MT4 Vs MT5 Features Comparison | Which is Best for Forex Trading 2019

Even the most skilled of traders require a tool that will help channel their techniques and reel in the expected results. This is what Forex trading platforms are for. With a trading platform, you get to employ a number of tools that let you analyze trades, speculate for potentially profitable trends and enter the ones you find best. In Forex trading markets, you can choose from a variety of such platforms, each designed to cater to different needs.
 

Though today we have a number of platforms at our disposal, MT4 and MT5 are the most prominent of trading accounts. Known for their versatility and simplicity in functioning, these platforms provide traders with a convenient experience while Forex trading in Thailand. However, 2 platforms can't be employed simultaneously! Try a Forex demo account here for free. 

Let's find out which one's the better platform between these two.

MT4 Vs MT5 Forex Trading Platforms Comparison

MetaTrader 4:
 

Prior to the introduction of MT5, MT4 was the industrial standard for a Forex trading platform. Used far and wide, this is the primary choice for many traders today. While it certainly provides the much-needed tools for trading, it does hold a few advantages over MT5.
 

• Expert Advisors that support the native MetaQuote language. 
• Takes up relatively lesser space, allowing you to easily accommodate this on smartphones. 
• Equipped with a variety of strategies. 
• Easily usable by novice traders.

MetaTrader 5:
 

The more recent version, this platform was released in 2010 and houses some major changes. While many consider it to be a better version of MT4, it is just a different trading account with its own set of advantages.
 

• Houses a number of chart timeframes. This includes 11 types of minute charts, 7 hourly charts and a number of daily, weekly and yearly charts. 
• Unlike the MT4, the MT5 can manage 2 stops and 6 pending orders simultaneously. 
• Has a new and better MetaQuotes Language for programming Expert Advisors. 
• Comes with an economic calendar that provides all kinds of data ranging from market information to release schedules. 
• Comes with more technical indicators than its counterpart.

To succeed at Forex trading in Thailand, you will need to master the usage of a trading platform. Both of these are beneficial in their own way, and it ultimately comes down to how you adeptly employ them! At WesternFX, we have an arsenal of trading platforms for you to choose from. With our experts ever-present to guide you, you can dominate trades! Reach out to us today and get a stellar trading account in Thailand. Victory is just a call away!

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!