex trading can be mentally taxing on one too many days to keep track of. With this stress already occupying your mind, having other trivial worries will only pull you back. Being overly concerned with how much money you will make, what are the prospects of losses will your strategy work out, and what not is going to take you away from achieving trading success. Enter the markets with a clear mind, keep your emotions out, and focus only on making the most out of every exchange.
 

A majority of the Forex traders today find them confused and dazed when it comes to adopting a trading approach. With the help of an established broker like WesternFX, you can perfect the art in no time! Call us today, and avail our impeccable brokerage. Every step of the way, we will provide unparalleled assistance, and ensure you dominate Forex trading in Thailand.

4 Habits of a Successful Forex Traders – How to Develop It?

From the outside, becoming a successful Forex trader seems like a cakewalk. The truth, however, is very much different. Stifle competition governs the world of foreign exchange, and success requires traders to have a stellar approach, accompanied by an arsenal of stern habits. Discipline is an obvious requirement to be successful, not just in trading, but in any field. Even with strong strategies, several traders fail to win, solely due to a bad approach. 

If you want to embark on a success-filled Forex journey, practice these simple habits:

Habits of a Successful Forex Traders

 

1) Don't Let Money Drive You: Agreed that people enter trade markets to make a good earning; however, there is a fine line that segregates passion for winning, from greed. When you house a burning desire to become a successful trader, you make patient and wise decisions; on the other hand, when you are driven by the need to make money constantly, the downfall is imminent.
 

2) You Are Your First Investment: Be it getting ample rest, or eating filling meals, there are investments you have to make in yourself. Fuelled by the desire to succeed, traders forget to dedicate time for their welfare. Forex can be an immensely tiring routine, and not allocating time for rest and growth can lead to mental and physical stagnation. Take time off of trades and cater to your needs!
 

3) Never Stop Learning: The pivotal point of existence, knowledge is what acts as the hinge for several aspects of life; trading is no different. Forex is a field dominated by research and analysis, and it is ever-evolving. To evolve along with it, constant research is mandatory. Different economic and political crises are conceived each day, and the understanding of these forces is what allows you to have a strong grip over Forex movements. A good way to evolve as a trader, and strategize smarter is by practicing Forex demo account.
 

4) Take Notes: A simple, yet immensely effective thing to do is keep track of your progress physically. In Forex, you will participate in several trades, make several calls and witness several outcomes. Each of these is a consequence of the former. Keep notes of the growth you make and the way you trade. Reflecting on this will help immeasurably in the long run.
 

Pair these tips with the right brokerage, and victory is assured! A stellar broker by your side can help turn the worst trade into the best - call WesternFX and take your trades to the next level. Forex trading in Thailand is mighty lucrative today, and with our assistance, you can dominate the grounds!

4 Essential Tips to Focus While Trading Forex in Thailand

Trading currencies is a taxing ordeal for FX players. From erratic market movements to price hikes and drops, there are several factors that tire a Forex trader! However, off all these challenges, the most arduous is staying focused. When bad trades manage to make a home, holding on becomes even more burdensome. Often times, emotions creep inside trades, and the decisions made thereon become irrational, leading to unfavorable outcomes.
 

Follow these 4 amazing steps to stay focused and trade better: 

Experts Tips for Thailand Forex Traders

1) Take A Break: The simplest, and yet the most effective means of becoming a better trader, is by taking breaks between trades. Going all-in has seldom birthed profitable outcomes in Forex. Trades can be incredibly strenuous, and losing trades can be worse. Take a break; go out, get a coffee, watch a movie, do anything to distract yourself from the numbers and markets for a while!
 

2) Don't Spend Sleepless Nights Trading: Being a 24 hour market makes Forex a vastly lucrative field for traders. However, many players tend to invest all their time, spending hours together trying to catch the perfect trend to ride. Take ample rest; working yourself day and night will only worsen your performance in trades!
 

3) Indulge In Other Activities: Filling your head with chart movements and price drops will become mentally demanding in the long run. Forex, or any other genre of trade for that matter, can pile up in your head and become an unbearable burden in no time. To keep away these troubles, take part in other activities or hobbies. Just like a forex trading strategy, work out, go for movies, spend time with friends and family, these activities will work tremendously in reducing the stress you carry!
 

4) Avoid Impulsive Trading: Trading out of compulsion, or impulse, will never yield well. Several traders participate solely out of the need to make up for losses, or out of the confidence, to make more money. Emotional trading isn't the solution to problems! Learn to take losses, and don't let confidence take the wheel. An adept trader knows where to stop and to draw the line.
 

Equip yourself with a good Forex trading strategy, and once you're done with a trade, leave everything behind! Taking your work stress home or your home stress to work is a bad approach to trades. Sign up with the world-class broker - WesternFX, and we'll help achieve the perfect balance between trading and living! Call us today to get started with Forex trading in Thailand.

Beginners of Forex Trading in Thailand Should Avoid These 6 Mistakes

A perfect track record is a dream for many in Forex, but given the risks involved, it is impossible to attain. There will be good trades, there will be bad trades, and on days every deal will end in a breakeven. Unpredictability is in the nature of trading markets! While it is not possible to have eternally successful trades, having a consistent percentage of wins is definitely not a far-fetched idea. As a beginner, traders are seldom able to differentiate between the right and wrong steps. Pair this up with hasty decision-making, and there you have the recipe for a novice trader's downfall!
 

Though making profitable trades seems difficult, and is the same, the concept is rather easy to grasp. While most traders devise plans that maximize their gains, the adept players don't chase profits; instead, their focus remains solely on minimizing any potential losses. This is one of the easiest steps to implement, to get better at Forex trading!
 

The path to achieving Forex trading success isn't an easy one.

However, when you know what to do, and what not to, the process becomes much simpler. 

Here are 6 Mistakes to Avoid in Forex Trading: 

 

Avoid These Mistakes to Gain More in Forex Trading

1) Making Erratic Decisions: Forex isn't a field of luck, it is far from it! Foreign exchange is a domain that is governed by analysis and research. Winning or losing a trade relies heavily on how much you know about the markets and the currencies. With precision being of paramount importance, irrational decisions have no room. The first mistake every beginner makes is calling rash shots. Luck might help out initially, and carry you to wins; but down the line, the analysis will be the governing factor for all your trades! With a good Forex demo platform, you can learn how to strategize in no time!
 

2) Letting Emotions Control Trades: Happiness is natural when you are winning, and so is sadness when you are losing. Inexperienced traders let emotions maneuver their trade’s one too many times! Losses are an inevitable part of every trade, and can in no way be avoided. In order to win back lost profits, make up for a bad trade, or solely go on a trading spree out of happiness, Forex players begin overinvesting! Overtrading is the worst enemy of every trader; when you invest out of greed or fear, it is bound to go down in flames.
 

3) Poor Placement, An Absence Of Stop-Loss: The biggest mistake traders make in Forex, surprisingly, by both new and experienced ones! Trading without a definite stop order is as good as giving up a trade. Stop-losses are given to help traders keep away from losses, bad trades, and stay braced in the event of one. They are necessary to survive in Forex, but not all implement it properly. Placing a stop order poorly or not placing one at all, will lead you to incur tremendous losses when the trade goes awry! Practice stop-loss placement on Forex demo platforms before going live!
 

4) Careless Leveraging: Leverages is the turning point of each trade, with most such trades resulting in losses. Since there are several trades in Forex that house a huge value, traders need a substantial amount of capital to do so. In order to boost trades, Forex brokers provide players with leverage, which is nothing but borrowed money. While these increase your chances of profits, they do the same with losses. When you lose trades that are leveraged, you lose your trading capital and the borrowed money! This puts you in an incredibly bad spot.
 

5) Not Taking Losses: If there were formulas that helped traders evade losses every time, every trader today would be a millionaire. However, losses are a constant element of Forex and even the best FX players face them eventually! An adept trader will cut losses quickly, instead of waiting for a transition into profits. This is where market knowledge helps immensely; in being able to govern movements and predict trade outcomes. Learn to take losses and move on.
 

6) Going Against Market Trends: Trends define the world of trading. Without the ups and downs in the market, there is no life! Trends make trading a good bit easier; by catching on to trends, it becomes simpler speculating the market movements, and potential outcomes. However, doing the opposite of this can become highly unyielding.
 

Though Forex trading looks like an arduous climb, with enough research it will birth healthy and consistent profits. Starting off, it is natural to make mistakes, and lose trades; but as long as you don't lose heart, all is well! Backed by an experienced Forex broker like WesternFX, your chances of winning trades will sky-rocket. Call us today and avail our superior FX solutions. With our unparalleled brokerage guiding you, you will dominate Forex trading in Thailand.

Tips to Become A Successful Trader Along with Your 9 to 5 Job!

The luxury of leaving everything behind and diving headlong into Forex trading is one which few have. For most people, trading is a side job. Until they have years of experience and are adept enough to make money on a consistent note, relying solely on trading for a living is a bad idea. This is why a good deal of players in foreign exchange and other markets, work a 9-5 job in the day, and then enter the world of trading.

 
Balancing work, hobbies, life and trades can be taxing, but certainly not undoable. Typically traders who follow such tight schedules have no clue as to how to start, what to do and where to end. Working a 9-5 job and then trading means, you have lesser time to work with. Without pre-planning strategies and picking proper charts, winning Forex is out of the question. Similarly, working on odd timeframes can become physically straining, since on a lot of days you will be carrying your work tension.

 

Tips to Balance Your Forex Trading along with 9 to 5 Job

 

Contrary to what you think, success presents herself to those who work hard, and work smart! Even with a day job, you can make a good winning in Forex; here are 5 amazing ways to do it:
 

1) Pick The Best Trading Style: Foreign exchange is flexible, just as it is lucrative. As a currency trader, you can choose from a variety of strategies, timeframes and currency pairs; and align them up to suit your interests. To grow into a successful Forex player, construct an environment that is best-suited for you. Be it day trading, position, swing trading or scalping, pick a trading style that it almost seems like it was tailor-made for your ambitions! Remember that you will have to employ strong levels of focus, after 7-8 hours of work; choose methods that won't drain you mentally or physically. With the trading styles established, the backbone to your trading career is set!
 

2) Strategize, Strategize And Strategize: Planning is the heart of any online trading so as the Forex trading. As a beginner, no one is able to see beyond the pouring profits; but currency trading is known far and wide for its risky nature! The same markets that bless you with thousands, can take in millions. To make consistent winnings in Forex, you have to know where to go, how to, and what not to do on the way. These parameters are best solidified by a trading strategy. Plan out how much you will be investing, which currency you will choose to work with, and establish an outcome, so you have a goal to achieve!
 

3) Stay Fixated, Come What May: One shortcoming you will have to come to terms with is that unlike normal traders, you don't have the freedom to shuffle. Sticking to a style and plan is what will best work in your favor. Traders often, either out of curiosity or boredom, end up changing their trade routine. Which unquestionably leads to bad trades, when you follow a steady approach, you get to analyze your past trades, their trends, where you went wrong, and how you get right. When changing constantly, you lose track of wins, losses, and eventually become an aimless trader.
 

4) Focus On Growth, Not Money: Money isn't synonymous with success, maybe partly, but not completely. Forex traders make the misconception of thinking that the more they win; the closer they are to becoming a successful trader. Money is a relative factor in Forex trading, and what you make in a month can be lost in a day. Starting off, your focus should be on minimizing loss, that way you indirectly make better money. Once you have an array of successful trades on your portfolio, success is just a mile ahead.
 

5) Know When To Start The Demo And When To Stop: Demo trading is one of the best starts for beginners. To venture into the limitless world of Forex without any idea about it is scarier than it is adventurous. Demo platforms allow traders to experiment with strategies, currencies and see how the market works without suffering major drawbacks. However, at the same time, working too long on demo platforms will be problematic, real-time Forex markets have a very different environment, and the conditions you will face in a live trade are nowhere close to a demo! A demo is to learn, live trade to implement.
 

The field of trading offers a tremendous system for individuals to work in and profit from. Online trading, share trading and so many other genres exist that serve as a challenge and a reward. With the right set of skills, you can dominate all grounds! Get yourself a stellar broker today, and join the professional ranks. Why are you waiting then? Call WesternFX right away and avail our world-class Forex solutions. Our unparalleled brokerage will lead you to top the charts of Forex trading in Thailand! Get a free quote from us today.

Tips to Choose the Perfect Forex Broker in Thailand

Brokerage is the backbone that helps every trader stand firm. One of the most lucrative, and competitive fields of trading today - Forex empowers traders with an amazing opportunity to make good money. What used to be a hobby and grounds for some pocket money has today become a full-time job for several! Succeeding at this job requires the aid of brokers. Without an agent equipping you with strategies, trading platforms and live-trade assistance, winning will be a far-fetched dream.
 

Finding a good broker has become challenging today, with a plethora of them being scammers and fakes. 

Here are 3 important factors to keep in mind while choosing a broker:

How to Choose a Better Forex Brokers in Thailand?

1) Reliability and Trustworthiness: A regulated broker is a reliable broker. While most of the established agencies today have been regulated by bodies like NFA and CFTC, there are some who have a regulatory compliance, but still scam novices! The importance of a trustworthy Forex broker is incomparable. An efficient way of measuring a broker's reliability is by checking reviews and ratings given. These will equip you with a good idea, as to how your broker performs in the field.
 

2) Initial Capital Deposit: Not all Forex brokers facilitate trading with small amounts of capital. While some encourage novices to stick with a few hundred dollars, the others try to make them invest huge to make a bigger cut! Starting off, working with mini accounts is the wiser move. Get yourself a broker who provides both small and big account types. Efficiency in depositing and withdrawing money is also a factor to keep in mind. Hassle-free online deposit, be it bank transfer or through payment apps, and convenient transfer of money to your account define a broker's quality of service.
 

3) Provision of Leverage: Trading without leverage will only reward in a few dollars and cents. Winning big money is birthed by steady leveraging. Leverage is money borrowed from brokers, to hold high-value positions without owning the required capital solely. Without having proper leverage, and furthermore, protection from it, will only result in a short-lived Forex career. While you must ensure pairing with a Forex broker who provides well, you should also house in proper risk-management measures to keep from incurring losses. Leverage gives immense trading power, and with such great power, comes responsibility!
 

Forex trading in Thailand is seeing a good hike, indicating that now's the time to take to the wind! Get yourself an established broker's assistance, and see consistent profits. Sign up with WesternFX today, and avail our world-class services; from platforms to strategies, we will equip you with the best of all, to ensure you emerge victoriously. Call us today to get a free quote!

5 Ways to Think Like a Professional in Forex Trading

How you carry yourself in Forex defines the outcome of every trade! To walk down the path of foreign exchange requires skill, knowledge, and a strong mindset. A novice will perceive losses as a bad happening, while the smart trader will see them as an opportunity to grow. A positive approach can go a long way, and starting off, everyone should adopt it. Professional traders reach their level by not letting bad trades deter them in the slightest!
 

Here are 5 stellar ways to transition into a professional in Forex:
 

Tips to Think Like a Pro Forex Trader

1) Donning The Positive Hat: Expecting good outcomes is the key to winning Forex. With its highly volatile market, you never know where the track ends! Making hasty decisions, cutting trades short, are some of the many reasons traders fail at a currency exchange. Stick through till the end, price hikes happen without notice, and even the worst trade can go well in an instant!
 

2) Staying Committed: Overnight success is a fictional concept in any field! Online share trading is a domain dominated by those who work hard, luck plays a minimal role here. Traders drop out of Forex after just a few losses; persisting, however, would have rewarded them immensely! Keep working towards success, come what may - profits or losses.
 

3) Letting Losses Teach A Lesson: Several traders let past losses interfere; this leads to overtrading and losing even more. A professional approach to losses is learning from it. Sometimes they happen solely due to erratic market movements, sometimes due to mistakes - learn, rectify, and move ahead!
 

4) Being Patient: Patience doesn't mean sitting still and waiting for things to happen. Patience means, making things happen and waiting for the best result! Expecting a profit of millions to yield after a few trades is a dream. The climb to the top is always slow, but once atop the peak, the struggle is worth it!
 

5) Failing Grandly: The meaning of success is known better from a perspective of failure. Learn to take losses and embrace bad trades in Forex. These will teach you to do better, and avoid similar scenarios in the future. Once you overcome the obstacles in Forex, success is all there is!
 

Be it share trading, futures, contracts, or Forex - mindset plays a crucial role in all genre. Without a positive approach, even the best trade will yield badly. Want to achieve consistent success in trading? Call WesternFX today! With our world-class brokerage, you will dominate Forex trading in Thailand! Get a quote today.

How To Make The Most Out Of Supply & Demand In Forex Trading

Trading is governed by the market's necessity for a particular asset. When there is a demand supply has to go up, and when the former is low, so is the latter. Every market has buyers and sellers; uptrend’s can be seen only when the number of buyers outweighs the number of sellers. During trends, buy orders flood the market and because price hikes, until seller enter and cater the same. This is called accumulation or demand, when bullish trends are seen. 

Bearish trends, on the other hand, form when there are more sellers than there are buy orders! This leads to distribution or supply. Forex trading strategies help study this up and downtrends, ultimately allowing you to make profitable calls!

Forex Profit Making Tips by trading based on Supply & Demand

Supply and demand decides the outcome of each market, from small groceries to high-value currencies. When a buyer wants a certain product, its price will go up until the need for the said commodity is reduced. Likewise, the seller will have to reduce the product price if the market is weak, in order to create minimal interest in buyers!
 

Typically, before peaking, a trend starts off slow and the price is in the accumulation phase. After buyers notice it and start buying, the trend goes up till it reaches saturation. Here are 4 aspects of a healthy supply-demand zone in Forex:
 

1) Narrow Nature: A price spending too much time at a supply zone isn't something you want to see. A good supply zone is narrow and shortly held. This helps in finding reentries in the events of a pullback.
 

2) Stronger Breakouts: With strong buyer interests, prices start to leave the supply zone and trend. Demand zones are better with strong breakouts, and these are caused when there is an imbalance between buyers and sellers.
 

3) Fresh Zones: Supply zones indicate weakness in a price. Every time prices revisit supply zones, their value goes down.  Ensure freshness in the zone while trading supply.
 

4) Volatile Nature: Before a breakout, the supply/demand zone must display a narrow price behavior. The narrower the zone is the better the chances for a good breakout reaction.
 

Succeeding at Forex relies heavily on trends and capitalizing on them. Markets are influenced heavily by customer mentality. Unless there's a need for a commodity, it won't survive in the market! There are several such Forex trading tips that will greatly help you. Get the best tactics and cement your career in foreign exchange, call WesternFX today! Equip yourself with the best of strategies and amazing tactics to dominate the game.

Advantages of Using Forex Demo Account to Learn Forex Trading

Today, foreign exchange has become huge sought after, with thousands of traders constantly in search of the perfect formula for victory. Unfortunately, there isn't one! Forex, one of the most profitable branches of trades, is also the most risky venture of all. The only way to win at currency trading is with constant practice and research. To aid traders with this, Forex demo accounts are given. These platforms provide traders with the perfect space to learn the basics, intermediate steps, and practice currency exchange on a virtual platform till he can go live-trade!
 

Here's why demo trading is the best start to your Forex career:

Benefits of Forex Demo Account

1) Real-time Practice: The best way to learn a trade is to do it. Demo accounts provide that very advantage to FX players. Reading books and working out the math is good, but carrying out a trade in a simulated platform is times better! Though demo trades aren't live, they work in a simulated environment with a mock currency. Here you can watch the outcome of your actions without having to fear any harmful repercussions.
 

2) Platform Knowledge: An adept trader is one who has a full grip over his trading tools. There are several indicators, mechanisms in Forex trading that are absolutely necessary to win trades. However, getting a hold over these is no easy task. With a demo platform, you can practice and test out each of these tools and the effect they have on the markets. From risk-management to accurate speculations, you will need the assistance of multiple such mechanisms!
 

3) Strategy Testing: Something which even professionals do is devising new strategies and testing it. This breaks the common misconception that only novice traders ought to avail demo facilities. To stay consistent in Forex trading requires the ability to strategize sharply. There are several plans across multiple timeframes, to ensure traders have a flexible path to victory! Transitioning into a professional requires immaculate focus and to be able to devise stellar plans for every condition. With a demo account, you can work on any timeframe, with any currency and for however long, till you have come up with a suitable plan for your styles.
 

Demo accounts are often ignored, and several traders lunge into the markets without any practice! To reach the top takes a lot of experience and months of practice - the best way to avail both in a short amount of time is through demo platforms. You can get the best Forex demo account in Thailand today- call WesternFX! We will equip you with an amazing platform, demo and live, and assist you to victory!