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!