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.

3 Reasons Why Forex Trading Can Lead You to Big Money

The rumors you hear about Forex trading being a wealth machine are true to an extent. While indeed there are no shortcuts to getting rich, there definitely are riches for the taking! The foreign exchange markets have a huge trading value of about $6 trillion, making it one of the most profitable fields today. This fact alone acts as a strong lure and reels in thousands of traders. Many of these traders trade half-time, either after their day jobs or just as a hobby, and they go back home with a heavy pocket.
 

Forex exchange trading is a terrific market to thrive in, with opportunities surfacing daily. Done right, you can establish yourself as an expert trader and mint good money! 

 

Here are 3 ways for you to capitalize on the Forex goldmine:
 

Reasons Why Forex Trading Leads to Big Money

 

1) Study The Markets: Market knowledge is the first-most important requirement to succeed as a Forex trader. Profits only come later, your first few ventures will have to be focused on hitting the right market points. Spend ample time studying how the currency markets move, and what influences these movements. Be it global economical shifts or political factors, or social causes - only when you have a good understanding of these underlying elements can you expect to win at Forex trading in the Philippines.
 

2) Pick Your Strategies Wisely: Most novice traders fail because of the lack of few good Forex trading strategies. Choosing a trade plan in itself is an art! You have to keep everything from your expectations to the timeframe, to the outcome in mind while strategizing. A simple example would be that small-scale strategies like scalping won't work on week-long timeframes, and vice-versa. So when you plan to, take all the affecting (currency, timeframe) and affected (profits, losses) factors into consideration.
 

3) Manage Your Capital: The ground reality is just so simple - no money, no Forex exchange. Without having enough capital, you can't place trades. Money management is a skill that will come in handy till the very end. "Risk only what you can afford to lose" - that's what every professional says, but to lose money, you need to have money. Play it safe with your investments and don't go overboard.
 

Cement yourself as an established trader, and see recurring profits while Forex trading in Philippines! Call WesternFX today - the world's leading Forex broker, and rise to the top equipped with the stellar means we provide. Foreign exchange markets today are incredibly profitable, and with our backing, you can mint good money!

How to Get Started in Forex Trading in Philippines 2019?

Getting started with any field is often going to be messy. Mostly because of the initial stages of confusion and wrong choices sabotaging your goals. When it comes to Forex trading, getting started is very easy, on paper; all you need is a little initial investment, a good trading platform and some basic trading knowledge. After a slightly shaky start, you will witness the trades getting tougher and the markets, tighter. Somewhere between your first few trades and the far end of your last ones is where the difficulties lie!
 

To have a successful run as a Forex trader, you will need to hone yourself from the very beginning. 

Here are 4 simple tips to get started off:
 

Forex Trading Tips for Beginners

1) Understand Your Goals: To get the best start while Forex trading in the Philippines, always keep a goal to work towards. This can be big or small, but so long as it is achievable, you can set a target and have something to drive you ahead each day! Several Forex players go about aimlessly and after a point, find themselves lost. Keep a weekly or monthly target to achieve, and work rigorously towards it.
 

2) Pick Implementable Strategies: It is no shame that when you're starting off, some Forex trading strategies go over your head. Trying to play the trend and implementing a plan you know nothing about will only lead to expensive monetary losses. Take things in a simpler manner; try easier strategies that you're more comfortable with. Complexity can be imbued with time and experience. 
 

3) Always Draft Out Your Trades: Before you actually conduct a trade, plan the outcome and the road you will take to reach the said outcome. The clearer the idea in your mind, the easier it becomes to implement good Forex trading strategies and see success.
 

4) Demo Practice Before Going Live: Avail a Forex demo service from your broker, test out your strategies on it and try a demo trade before doing the same thing on real-time markets. Demo Forex trading will give you the much-needed hang of Forex markets.
 

This will give you a great start while Forex trading in Philippines! A humble beginning is the best one; without aiming too much at grandeur, shift your focus more towards betterment and watch the magic happen. Get yourself the globally renowned Forex expert - WesternFX, and commence on the right foot! Our professionals will provide you with all the requirements you need, from demo platforms to real-time trade indicators, and we will ensure you take off majestically.

Tips to Survive and Make Profits in Forex Trading in 2019

The first few steps are always the most difficult ones. In a field as volatile as Forex trading, there are always risks that can topple your trades and bring in catastrophic losses. As a beginner, there is much you are unaware of and a plethora of scenarios you have no exposure to! Currencies all around the world are bound to face disruptions in their value. Success always comes at a cost of time, effort or money; and in Forex, it's all three!
 

With these 9 stellar steps, you can experience the perfect start and embark on a successful Forex trading journey:
 

Tips to Make Profits in Forex Trading 2019

1) Get Started with Demo Practice: Before even thinking about going full-time with your trades, ensure you have enough practice. Forex demo accounts give you the necessary means to learn how to conduct a trade and try out different strategies. Even professionals demo trade from time to time, to hone their strategizing skills. Starting off, stick with demoing your approach and make sure you know the basics of Forex, and how to operate the trading platform. The knowledge of both these elements is incredibly important if you want to thrive in currency markets!
 

2) Keep the Research Up: Never stop learning, that's the key to winning at Forex trading in the Philippines. A market as volatile as foreign exchange keeps changing. There are always new trends and new methods you can pick up. Without research, you will find yourself lost in currency markets. Forex has a number of elements like strategies, signals, charts, etc. that you will have to be aware of before making a trade. When you spend ample time studying, these things can be picked up easily.
 

3) Avoid Impulsive Trading: Keep emotions at bay, they have the potential to ruin a perfect trade. When you let yourself be governed by emotions, your rationality goes down and the calls you make thereon become increasingly drastic. This eventually leads to overtrading, which is known by everyone to be the prime cause of losing money in Forex. Fear, greed and confidence can effortlessly topple your trades. The simplest way to avoid this is to come to the understanding that some trades can't be won, and some losses have to be incurred.
 

4) Learn to Strategize: The art of drafting Forex trading strategies is something you have to know as a currency trader. Starting off, strategizing will seem difficult with so many elements involved. However, over time as you learn the various aspects of Forex trading, your strategy will start reflecting on it. Right from entries to stops to exits, everything has to be thought of carefully before implementing a strategy.
 

5) Stay Updated with the News: This doesn't mean you have to become a news trader, but reading the news and staying abreast of current economic events always helps while Forex trading in the Philippines. The global economy is a volatile element; changes can happen to it anytime! The news covers the major economic happenings and allows you to make decisions based on facts rather than assumptions.
 

6) Always Take Small Steps: Start off small, there's no shame in that. You don't have to live with the belief that hurriedness is required to succeed at Forex trading! The profits are going nowhere. Take small steps initially, be it in aspects of investment or just in general. Traders often end up over-committing to trades and to Forex trading as a whole, only to find themselves mentally and monetarily burnt out!
 

7) Find Your Unique Trading Approach: As a trader, you have your own persona. This means that everything from strategies to currencies, you will have a selection that goes best with your trading mindset. Find this in yourself and watch you grow tremendously as a trader!
 

8) Get Yourself a Reliable Broker: Having a reliable Forex broker by your side is important to succeed in the long run. Good brokerage is becoming increasingly difficult to find today! A reputed broker will provide you with all the essentials and make sure you have all the necessities required to trade.
 

9) Don't Let Losses Put You Down: Learn from losses instead of letting them put you down. Not all trades can be won, that's just how Forex is. While you might lose some money on the way, let that be a learning lesson instead of a depressive episode.
 

As a novice, you have much to learn before you start minting profits while Forex trading in Philippines. To make sure the erratic markets here don't eat you up, the assistance of an established broker is important! Sign up with WesternFX today, and avail our world-class brokerage. With an arsenal of Forex solutions at your disposal, you will get everything from trading platforms to strategies to Forex demo accounts! Call us now to know more.