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.