Wednesday 24 April 2019

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
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.

Tuesday 9 April 2019

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
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! 

Tuesday 2 April 2019

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
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!