Why Forex Trading Is Perfect For Your Future?

If you're one of those people who want to change the career trend and do something different, Forex trading might just be the right choice. A field with trillions of dollars floating around, Forex exchange has been quick to rise to fame. Today, there are thousands of traders who compete against the raging currency markets for a chance at making big profits. While there are a lot of hurdles to cross, the end result is incredibly fruitful. For those who want to invest in a bright future, Forex is the best start! 

Forex Trading

Here are 4 reasons why a Forex trading career is the perfect way to ensure the best future: 

1) You Are Your Own Boss: 

Forex trading is an incredibly flexible field, which means you are the one to call the shots. There are no higher-ups to answer to, and no extreme rules to curb you from getting creative! Everything from the trading timeframe to the currency pair chosen is your decision. Additionally, since Forex is a 24/5 market, you are free to trade whenever you want, you can say goodbye to the arduous 9-5!  

2) Become Financially Stable: 

As a Forex trader who sees consistent profits, you will become financially stable swiftly. With some practice on a Forex Demo account, you can move to live trades and start making money. Your first few exchanges might not bring in the profits you expect, but Forex is a field where patience dominates! So with enough time, you will achieve financial stability and see healthy wins come by regularly.

3) Learn Time Management: 

Time management is a skill needed for life, not just its sub-aspects. And as a Forex trader, you'll become the master of time management. Being a domain where patience is the ultimate virtue, Forex trading will put you up against a number of exchanges where waiting is the only way to see profits!

4) Forex Has Myriad Opportunities: 

You will never run out of opportunities in Forex. One of the most liquid markets in the world, in Forex, there is always a counterparty for your deals. No matter the timeframe or the value, you are bound to come across buyers or sellers for your deal. 

Get your very own Forex demo account today and learn trading! With the right guidance, any novice can blossom into a fine currency trader. At WesternFX, we have trained and guided several beginners, and set them on the path towards victory. Backed by our incredibly knowledgeable experts, you will see Forex Trading success come by swiftly! Call us now to get started! 

How To Pursue Successful Forex Trading In Philippines

Forex trading is often a volatile market space with extreme levels of fluctuations. While it creates abundant opportunities for traders to make profits, it certainly doesn’t make the task easy. It is essential to have an understanding of the potential risk factors and keep yourself from losing heftily. Calculating risks should be the primary goal when you enter this market.

Here are the top 3 pointers on how to succeed in the volatile Forex trading market of the Philippines.

Tips for a Successful Forex Trading in Philippines

1. Risk Management:
 

As the Forex trading market is quite volatile in nature, it is important to exercise caution always. The higher the volatility, the more stringent should your actions be. Consider this as a rule of thumb to make safe and profitable trades. Enabling stop-loss orders and position size can be useful to keep yourself from the dangers of unexpected fluctuations. However, they don’t guarantee a safe exit. So, it is mandatory to manage your functions when the market appears to be riskier than usual.

2. Following and Tracking Trends:
 

Trends can be both short-term and long-term. It is essential for the Forex traders to have a close eye on both in order to arrive at the best possible trades and boost their profitability. Forex trading strategies must be carefully structured so as to enable maximum growth with minimum loss. For long-term trends, employing higher time frames may be beneficial. Working on hourly timeframes will limit your chances of bagging a good sum as certain currency pairs may follow an uptrend over time, and if you are not patient enough, you will lose the gains.

It is always better to seek the broader picture before you make an important decision in Forex trading.

3. Keep Distractions At Bay:
 

Many times, Forex traders tend to get distracted by the news tickers and social media. They sway their focus and make them lose track. In most cases, they serve as detrimental factors which limit trading success. It is best to inculcate effective strategies and employ them as and when needed, rather than relying on an external source to indicate your next trading decision. To understand why certain sources are unreliable, consider this. There is a news agency which is interested in cooking up a story about an economic turmoil in Europe.

There is no evidence that their story is true and if you tend to believe it, and base your Forex trading decision on it, you are not going to get the results you expect.

WesternFX houses professional Forex brokers in the Philippines. We offer a variety of services to enable you with the skills and knowledge required to pursue successful trading. We also give you a Forex demo account which trains you to make successful trades over the course of time. Get in touch with us for more information!

Top 4 Essential Skills for Forex Trading in Philippines 2019

The difference between an ordinary trader and a successful trader lies in the vastly varying skill-set. The latter is sharp, disciplined and extremely driven, while the former is lethargic and rigid. Apart from the mentality, there are many skills Forex traders are required to have in order to see success. Several traders make the mistake of going all-in on their trades and ultimately failing to improve on them. As a novice, you can tentatively afford to house ignorance. But if you're looking at making good profits in Forex trading and thrive in the long run, there are some skills you'll have to attain.
 

Here are the 4 most important Forex trading skills you should have:
 

Top 4 Forex Trading Skills to Win the Trade

1) Analytical Skills: If you plan on Forex trading in the Philippines, analytical skills are an obvious must-have. The currency trading markets are unbelievably volatile with massive risks at every cusp! You will have to employ analytical means like fundamental analysis or technical analysis to find out where the markets are moving towards and bag good trades. Start off by reading the theoretical aspect of Forex trade analysis, then move towards demo trading experimenting and self-learning!  
 

2) Mental Fortitude: Many a rough trade will come by to leave you shook. How resilient you are in the face of Forex trading adversities will pave a way for your trading career. Forex trading is a volatile domain with risks abounding. Only when you're mentally adept and firm will you be able to stand headstrong in the face of a risky trade!
 

3) Keeping Apt Trading Records: If you keenly observe Forex trading professionals, you will notice that they all maintain a trading journal or a diary to keep a track of their trades. The reason behind this is simple - when you have a neat collection of your trades, analyzing them becomes easier. You will be able to correct your past mistakes, improve on your Forex trading strategies and ensure you don't commit the same errors again!
 

4) Understanding Forex On The Ground Level: Successful traders spend more time learning than earning. Once the day's trading quota has reached, they dedicate time to research and study further about Forex trading. To truly see consistent wins and have a flourishing track record, you have to learn and understand Forex from the very basics.
 

Forex trading in Philippines is going to be quite the challenge, for novices and professionals. You will need the backing of an expert if you're going to take to the top! Join hands with one of the top Forex brokers today - WesternFX. Avail our world-class Forex brokerage and see stellar results come by! Call us today to know more.

Forex Trading For Beginners - 4 Important Tips To Remember

Getting started with Forex trading can be a very intimidating and tedious process. There's just so much to learn! Aspects like indicator usage, strategizing, technical/fundamental analysis etc. can become demanding in terms of time and effort. This is why starters are advised to focus more on learning than on trying to earn. In the rush of launching as a Forex trader, there are many important points you will be unaware of, the impact of which will be felt in real-time trades. There is nothing more dangerous than trading without the necessary knowledge.
 

Make sure to give yourself the best trading start. Keep these 4 tips in mind as you begin:
 

Important Trading Tips for Forex Beginners

 

1) Spend More Time On Research: Research is more important than trading itself in Forex exchange, for one simple reason - placing one good trade backed by thorough research and knowledge is far more efficient and profitable than trading multiple times without knowing the basics and how-tos. Smart traders always spend the majority of their time studying market developments and learning new skills; by doing so, when a lucrative trend comes by, they are prepared to brave the storms and net in profits.
 

2) Learn Technical Or Fundamental Analysis: These are the two predominant analytical techniques followed in Forex trading markets. As a Forex trader, you will have to spend a lot of time analyzing market movements so you can bag profitable trends as they come. While learning and implementing both methods isn't advised against, it might get too hectic for a beginner. So start off by mastering one of the two and becoming aware of its various nuances. With one down, you can move to the other and become an analytical champion!
 

3) Fail and Let Failure Educate You: The initial steps are the most shaky ones, so don't let your falls create an impression that you have failed beyond redemption! Truth be told, failure is an admirable aspect in Forex exchange. When you make a few mistakes and learn from them, that lesson isn't forgotten easily. Especially as a Forex trader, you will start by making a few mistakes and small losses - let them only teach you to be better and not deter you from moving up the ladder.  
 

4) Demo Practice Till You Are Confident: If you are too nervous, you can always demo trade to get a better hang of Forex trading before taking trades real-time. Get yourself a good demo trading account from your broker and practice all you want! It's a virtual platform with no real-time risks to worry about.
 

Make sure your Forex trading career is in safe hands, avail the best-in-class brokerage and insure it! Call WesternFX today and work with our Forex exchange experts. With the backing of our stellar techniques and excellent platforms, you will transform from a caterpillar into a butterfly in no time!   

How to Choose a Forex Brokers in Philippines 2019

Finding a good Forex broker is just as important as honing your trading skills. Without being assisted by the right broker, making good trades will be arduous. Brokerage firms are responsible for connecting traders with currency markets, and provide them with demo platforms, trading assistance and strategies. With the Forex exchange markets today becoming competitive down to the core, finding a good broker has become the first need.
 

Two of the most prominent reasons why the brokerage you avail should be nothing less than stellar are: 

Tips to Choose Better Forex Brokers

 

1) Staying Ahead of the Competition: The Forex markets see thousands of traders on the same grounds as you, and only with professional assistance can you stay ahead of the competition.
 

2) Not Falling to Scams: Many Forex brokers in the markets scam novices mercilessly! Reputability and reliability are a must.
 

Retail Forex brokers have today made it possible to avail benefits like leverage, and trade an asset that used to be limited to a few people. Additionally, they provide a lot of comforts allowing you to trade from online without having to go to banks or any place such! So essentially, you can make a good winning sitting at home, and all you will need to top your trading knowledge with is the right Forex brokerage.
 

Here are 4 factors to help you decide on a good broker:
 

1) Demo Trading Provision: As much as you want to get started with Forex trading in the Philippines live, right off the bat, doing so is a reckless act! Demo trading should be your first move. Since you are starting off, and have little to no idea of the game, demoing will help greatly, and your Forex broker should provide you with the provisions to demo.
 

2) Customer Service Quality: When you're in a pickle, it is the broker who will help you out. This is why the customer service he provides should be of stellar quality. He should help you through bad trades with the same zest as the good ones!
 

3) Trading Charges Levied: The charges vary from one Forex broker to the other, and in some cases, a high rate means better service. Depending on your capital, pick a broker you find the most cost-effective and suitable for your trades.
 

4) Efficiency of the Trading Platform: Partner up with a broker who provides you with a good Forex exchange platform, which has the necessary indicators for you to monitor charts and make educated moves.
 

Your career at Forex trading in Philippines will shine brightly when aided by an expert broker like WesternFX! Avail from our arsenal of Forex trading solutions today and take your trades to the skies. We come equipped with the best of trading platforms and our professionals will brew the perfect Forex trading strategy for your ventures. Call us today and know more!

Why is Trading Stocks Through an Online Broker Better?

What's more convenient than trading from the comfort of your home? Stock brokers provide you with a trading platform, following which, it is all you! Online trading is beneficial in many ways - from comfort to efficiency; it is an amazing alternative to physical trading. You don't have to overwork yourself traveling all the way to the brokerage firm or burden the hassle of physical documents. With online trading, everything can be done with the click of a button!

Here's why online trading can prove hugely advantageous:

Reasons Why Stocks Through an Online Broker is Better?

1) Affordable Fee: A problem several traders face is the money needed for paying spreads and commissions. With most of their money invested, they can't always afford to pay their broker. Online trading removes this hassle! Online, with so much as $5 you can buy or sell stocks. Conventional brokers, on the other hand, will charge a lot of money, which you will have to pay irrespective of profit or loss.

2) Learning Platform: Online brokers offer a lot of resources to traders - beginners and professionals alike. In fact, the best place for novices is online. With a good demo platform, you can learn a lot more than you would in the live markets - all without risking a penny. An added bonus to this is that with online brokers you have 24x7 services! No matter what pickle you're in, a good online broker will help you through it.

3) Flexibility and Efficiency: Online traders have no appointments or calls to place. With online trading, you can trade at your comfort. Stock trading, however, needs one to be punctual, where online trading helps all the more! The meticulous nature of online trading can't be overcome by physical trading; which needs appointments, physical documents etc. All you need is a good trading platform and you're set to trade!

4) Real-time Statistics: A huge boon for online traders is they get to monitor charts as they are updated. This level of accuracy is unparalleled, and certainly not outdone by a conventional physical trade. In trading time plays a huge role, each second's precision is necessary to pull off a good trade. Several analytics tools, speculation mechanisms, and indicators are available for traders to utilize to their heart's content.

Long gone are the days of journeying to office-places for a simple day trade. With online trading now facilitating every genre of trades, everything has become times easier. WesternFX offers stellar online brokerage services - from platforms to consultancy, we cover the A-Z of trading! With our assistance, your trading success is guaranteed. Want an impeccable forex broker in the Philippines, call us! 

Forex trading and its myths

The influence of mainstream media on our society and its understanding of the industry can never be understated. By perpetrating stereotypes and spreading unverified information, mainstream seldom covers the entire forex industry and has glorified online trading in Philippines as a money-spinning industry. While the forex exchange is highly lucrative, several misrepresented facts have led to myths about the industry that have been highly circulated and advertised. Contrary to what gets wrongly advertised on the walls of social media, trading has a few myths that should be debunked in order to ensure that hundreds of novice traders do not enter the industry and make losses due to inexperience.

7 Common Misconceptions about the currencies market

1. Becoming rich is easy. On the contrary, 90% traders tend to lose their initial investment.

2. Forex trading means Day trading. Long trades are allowed as well and making money from them requires less effort and more planning.

3. Market may be rigged. The currencies market is too huge for any single player to manipulate it.

4. 100% success rate is possible. 100% success rate is impossible. Even the best traders can’t post such high rates of success.

5. Trading using news is sufficient for profits. News reports are just one part of fundamental trading. To discern the right pattern, traders need to track other important factors as well.

6. Using more pairs assures better returns. Online trading with a single pair or two is the best way to focus on the financial instrument and predict its movement accurately.

7. If you can predict the market, you can get rich. Predicting the market is impressive. However, to register profits, traders must execute the trades perfectly.

Traders need to ensure that they get their understanding of the FX trading platform right before they venture into the market. This can help them ensure that they do not fall prey to falsely advertised myths and pay a heavy price. It is always advisable for novice traders to request the guidance of experts before they take up Forex trading. For traders who are looking to take up online trading in Philippines, partnering with reputed Forex brokers like WesternFX can help them know about the workings of the industry in detail and make an informed choice when they take up trading.

The Five Different Ways to Invest in the Forex Trading

With the spike in popularity of online investments, an increasing number of investors and individuals looking to make money are turning towards the currencies exchange. The Forex exchange market, one of the largest in the world, handles transactions exceeding over $5 trillion a day. The sheer size and the vast promise it holds has caused people in the Philippines to sit up and take notice of the online trading world. 

However, while many want to enter the Forex market, there’s one thing that holds them back – the ‘how’ factor. How to get started? How should I choose the right option for my needs? How can I make profits? Instead of losing yourself in the maze of these questions, start getting answers and engage in Forex trading in the Philippines.

Here are the five different ways you can make your entry into the market:

#1) Open an account with a broker

One of the easiest ways to get started is to engage in spot trading a currency pair. For this, you’ll have to open a trading account with a Forex broker in the Philippines. Once you open the account, you receive an online trading platform, wherein you can receive live price feeds and open/close positions in real time. If you’re new, it’s advisable to make use of the resources and leverage provided by WesternFX and its feature-rich account.

#2) Foreign currency futures

This type of trading includes a futures contract wherein the currency exchange rate is considered the underlying asset and involves buying or selling a specified amount of currency at a pre-determined date and price. While the degree of leverage is lower than the spot market, it is nevertheless highly regulated and is a viable option for those who are not comfortable with spot Forex trading.

#3) Currency Options

A foreign currency option gives the holder a right to engage in Forex exchange transactions but is not an obligation. An upfront cost called a premium has to be paid to obtain this right and entitles the holder to exchange money in one currency into another at a pre-agreed exchange rate. Also, the inter-bank deposit rates and the current spot price of the currency pair play a role in determining the option’s price.

#4) ETFs and ETNs

ETFs (Exchange-traded funds) can be associated with a single currency or a group and are deployed in cash deposits. For ETFs that use futures, some amount of extra cash is invested in bonds. ETNs (Exchange traded notes) are debt instruments wherein price fluctuates based on the changes in the underlying exchange rate.

#5) Foreign currency time deposit

In this, traders benefit from the interest as well as any appreciation in the price of the currency. While foreign currency time deposits may seem like a lucrative investment opportunity due to the high-interest rates involved in online trading, in some cases, any depreciation brought about in the value may negate the returns earned.

Invest wisely with WesternFX

Whether you want to trade in Forex futures, options or engage in spot trading, WesternFX, considered one of the best Forex brokers in the Philippines, can guide you through it. Start your journey on the FX platform with us today.

3 powerful Forex trading strategy that can make you money

A simple online search for ‘Forex trading strategies’ is bound to yield hundreds and thousands of results. Every trader has a unique plan to approaching the Forex trading market in the Philippines.  To a beginner, the sheer volume of available resources, articles, and the knowledge database might seem intimidating. But there’s an easier way! Instead of trying everything and achieving nothing, stick to strategies that actually work.

Here are the top three Forex trading strategies in order of their increasing complexity that can prove useful in providing a profitable outcome:

#1) The 40 pips pull back scalping strategy

It’s easily the simplest and something just about anyone could do – and that includes beginners. Here’s how it works: you need to observe the market closely and see if a currency pair moves 40 pips in any one direction from the opening.  Now, all you need to do is peg your opening in the opposite direction. Why? Because the FX platform cannot move in a single direction for long and has to take a turn. With this strategy, you can gain a minimum of up to 15 to 20 pips.

#2) Buy above and sell below the MA

If you’re accustomed to the Forex trading world, you might already be aware of Moving Averages. You can adopt a better than usual approach to using MA. If the candle is above the moving average in the chart, make a buy, and if it’s below it, make a sell. You also need to prescribe the appropriate Profit Target and the Stop Loss so that you don’t end up making impulsive decisions and can limit your losses if any.

#3)  Fibonacci Forex trading strategy

This is one of the most complex Forex trading strategies used by traders in the Philippines, yet can prove useful if mastered. Find the most recent swing high and swing low, naming it A and B. Find appropriate AB swings and set Fibonacci in both directions. Watch the retracement from AB swing and wait for it to unfold. Then you need to observe the following:

•    Price must reach 5 WMA (Weighted Moving Average)

•    It must touch at least 0.382 Fibonacci retracement level

•    Price should not close above (uptrend) /below (downtrend) of 0.618 retracement line.

If these criteria are met, enter the trade long if the candle is closed above 5 WMA and short if it’s closed below

It might take some time to master these strategies and make money from the online trading in the Philippines. It’s not advisable to put real money on the line and instead trade with a Forex demo account, practice, refine, improve and only then use a live account. WesternFX, an award-winning Forex broker, provides the best platform for it!

Stock trading Vs. CFD trading: What shows greater promise in 2017?

Considered Asia’s leading emerging market, Philippines has recorded staggering growth in recent times and a remarkable increase in trading activity.  From stocks, bonds, currencies to indices, the spurt of growth is evident across all financial markets. With investments being made easier through the introduction of online trading; stock trading and CFD trading have witnessed substantial growth and have reached a peak in 2017. Those looking to take their first step into trading, are caught in a dilemma when it comes to choosing between the two.

So, what’s the better option and why? Let’s find out the answer to that very question by highlighting the advantages and disadvantages of trading in stocks and CFDs:

CFD TRADING OVER STOCK TRADING:

THE GOOD:

Commissions:

The brokerage commissions on CFD trading in Philippines tend to be very low, making it a popular choice amongst traders, who want to retain a good cut of their profits. While earlier, stock brokers charged higher brokerage, the increase in competition has prompted several brokers to lower it. In 2017, both online trading options gain the edge with low trading commissions.

Leverage:

If there’s one reason why you need to pick CFDs over the other, it has to be leverage. Instead of buying ten stocks for 1000 PHP, you can instead invest the same in five contracts, controlling 500 shares with the same sum. That’s leverage – and to those who use it wisely, it promises massive profits.

Diversity:

As opposed to the stock market, CFDs allow traders to choose from over 10,000 instruments to trade, from currencies to commodities to oil. Diversifying the portfolio enables traders to maintain a balance because a loss in one tends to get compensated by a profit in another.

Short trades

A stock trader can make a profit only if the price of the share goes up. However, CFD traders can make profits either way, i.e. they can go short and make money even if the price goes down, giving them greater control over their positions.

Trade duration:

Since traders might have to wait for long durations to wait for the price of the stock to rise and make a sell, the duration is quite lengthy. CFD trading, on the other hand, allows traders to profit from small fluctuations. In fact, in the Forex trading platform, scalpers open and close positions within minutes.

THE BAD:

• Trading too many instruments and making too many trades, may complicate things for a beginner in the field.
• Leverage can have an adverse outcome and amplify losses in CFD trading.
• A CFD investor in stocks has no rights as a share holder since there is no ownership of the asset involved.
• Holding positions in CFDs for extended periods invites overnight financing charges since the underlying asset is being ‘borrowed.' Buying shares directly is devoid of such charges.
• CFDs are over-the-counter, and you cannot transfer your position to a different broker or provider. You’ll have to deal with the same broker the position was opened with.

The verdict: Weighing the pros and cons of each, it’s safe to say, that neither wins nor loses in 2017. Each has its drawbacks and advantages over the other. If you want to trade shorter time frames, then CFDs are for you. However, if the leverage aspect worries you, you can still trade with zero leverage. WesternFX is the leading Forex brokers in the Philippines that offers flexible leverage. You can start with zero leverage or even go as high as 1:500. If you’re still confused, talk to the experts at WesternFX before opening an account with them.