4 Costly Psychological Mistakes Forex Traders Make

Forex trading has a lot to do with the mind and the heart, but as a beginner, these factors are beyond traders. Though known to be one of the most profitable financial markets, currency exchange comes with several risks of its own. As a beginner, you might not see it clearly, but your trading mindset plays a vital role in defining the outcome of your trades. 

Novices are known for underestimating market risks, trading due to greed and making many such expensive mistakes. Avoiding such errors itself will ensure that you have a successful career as a Forex trader!

forex trading strategies

Here are 4 common psychological mistakes you should avoid as a Forex trader: 

1) Expecting Overnight Profits:

Expectations cause nothing but problems in the world of Forex trading. Since profits ultimately rely on accurate speculations, there's a lot of room for expectations. As a Forex trader, expecting is natural; when you've invested a good few bucks, to make more in return is a normal feeling. However, expecting overnight profits can lead you astray and foil your trading efforts. 

2) Trading Emotionally: 

Always leave emotions out of your trades. Confidence and fear are two extremely sensitive emotions to deal with while trading currencies. If you get too confident, you overtrade and lose, and if you fear too much, you don't trade at all! So only invest emotions like you invest capital - carefully. 

3) Counting Your Eggs Too Early: 

Never count your eggs before they hatch. One of the biggest mistakes Forex traders make is banking on profits they have yet to earn! Getting your hopes up will only break your heart and mind later when you realize that you've lost your trades. So always be braced for the worst and have adept Forex Trading Strategies at the ready. 

4) Playing It Too Safe: 

Risks are what make Forex trading the exciting financial market it is known to be. Playing it safe on such grounds is a foolish mistake! Be ready to take risks when you have to and pull out of a trade when you have to. Strike a balance between risking and backing out! 

These mistakes will be incredibly expensive on you, not by bringing in losses, but by taking you away from profits before you can even realize! Don't make the same errors others make, start off with an easy Forex Demo in Philippines before you step into the live trading markets. Reach out to WesternFX today and avail our world-class brokerage! Our seasoned traders will provide you with stellar trading guidance and see you through to victory!

Why It's Important To Realize That There's No Holy Grail In Forex?

If you go around the Forex trading markets looking for the perfect trading method or a holy grail to follow, you will end up amusing many traders! Every trader who has spent a good amount of time exchanging currencies knows that there is no holy grain in Forex. There are no Forex trading strategies or systems that will help you achieve 100% profits. 

 

 

Brokers conveniently tell you to sign up with them and promise you big profits, but that's just a grand hoax. Experienced traders know that chances of losing money are much higher than chances of making it. However, novices are unable to differentiate between myths and realities, and end up working with brokers who rob them in broad daylight. 

 
Sticking to the misconception of there being a single successful plan of attack will leave you neck-deep in losses. To survive in the Forex trading markets, you will have to come to terms with and embrace the ever-present volatility. At no point in time will you be able to make accurate speculations, because the Forex markets are prone to economic shifts. Factors like inflation, national debts and export/import play a vital role in deciding how the markets are going to behave.

 
Here are 3 reasons why believing in a one-shot approach will never work out in Forex:

 
1) No Trader Can Be Ready For All Volatilities: 

 
Forex trading has the potential to get dangerously ironic when it pitches a number of uncertainties against you, and while you prepare for one, the other leaves you troubled. So keep in mind that it is impossible to dodge losses and risks in Forex. Even with risk management means like stop orders in place, a few losses have to be taken. Instead of trying to avoid losses, the better method is to embrace risks and move on towards better trades. 

 
2) Economic Factors Affect The Market:

 
trying to control the market is an insane thing to even think of, let alone try. The Forex Trading markets are tied with a country's economy, political and social factors. This means that any changes in said factors will lead to big changes in currency values. And even with years of experience, not all of these changes can be taken into account while making a trade. 

 
3) No Strategy Can Always Succeed: 

 
Forex trading allows you to employ a variety of strategies in your trades. From short-term approaches to long-scale Forex trading strategies, you can work with any approach. But none will guarantee profits. To win trades is up to you, not the markets.

 
Partner up with WesternFX and get yourself the best Forex Trading Strategies in Philippines. Our experts will equip you with top-notch approaches and see to it that you emerge amply successful! Call us today to get started with Forex trading.

6 Factors That Influence Forex Exchange Rates

In the field of Forex trading, it is very important that you stay aware of the exchange rate at all times. This value is what helps determine if a currency pair is worth buying or selling. The exchange rate of a country determines its economic strength, which is what makes the former a very important trading criterion. 

A currency's value and a country's economic stability are determined by certain underlying factors. And as Forex traders, being able to understand these factors will give the necessary momentum to get ahead of market risks and make steady profits from all movements. When a country's economy is strong, it is safe to trade its currency - that's the general idea of studying exchange rates. 

Forex trading strategies in Philippines

Here are 6 major factors that influence the Forex trading industry: 

1) Inflation Percentage: 

A country that has a lower inflation rate will see more appreciation in its currency value. Low inflation periods lead to a very gradual rise in the value of commodities. When a country's inflation rate is low, its currency value will rise to keep up with the demand. However, countries that have a high inflation percentage will see a falling currency value. 

2) Current Account: 

Foreign investment earnings and trade balance are what a country's current account comprises of. Everything from export-import to debt information is reflected on this account. When a country spends more on import than it earns through exports, depreciation is caused. 

3) Political Stability: 

If a country's political stability is in shambles, no growth can be expected from it while Forex Trading. Countries that have good leadership across all levels are bound to bring economic growth. This also indicates that the country is more focused towards development, thereby making its currency a safe investment choice. 

4) Interest Rate Changes: 

High interest rates provide high rate to lenders, thereby leading to an appreciation in currency value. 

5) Public Debt: 

When a country has a lot of debt incurred, investors are less likely to invest in it and the country itself won't be in a position to acquire foreign capital. This would ultimately lead to their exchange rate dipping. 

6) Terms of trade: 

The terms of trade is a ratio used to denote the export-import value. When a country has higher export prices than import prices, the demand for said country's currency increases, thereby leading to an appreciation of its exchange rate. 

Many Forex traders ignore the weight these factors carry in the foreign exchange market! Don't make the same mistake; with exchange rate knowledge, finding profitable trends to capitalize on will be a breeze. Master your Forex trading skills with Forex Trading Strategies in Philippines experts at WesternFX by your side! Avail our world-class currency trading brokerage today and see the magic happen.

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.

Does CFD Trading Suitable For You – Here’s the Checklist

CFD trading has become one of the most popular trading domains and a very sought after way to invest in other financial commodities. With CFDs allowing traders to employ leverage on financial assets that otherwise can't be leveraged, we can observe a huge shift from the latter's markets to the formers. While lucrative in multiple ways, CFD trading is by no means an easy ordeal. The markets can get nightmarishly risky in minutes and leave you to lose all your trading capital!
 

What makes CFD trading so appealing is that it allows traders to trade without buying the underlying asset. You need just pay for a contract and speculate on an asset's rise or fall in value! In addition to this, markets like the stock exchanges don't allow traders to leverage, but with a CFD you can hold high-value trade positions on any commodity!
 

What is a CFD?

CFD Trading Checklist

CFD means contract for a difference and is a derivative that can be traded on a number of financial instruments like currencies, stocks or indices. You have to buy a contract at a given price and speculate on the asset's value hike, if it goes up when you're selling it, you will make a profit. It is essentially an agreement between two parties to trade the difference in the asset value. The key point here being that the asset itself isn't being traded; only its value is being speculated on.
 

How Does CFD Trading Work?

CFD trading works no different than a normal trade. Take stocks for example, if the value goes up, you will see profits, and if it goes down, losses. So what makes CFD trading so special? As a CFD trader, you need not own the asset. In the stock exchange market, for example, you will have to purchase the stocks. This won't be necessary while CFD trading! Additionally, CFD allows you to leverage your trades to increase the profit potential. 
 

What Makes CFD Trading Unique?

1.    You only pay the spread amount, nothing extra.
 

2.    There's an extensive array of financial commodities like indices and currencies to choose from.
 

3.    One trading platform allows you to access all the other markets you want.
 

4.    CFD trading allows traders to trade both ways. This means that you can profit from falling markets just as you can from ones that are rising.
 

Grab your trading platform today and get started! With WesternFX by your side, you can start CFD trading right away. Our seasoned veterans will provide you with all the tools you need to excel at your exchanges and make big profits swiftly. Reach out to us now to know more!

Top 4 Forex Trading Tips for Beginners in Philippines

Spread trading is the art of making directional trades with smaller risks. When you buy and sell the same number of assets on varying rates, you are spread trading. A killer strategy, spread trading if employed right can bring in stellar profits. However, like all things in Forex trading, proceeding without a plan can prove to be extremely dangerous. Traders often experience a swift downfall due to poor implementation of strategies or the lack of preparedness.
 

Here are 4 spread trading tips to help Forex traders get on their feet and make profits: 

Basics of Forex Trading for Beginners

1) Always Do Your Homework: As a beginner, the one thing many fail to do is research. They are bubbling with energy and ache to enter the live trade markets. But without the backing of the necessary knowledge, you will stumble immediately and crash early. It always takes time and experience before a trader can see success. To succeed early, however, a good amount of research is required.
 

2) Demo Trade Until Sure: Demo trading is done to test out Forex trading strategies and to learn how to trade. Once you have the knack for strategizing, spend ample time on a Forex demo platform perfecting your approach. While many traders are skeptical about demo trading, it provides an unmatched real-time learning experience. Though these platforms don't imitate a live trade exactly, they are ample for the ones wishing to learn and test trading approaches.
 

3) Start Off Small: Give a novice $1000 and he will blow it by the end of the day, give a professional $1000 and he will turn it into $10,000 by the weekend. How do the latter multiply investments? By taking smaller but surer steps. It isn't about how much capital you have. It is how you invest that matters most. Beginners almost always look to put all their money into thinking it will come back incremented, but it won't. Always start off small and grow in humble amounts.
 

4) Study The Markets: The result of every trade is ultimately decided by the research put in. If you have studied the markets well and trade accordingly, you are bound to see better profits. Erratic market conditions are the reason behind several Forex trading losses; study them, and you can dodge most!
 

Get started with Forex trading in Philippines on the right note - get started with WesternFX! Our seasoned veterans will aid you through trades easy and hard, making sure you emerge successful through them all. Assisted by world-class strategies and equipped with modern trading platforms, you will be able to make winning trades in no time.  Try a Forex demo with us today and see the potential for yourself!

Pros and Cons of Forex News Trading Strategies in 2019

The past few years have seen news trading rise rapidly and become one of the most prominent Forex trading approaches. Traders and experts everywhere are always on the lookout for nailing down the most perfect Forex trading method. While perfection and effectiveness ultimately boils down to how the market conditions are, news trading is one approach that's evergreen. Several thousand traders have seen it bring tremendous results, and it continues to be one of the go-to Forex trading strategies for players worldwide.  
 

Forex News Trading:
 

Forex News Trading Strategies Pros and Cons

 

Foreign exchange markets are heavily impacted by economic, political and social developments. Most of this gets summed up by major news events. It can be noticed that whenever major news releases happen, the currency markets see a rise in volatility. Only when a country's economy is stable will its currency be of significant value in the markets. News traders focus on studying the country's economy to gauge their profit potential. With the Forex news trading approach, the above-mentioned three factors will always have to be watched out for. 

 

When you trade with the latest information on your finger tips, profit will be quick to come by. However, there's more to trading than simply placing exchanges based on economic happenings.
 

What Makes Forex News Trading So Hot In The Currency Markets?
 

Forex trading is a field where most traders come to make quick profits and withdraw their stance before losses slip in. Trading the news allows them to make trades that are unbelievably accurate. When trading news disrupt the market, volatility levels see a new high - and that makes currency trading all the more exciting for traders everywhere. If there's one thing traders enjoy more than profits, it's the raw adrenaline gushing through them during intense trades - and that's precisely what news trading brings to the table!
 

Forex News Trading Pros:
 

Some traders want to have a more stable trading career and don't want any big ups and downs. News trading, however, is a high risk high reward Forex trading strategy that puts you against markets of huge tides that could drown you, but could also fills your bucket with hundreds of fishes. On a daily-basis, watching the news releases will give you information that can be employed to make the most out of each trade, giving you a clear competitive advantage.
 

Cons of News Trading:
 

Forex news trading, unlike other approaches, is more reaction-oriented and less relatable with a planned strategy. Sudden shifts that the markets see due to economic developments can set the seas moving in other directions, ones you wouldn't have predicted. To add to this, there's slippage to worry about. Even with a stop in place, a slippage will cause you to lose trades irrespective of the measures taken!
 

Forex news trading is no less than a rollercoaster ride with the brakes off. You never know where the next turn will be, and you won't have time to prepare for it! Don't let market volatilities catch you off-guard; pair up with a reliable Forex broker like WesternFX and watch your risky ordeals pay off. Call us now to know more about news trading and how to win with it! Also, get a Forex demo account for your practice absolutely free, within minutes.

Top 7 Common Tips for Forex Trading & CFD Trading Beginners

Thriving in the Forex and CFD trading markets is a challenging deal not many can pull off. While there are thousands of currency and CFD traders, there are only a few successful ones. Is this because the markets are volatile and erratic? Yes, partly. Most of the downfalls faced by traders are a result of poor strategizing and inefficient trading. Success in the trading world goes beyond simply making money; perfecting aspects like capital management and loss mitigation are no less than monetary success.
 

To get perfect at Forex trading is close to impossible since the domain is ever-evolving. What you can do as a trader however, is stay up-to-date with market developments and keep improving on your approach to see consistent, profitable results. 

Here are 7 tips from professionals that you can follow in your CFD and Forex trading venture:
 

CFD Trading and Forex Trading Tips for Beginners

1) Leveraging: CFD trading in the Philippines and Forex both have the beautiful facility of leverage. Put simply, leverage is money borrowed, that will allow you to hold high-value positions in the market, much more than your initial capital would allow for. The thing about leverage is that it is a very fancy temptation, but should you cross certain lines, the losses incurred will get far heavier than you can bear. Leverage works both ways - you win, you win big and should you lose, you lose just as big, if not bigger.

The most professional piece of advice you can get, be it while CFD trading or Forex trading in Philippines, is that never over-leverage. Stick to minimal ratios.
 

2) Employing Stop Orders: At times you may go overboard by mistake, how do you stop a trade that can't be stopped? By employing stop-losses. Much like the name suggests, they stop losses. The trick is to place sharp stops. Traders, mostly out of fear, place early stops which keeps their trades from realizing the tiniest of profits! Similarly, a stop kept too far beyond will be no different than having no stop at all. With ample market research and trend analysis done, you can find out the perfect spot to place your stop-loss. 

This won't just help with stopping losses, but also with increasing the prospects of profit while CFD trading in Philippines. 
 

3) Strategizing An Approach: Strategizing is no less than an art. Traders spend weeks and months learning the subtle nuances of Forex trading in Philippines so they can devise an approach that is completely prone to failure. While it isn't possible to have a 100% winning strategy, you can definitely devise plans that minimize losses and maximize profits. With the assistance of a good mentor, or a broker, you can set a strong plan in motion and realize stellar results. 
 

4) Controlling Emotions: The key to succeeding at CFD trading in Philippines is a basic step, but immensely difficult to implement - controlling your emotions. It sounds doable, but the lack of control is what sets several traders on a path that's too awry. Many traders, novice and professional, tend to lose control over their emotions and give in to the emotions of greed and fear, which make a deadly duo. Unlike the more technical aspects of CFD and Forex trading, emotional control can't be perfected through theoretical knowledge. 

You have to keep stops in your head and know where to draw the line. The prospect of making thousands in profits is tempting, but you have to understand that somewhere down the line one bad trade can ruin all your winnings.
 

5) Managing Capital: Another element inside the walls of Forex trading is capital management, one that can either take you to the high peaks of success or keep you eternally pinned down in the land of breakevens and losses. With wise management of your money, you can see it multiply and take you to higher levels of success!
 

6) Reviewing Trades Thoroughly: Trades always ought to be reviewed, either before making them or after. Professionals suggest keeping a trading diary while CFD trading in Philippines to keep a neat record of your trading moves so you can review and revise later.
 

7) Diversifying Your Approach: Never stick to one approach for long durations. The markets are huge, and you should try out a variety of strategies, currencies and trading approaches in general. Diversifying will allow you to experience Forex better and even make good profits!
 

CFD trading in Philippines will be a taxing domain for beginners and professionals alike. With a dedicated expert to guide you, it will incredibly easy to learn as you earn! Partner up with WesternFX and avail our world-class brokerage today! We come housed with an arsenal of seasoned trading veterans, who will provide you with the A-Z you need to succeed in today's competitive trading markets. Try a demo today and see for yourself, call us now! 

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!   

3 Crucial Things You Should Know About CFD Trading

Contracts trading aren’t as intimidating a field as many picture it to be, but at the same time, it is no cakewalk either. CFD trading is one of the most lucrative markets today and allows traders worldwide to take part and trade from a vast array of commodities like currencies, indices, stocks etc. If you are new to the field of contracts trading, you are bound to be fascinated! And now that you're fascinated, there's nothing stopping you from taking it up and seeing rapid trading success.
 

As a beginner in CFDs, you will definitely find yourself boggled by the sheer number of elements this domain consists of. Starting off will be confusing and challenging, but once you are halfway down the mile and look back, you will be surprised at your achievements! 

Here are 3 things to know about CFD trading before getting started: 

Crucial Things You Need to Know in CFD Trading

1) Profiting in CFD Trading: Like you would do in any other market, profiting is all about making timely moves and making it meticulously. The Online trading in Philippines like CFD trading will allow you to trade a number of financial assets and profit from losing trades just as from the winning ones. This double-ended nature of contracts exchange makes it a huge boon for traders. From your end, you only have to study trades sharply and make sure you know when to make the trade. After that, be it a rising or a falling trend, both ways can be profitable so long as your approach is sharp!
 

2) Finding Lucrative Trades: A good trade might show to the plain eye, but a great one is usually hidden. This is why technical and fundamental analysis is two extremely important elements of CFD trading in Philippines. If you want to net in the profitable trades, you will have to analyze the charts and hunt for them. With technical and fundamental analysis fuelling your search, you will be able to zero in on the big trends swiftly and make a move on them.
 

3) Potential Market Risks: No matter how hard you try, losses can't be avoided. Losing trades is natural in CFD trading, and something you shouldn't be embarrassed about. You can however minimize the losses by taking educated risks and keeping them minimal.    
 

To get started with CFD trading in Philippines, some such basics will get you up to speed! And as far as winning these trades goes, our experts at WesternFX have you covered. Assisted by our professionals, you will be able to master the art of contracts exchange swiftly and start seeing real-time results in no time. Aching to begin? Call us today and we can get started right away on our stellar trading platform!

Should You Trade using Forex Trading Signals to Make Profit?

Much like the false claims of 100% profits that many brokers make, Forex trading signals are no different. The providers behind these signals put up plenty of claims promising money and good returns, and this to novice’s sounds like a blessing! They, in turn, spend more on these signals than trades themselves. Don't be mistaken, when availed rightly, Forex trading signals can be of great use. However, many providers see this as an opportunity to cheat traders into giving them money in return for a service which barely deserves the investment given!
 

What are Forex Signals?
 

How Forex Trading Signals Benefits the Traders

Forex trading signals are alerts sent by providers through e-mail, text messages or through social communication platforms. This provider doesn't necessarily have to be a human! Sometimes, signals are sent by Expert Advisors, also known as trading robots. By studying the market trends and seeing your trading criteria, it arrives at a sensible conclusion and sends out these alerts punctually.
 

A good trading signal is made up of three main elements:

1. Currency pair suggestion 
2. Entry point 
3. Profit point and stop-loss placement suggestions
   

As a novice, this all will seem incredible. You will believe signals to be some sort of guarantee to your trades. After the first few trades, Forex players come to the scary realization that currency exchange is times more difficult than it seems. With this field as arduous as it is, many try to find shorter ways to profit from it. One such way is employing signals. The thing is, Forex signals aren't bad in any way, and they just inhibit your learning experience.
 

Knowledge you could gain by performing some in-depth analysis, they deliver automatically, thereby keeping you from employing educative means and learning better about markets! Online trading is a field where the learning curve gets steeper with every milestone met. The best way of approaching this is to research, come up with a planned trading technique and keep analyzing the influencing factors.
 

While you may think that using signals will magically amplify your trades, the truth is not nearly close. With a planned approach, you can easily cruise through trades, mitigate losses and make a good winning each day! And even on the day, you make losses, you will learn important lessons that will help you trade better down the line.
 

Don't fall for the trap most scammers set! You have a bright Forex trading career ahead of you. Reach out to the experts at WesternFX today, and with our guidance, you will be able to soar higher than ever! Call us now, talk to our professionals and you will know how!

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!

Top 6 Forex Trading Strategies to Try in Philippines 2019

Be it a job as simple as making coffee or something as complex as trading currencies - a strategy is a requisite. Say you ended up adding salt instead of sugar, what good a coffee would it be, right? The same analogy can be used while Forex trading in Philippines. When you try to trade without having a powerful strategy, the outcome will be worse than having salty coffee! A Forex trading strategy gives you direction, goals and illuminates the path ahead, so you can walk down without tumbling. As a currency trader, you will find yourself in a field that is incredibly flexible. 

Novice traders can implement simple strategies while the experienced can work with complicated approaches - and both can see stellar profits!
 

Be it a rigorous, time-intensive approach or a calm, long-term plan, you can choose from a variety of Forex trading strategies, and here are the 6 best ones: 

6 Forex Trading Strategies to Try in 2019

1) Trend Trading: Undoubtedly one of the most successful Forex trading strategies in practice today, the trend trading approach requires immense amounts of patience, but pays off big-time. Just like the name suggests, you trade the trend. With this approach running, you will have to study trends as they rise and fall. What makes trend trading challenging is that you have to employ analytical methods like technical and fundamental analysis, to read market changes and make accurate calls. Aspects like trend momentum, strength and the general life of a trend have to be measured. 

These points will let you judge how viable a trend is and measure the value it carries, allowing you to invest wisely and make the most out of each trade.
 

2) Price Action: Price action is a trading strategy employed by a number of Forex traders due to its easy-to-use nature. By studying the movement of price value, you get to gauge its credibility. With a keen eye, you can understand what's influencing the bulls and the bears of the market and accordingly make your trade. A bullish Forex trading market means you should buy, and a bearish one indicates a selling trend. A number of indicators and methods like candlesticks, support/resistance charts can be used to analyze the trade. 

What makes the price action approach so favorable is that you can use this on markets that are volatile, stable or ranging - pretty much anywhere!
 

3) Counter-trend Trading: Known for the tremendous success rates, the counter-trend Forex trading strategy can be just as confusing as it is viable. Traders often employ this solely out of a reliance on that success rate! Trend reversals are banked on in this approach. Counter-trend trading is times more complicated than trend trading because predicting trend reversals is a difficult task and involves rigorous analysis.
 

4) Breakout Trading: Trends are everywhere while Forex trading in Philippines; either they are forming a new, or breaking out. The breakout trading strategy sees traders enter exchanges just when the market is breaking out of a new trend. In this emerging trend, if the price is seen moving beyond the resistance level (breaking out of it) a bigger hike can be expected. Likewise, if the support level is broken, it should be acknowledged that selling is the best move.
 

5) Range Trading: As a range trader, you enter the Forex trading markets with an assumption that the currencies you are working with will hold stable values for a certain time period. Keep two points in mind - the point where a seller sells, and a buyer buys; these price points are the extremes between which a certain currency value is expected to be in. The supply and demand ratio is one of the key factors affecting said price points, and as an adept trader, you will have to be aware of the current economic state of the currencies you are trading.
 

6) Scalping Strategies: Scalping is one of the most profitable strategies implemented while Forex trading in Philippines, but rigorous all the same. An incredibly short-term trading strategy, the trades last only for a few minutes tops! Scalpers have to work many trades a day, each lasting from seconds to minutes, and make small profits. Don't be misled that the short nature of these trades is synonymous with lack of profit. 

As a scalper, you will make small profits, but this will all add up to one large sum at the end of a day - which is the time limit for every scalping trade!
 

The coming years are very promising for all those participating in Forex Trading in Philippines. Profits lie in waiting, and with a strong strategy to work with, you can see consistent victories. Come sign up with WesternFX today, and strengthen your Forex foundation. With our experts to help you through all your trades, success will come by in no time! Call us today and our executives will get you started in a jiffy.