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!