Important economic factors that govern the Forex markets

Beginners seldom understand the importance of learning what makes the Forex markets function - the underlying economic factors! Foreign exchange, a financial market valued in trillions today, allows traders to profit through the exchange of currencies. And this exchange is possible only because currency prices go up and down. Without their fluctuation, prices would be stagnant and exchanging currencies would be impossible. 

There are number of similar factors that cause the Forex markets to move erratically, making it both risky and lucrative. As an adept trader, having knowledge of these factors will help you place profitable trades. 

Forex Trading Strategies

Here are some important factors that influence the Forex markets: 

1) Interest Rates: 

Every trader has to look out for interest rates. They are essentially set by a country's central bank to control investors' affinity towards their markets. If interest rates are high, the chances of investors favoring their currency go up. Similarly, if the banks feel that they need to bring down the number of exchanges, they lower the rates. 

2) Inflation: 

A global phenomenon, inflation governs a lot in Forex. When a country has products that are constantly getting hiked in value, foreign investors are less likely to invest in it. If inflation is constant, a country's currency is bound to get devalued. 

3) GDP: 

A country's GDP is used to measure the value of its goods and services. This includes government expenditure, business spending, private expenses and the overall expenses laid out by a country as a whole. A healthy GDP indicates that a country's economic value is stable and its currency will play out well in the markets. 

4) Economic Events: 

Economic events can range from elections to changes in fiscal policies - and all of them influence the Forex markets. You will have to devise your Forex Trading Strategies keeping these events in mind at all times. Novices often enter trades without any knowledge of a country's economy and end up losing big money.

5) Retail Sales: 

The strength of an economy can also be measured by retail sales. When a country's economy is healthy, customer expenditure will be consistent and even incremental at times. A constant study of this will help traders decide if a country's currency is worth investing in. 

Open a Forex Demo Account in Malaysia and gain gradual mastery over currency trading. Difficult, but far from impossible, profiting in the Forex markets will happen swiftly with our experts by your side! Reach out to WesternFX today and equip yourself with our stellar strategies and trading platforms. See your Forex trading career take to the skies - call us! 

6 Things To Keep In Mind While Hedging In Forex

Hedging is one of the most incredible Forex trading strategies. Implemented well, you will be able to cut your losses and balance them out with profits seamlessly. However, the catch here is that hedging requires a lot of research and adept implementation. 

forex demo account

Even knowledgeable traders struggle with understanding the nuances of this approach. With a good amount of time invested in learning, mastering this method won't take too long! Once you know how to hedge trades, loss management will become immensely easy and you will able to see a stellar increase in profits.

Here are 6 tips to hedge better in Forex:

1) Novices Shouldn't Try It: 

Hedging isn't a method that you can master simply by seeing someone else do it or by understanding it theoretically. A lot of practice is required to hedge successfully. To start off, try hedging trades on a Forex demo account. Once you are comfortable with demoing this approach, you can begin employing it on live trades.

2) Finding A Compatible Broker Is Important: 

Not all brokers offer the option to hedge. And not all brokers are equipped with the experience to help you hedge properly. Before you start trading, find a reliable broker.  

3) Employ Trading Robots: 

Hedging is something that happens very quickly and to manually carry it out will be risky. However, technology has developed incredibly, allowing traders today to automate their exchanges. With trading robots, also known as expert advisors, you can automate your trades and hedge safely.

4) Time Your Hedges: 

If hedging worked on all timeframes, every trader would be able to cut losses and boost profits. The catch with hedging a trade is that it has to be done across the right timeframe. If you employ this strategy without proper timeframe analysis, you will only end up losing more money than usual! 

5) Patience Is The Key: 

Hedging is the simple art of placing a trade opposite to the one you're losing. While this might sound easy to do, implementing it is very tricky and risky. You will have to wait for the right opportunity to surface, and impatience will only serve as an impediment.

6) Evaluate Your Methods Continuously: 

Everyone makes mistakes, more so when they trade Forex. This is why evaluating your methods is necessary. To perfect hedging will take time and a lot of continuous improvement. 

Open a Forex Demo Account in Malaysia today and start mastering the hedging approach. Our experts at WesternFX will equip you with a top-tier platform that augments your trading skills. Work with us today and see unrivaled success in your Forex ventures!

Why Being Patient Is Better Than Trading Relentlessly In Forex?

No trader gains a complete understanding of Forex right off the bat. A market valued at trillions of dollars doesn't reach such heights overnight! To get a piece of this pie, traders need to put in long hours of research and practice, and even after learning Forex trading thoroughly, exchanging currencies on volatile markets isn't an easy job. Several well-learned traders have lost huge sums to erratic market shifts! One can never be careful enough in the Forex markets. 

forex demo account

As a Forex trader, you will have to develop many skills, and the most important of them is patience. Critical to winning trades and climbing the Forex trading ladder, patience alone can help you avoid a number of expensive losses. When you start off trading currencies, the hunger to win and profit will be intense, and how you channel this drive is what will make all the difference. 

The profitable few are able to draw a line between passion and greed; they exercise incredible patience and only take trades that are wholly viable. An inexperienced trader on the other hand, will trade without preparation, take exchanges impulsively and employ impatiently-devised Forex trading strategies.    

Why You Need Patience To Trade In The Forex Markets?

Being patient always pays off. In a domain as intensive as Forex trading, you will be tempted to take the many trades that come your way, but none of these will return what you invest! While it remains true that when an opportunity presents itself, you should capitalize on it, said opportunity should be viable. And patience helps you land exchanges that are amply profitable! Running behind quick money, traders partake in exchanges without any sort of preparation. 

Economic shifts, political events and social happenings all play a vital role in determining how currency markets behave. This is why traders need to have patience; patience to analyze said factors, measure the viability of a trade, prepare for if and when things to south, and have the backing of solid Forex Trading Strategies! As a Forex trader, there are a number of things between you and profits, all of which will have to be mastered through skill and patience. 

While overnight victories are every trader's desire, the markets aren't lenient enough to let traders profit that soon. To master indicators, charting, trade analysis and the many other elements of Forex trading, practice and research is of paramount importance. Haste makes waste, and in the Forex markets, you always stand a chance of losing big money. So settle down and prepare for a long ride! Patience will take you a long way in Forex, towards unparalleled profits.

Open a Forex Demo Account in Malaysia today and start honing your patience! Sign up with WesternFX today and avail our world-class demo trading solutions. We will provide you with a stellar demo trading platform and give you excellent guidance. Get started today, call us!

Managing Risks While Spread Betting In Forex

A risky but worthy ordeal, spread betting can pay off very well if you know how to approach your trades. However, the catch here is that you stand a good chance at losing money, just as you do at profiting. The reason behind a majority of these risks is because of leveraging trades. Forex trading allows traders to make use of leverage, which is essentially money borrowed from brokers in order to hold positions of higher monetary value. 

However, when a leveraged trade is lost, the borrowed money is lost as well - and the cumulative sum of this is incurred by the trader. 

Forex Demo Account

This potential of losing more money than invested makes spread betting a very risky ordeal in Forex. To make good returns while keeping the losses minimal, risk management is essential. 

Here are some simple steps to manage your risks in a healthy manner:

1) Leverage Minimally: 

Leverage is truly a wonderful provision, but if you over-leverage or are very callous while working with this borrowed sum, you will incur heavy losses! Several Forex traders are able to multiply their profits by huge amounts when they leverage with caution. Always do your fair share of market research before playing around with leverage. 

2) Stay Aware Of Economic Happenings: 

Economic, political and social factors affect the currency market deeply. As a Forex trader, you will be subjected to a lot of risks stemming from these factors. Hence, the need for staying adept and being aware of what's happening around you. When you're abreast of how the currency markets are behaving and what's causing said behavior, you will be able to see stellar results in your exchanges. 

3) Plan Your Trades Thoroughly: 

Planning only one or a handful of aspects isn't going to be enough to see victories in your exchanges. Everything from the currency pair selected to the strategy chosen, to the entries/exits have to be planned immaculately.

4) Work With Stop-Loss Orders In Place: 

Always have stop-loss orders to pull you out of trades. Stop orders help you minimize losses, secure your capital and live to trade another day, by cutting you off from a trade the moment losses are seen! 

Always start off with practice - open a Forex Demo Account in Malaysia today, and learn from the bests at WesternFX! We house incredibly talented minds, who will provide you with the guidance you need to place winning trades, and the best of trading facilities. Work with proven Forex Trading Strategies and trade on award-winning platforms - reach out to us today to get started!

How To Minimize Your Forex Trading Losses In 2019?

Every trader wants to earn big and lose small, but it's easier said than done. Given how the Forex markets are scarily volatile, losses are the more natural outcome to a trade. Several traders even with a thorough plan, end up losing many a times due to the markets being so unpredictable!

Forex Trading is a profitable domain and there's no doubt about it. And the profit aspect of Forex tends to overshadow the losses. Even small mistakes can lead to big repercussions while exchanging currencies!

Forex Trading In Malaysia

Here are 5 easy ways to make sure your profits are maximized and losses are minimal:

1) Know What You're Getting Into: 

The best way to ensure you don't lose money is to know what you want from your trades. Different traders have different expectations, even if they're monetary, knowing your end outcome will help you define the methods you want to employ in order to get there! This sort of clarity is what helps avoid losses. 

2) Pair Up With A Reliable Brokerage Firm: 

Picking Forex brokers are where many struggle. In the foreign exchange markets, there are a number of brokers available today but not all are skilled. Your job as a Forex trader is to do ample research and find out which broker best fits your requirements.   

3) Start Off Small: 

It will be incredibly tempting to invest big under the pretext of winning bigger, but your start should always be small. Trying to overinvest will backfire grandly as you go plummeting into losses. No matter how much capital you have, or how lucrative a trade seems, draw the line.

4) Leverage Wisely: 

Leveraging is tricky, but very profitable when you do it right. The risks leveraging brings are massive - leveraging too much on a losing trade will leave you incurring hefty losses! However, when planned right, a leveraged position will augment your profits. 

5) Don't Treat Forex Like A Casino: 

Forex trading, at the end of the day, is no different than a career. You have to treat it with the same respect if you want to make a good winning! Many traders mistake currency trading to be a casino of sorts, following which they overinvest and lose all their money. 

Reach out to WesternFX, one of the leading Forex Brokers In Malaysia, and avail our world-class brokerage today! We understand the many complications currency exchange carries, which is why our services are tailor-made to fit our traders' needs. From the latest Forex trading strategies to top-tier trade platforms, we will equip you with nothing but the best! Call us today to get started! 

Questions Every Aspiring Forex Trader Should Ask Oneself

When you see Forex traders who mint big money on the regular, wanting to be in their shoes is a natural thought. But do you want to be a Forex trader or just a rich chap? That’s the more important question to ask yourself. There is a difference between being successful and being a successful Forex trader. Forex trading is a field that requires months of practice and experience before profits can be seen. Many novices make the mistake of getting consumed by the idea of money and delving into currency exchange with no practice! Though money is the primary motivator, it shouldn’t be the only reason you start trading.

Forex Trading

Here are some important questions to ask yourself if you’re an aspiring Forex trader:

1) Do You Have Clear Expectations From Your Trades?

A goal has to be established before you can think of trading. Wandering aimlessly and making namesake trades will get you nowhere! Everything from your Forex trading strategies to the indicators needed has to be planned thoroughly, but most of all, you have to establish what you want from your trades. 

2) Are You Willing To Spend Time Learning?

Learning today will help you earn tomorrow. Forex Trading, being the research-intensive domain that it is, requires that you spend a lot of time researching market trends, economic conditions and currency viability. If you’re in it for the long haul, willingness to learn is one of the most crucial things. 

3) Will You Treat Forex Like A Gamble?

Forex trading isn’t purely luck-based. Unlike gambling, currency trading requires a lot of analysis, research and nick-of-the-moment adapting! If you plan on treating Forex like a gamble, you will find nothing but losses in your path. Only when you respect the difficulties that currency exchange carries will you be able to adapt to them.

4) Do You Have The Discipline And Patience?

Many a trader has tumbled down due to impatience. While profits can be made in big amounts, they aren’t seen overnight. A lot of work goes in, be it on a small trade or a big one, and only with dedicated efforts can you make money. 

Once you have a positive answer to these questions and are sure that you belong in the Forex markets, all that’s left to do is avail the assistance of a knowledgeable Forex broker! With the backing of our experts at WesternFX, you will have everything from platforms to Forex Trading Strategies at your disposal. Cement your standing as a top-tier trader with our brokerage; call us today to get started! 

Forex Demo Trading vs Live Trading - Why Both are Necessary

Demo trade, live trade, this battle just adds to the preexisting pile of confusion you carry as a Forex trader. As a Forex trading beginner, traders are often confused if they should demo practice first or start trading on a live account right away. The reason behind this confusion is simple - a Forex demo account doesn't account for real-time risks, which demo traders are left unaware of. On a live account, you can place trades without the safety of a demo platform; meaning, the risks are all around you and you get to learn first-hand. Both methods have their own pros and cons, but as a newbie, differentiating between them is easier said than done!
 

Here are some points for you to keep in mind when this particular dilemma strikes:
 

Why Both Demo & Live Trading Account are Essential

Demo Trading Is Convenient When Starting Out: Beginners don't have much leeway as they start. A live trade is too volatile to learn on! There's a variety of information to be consumed and this gets overwhelming. On a Forex demo account, you need not worry about the market risks getting in your way. Trade all you like with virtual money, on a simulated environment designed to show you how the markets work!
 

Emotional Control Is Learnt Better While Demo Trading: Losses and risks are a part of Forex trading, and this is an expensive lesson when learnt. Not having the necessary emotional control can cost you a lot while Forex trading in Malaysia. Getting too scared or greedy, or confident, has led several Forex traders to their downfall! On a demo account, you'll be able to hone emotional control steadily since the entire environment is virtual, with no repercussions to fear.
 

 Live Trading Helps Manage Risks Better: While demo trading has said advantages, live trading helps manage real-time trade risks better. You can't learn risk management with virtual money - there's no risk involved in that! On a real-time trade, however, there is a plethora of risks to stay wary of and learn to avoid.
 

Trading On A Live Account Gives A Better Market Feel: No matter how much you trade on a Forex demo account, it's ultimately just a practice. To get a good grip over the markets, you have to trade live. Real-time trades give you the full display of how the chaotic world of Forex trading is.
 

Before you start Forex trading in Malaysia, you will have to decide your training method. Both demo trading and live trading are fruitful, it all comes down to preference. And at WesternFX, we have all the provisions you'll need to get started with Forex trading! Reach out to us today and we will equip you with the best of facilities needed to learn Forex thoroughly.

The Many Pros and Cons of Leveraging in Forex Trading

The money borrowed from Forex brokers in order to hold high-value trades is called leverage. As a Forex trading beginner, you might not have enough capital to invest in a $10,000 trade. But with some leverage lent by your broker, you need only invest a quarter of that amount with the rest being covered for you! What this does, is essentially lets you profit without risking too much of your trading capital. When you win a leveraged trade, you will win massively!
 

There is a catch, however; leverage isn't all fun and games. Should it backfire, the losses you incur will be unmanageable. Consider this example, you want to place a very lucrative EUR/USD exchange of $10,000, but you don't have enough capital for it. So you borrow around $8,000 from your broker and invest the remaining $2,000 from your own pocket. Should you win this trade, you will win the full $10,000, meaning a whopping $8,000 profit. Now if you lose this trade, you lose $10,000 - that's the catch.
 

Pros and Cons of Leveraging in Forex Trading

Leveraging in Forex trading is a win-lose scenario, where if you win, you win big if not, you lose bigger. Leveraging has to be done with caution and in safe ratios; going overboard will lead to losses far beyond one's affordability! Here are some of the pros and cons leverage brings along:
 

Pros of Leverage Trading:
 

1) As a Forex trader, one of the biggest limitations you will face is in terms of capital. You might run out of money when a good trade shows up! But with leverage, that will never happen. Amounts as low as a few hundred dollars will be ample to fuel your high-value Forex trading deals.
 

2) There is no additional interest charges applied on the borrowed money! You can work with leveraged capital without paying a single dime more than just the money lent. 
 

3) The final, most evident benefit of leverage is that it exposes you to profit like nothing else. Even with small amounts of money, you can make mammoth returns on each leveraged trade.
 

Leverage Trading Cons:
 

1) A double-edged sword, leveraging improperly will leave you incurring losses irredeemable. The money you aim to bag will itself come back as loss!
 

2) There is no guarantee of safety with leverage. Even if you have stop orders in your Forex trading strategies, your trades can derail in a moment's instance.
 

As you spend a good few months Forex trading in Malaysia, you will gradually come to understand the subtle nuances of leveraging. From harrowing risks to jaw-dropping profits, a lot can be made, but to ensure you see more positives than negatives, you'll need the backing of a good broker! Partner up with WesternFX today. Assisted by our seasoned professionals, you'll master leveraging swiftly. Call us today to know more! 

Pros and Cons of Trading on a Forex Demo Account

Practice is essential to growth, and growth is of paramount importance while Forex trading. Foreign exchange is an incredibly profitable trading market but by no means an easy one. Of the thousands of aspiring traders today, only a handful manages to make it out successful. They do so because of untiring practice. With months of dedication and relentless research, traders are able to perfect Forex trading strategies and work through risky trades with ease. But before they take the big steps, all the smaller ones are taken on a demo trading platform.
 

A demo trading platform is a virtual account where you get to practice trades with virtual money. Since everything is simulated, the demo platform is completely risk-free. It's the perfect starter for newbie Forex traders. Though designed to help traders, many professionals believe demo trading to be counter-productive. Several traders feel that while a Forex demo account provides the physical practice, it fails to ready a trader psychologically. One might believe it's all a matter of perspective. Even professional Forex traders use demo platforms from time to time, for testing out strategies.
 

Pros and Cons of Forex Demo Trading Account

 

There are always two sides to every coin, and two sides to demo trading as well:
 

Demo Trading Account Pros:
 

1) On a Forex demo account everything is virtual, and hence traders need not fear any real-time market risks haunting them. A typical live trade consists of several risks due to the volatile nature of Forex trading. Facing these risks as a beginner will be harrowing! But on a demo trading platform, you will be able to learn how to trade without fearing such risks.
 

2) You can learn how to draft solid Forex trading strategies on a demo platform. Several professionals follow this tactic to measure their strategy's viability.
 

Cons of Using Forex Demo Account:
 

1) No amount of demo trading can prepare a trader to face a risky real-time trade. In a live trade, there are several elements to consider, and a Forex demo account can't replicate these in the simulations.
 

2) Demo trading doesn't prepare a trader to face trades psychologically. Since demo platforms come with virtually infinite capital, traders tend to get softened by it. In real-time, however, your resources will be finite and the same risks taken on demo can't be taken here. 
 

The best way to know if demo trading is for you is to try it out! Reach out to WesternFX today and get a free Forex demo account. Experiment all you want and avail our experts' trading guidance side-by-side. Backed by proper assistance, you will blossom into a fine Forex trader in no time! Call us today to get started!

Principles of Leverage & It’s Applications in Forex Trading

If a trader had limited money to work with, stagnation would be reached swiftly. He/she wouldn't be able to make significant profits with limited Forex trading capital! In addition to this, several traders would go bankrupt trying to win risky trades with money they can't afford to risk. This is where leverage steps in. With this money borrowed from your broker, you will be able to hold positions of huge value, without having to shell too much of your trading capital. The profit potential unlocked by leveraging is unparalleled!

You can make huge wins without spending even half of your capital, but you can lose big too - which is what makes leveraging a risky ordeal.
 

Using Leverage The Right Way
 

Principles of Leverage in Forex Trading

Other than intensive research and risk management, not much goes into leveraging. The first step is to sign up with a Forex broker who provides a good trading account. The Forex trading leverage provided varies from one broker to the other; some provide 20:1 while some give 500:1. Similarly, the leverage depends on the investment size, its position and the asset value. To trade with leverage, a minimum capital requirement of 2% has to be met; this is called the margin amount.
 

If you want to trade $50,000 on a leverage of 50:1, you are required to have at least $1000 in your trading account. Another important thing to note is that, while Forex trading in Malaysia, a trader should always have money in their trading account. Should certain capital levels drop, you won't be allowed to trade. Only with leverage can a trader expect to see profits of significant value. While a normal trade might allow you to make small winnings, the big profits only come with big risks and big leverage.
 

Why Do Traders Fear To Leverage?
 

Several thousands of traders harbor a belief that leveraging is bad. There's a fine line of difference between bad and risky; leverage is risky, but in no way is it disadvantageous. In the hands of an adept trader, leverage will help him/her reel massive profits. Most Forex traders who fear leverage have either carelessly lost a lot of money or are blindly following others. Leverage allows traders to risk money that isn't theirs, thereby making Forex trading all the more liquid and viable.
 

Leverage can be good or bad, depending on how you wield it. It's a double-edged sword after all! With the right broker to guide you, you'll master Forex trading in Malaysia and make your way to big profits in no time. Sign up with WesternFX today and avail our world-class Forex trading strategies. Our experts will teach you how to leverage right, and ensure you make it to the top echelon.

4 Tips to Improving Your Forex Trading Decisions

Succeeding at Forex trading requires more than just a handful of indicators and a few strategies. When all the deals have been made, the outcome ultimately boils down to how quick and meticulous your decisions are. This doesn't mean beating yourself up over a few bad moves, nothing can be perfect in Forex. However, when it comes to the more crucial trades, you ought to make the best calls. Decision-making in Forex is a tough process. It has to be backed by experience, which only time grants. However, you will have to make apt calls even as a beginner.
 

Here are 4 tips on how to improve your trading decisions:
 

Tips to Improve Your Decision Making Skills in Forex Trading

1) Maintain A Trade Journal: A trading journal does a lot more than simply help record your trades. With a trading journal, you can keep a neat track of your deals and analyze them down the line. Improvement in Forex trading will have to come from your end! If you keep trading without any self-analysis in between, there will never be any growth. Get yourself a diary and start noting down how each trade went, what led to that outcome and how things can be improved.    
 

2) Observe Professional Traders: Professional traders who have reached the top haven't done so by getting lucky. While a hint of luck does help, it is mostly a skill that leads to success. With an eye on their trades and their trading life as a whole, you can get a good idea of how to better your approach and make decisions that are more profitable. Get a free Forex demo account for practicing your various trading strategies.
 

3) Trade With Patience: Patience is a mighty important virtue to have while Forex trading in Malaysia. Each trade you make has to be given time. Getting hasty will cloud your mind with worries of the outcome and will ultimately hinder you from growing as a trader.
 

4) Improve On Your Failures: Failing is a normal event while Forex trading, there is nothing despicable about it. Only when you don't learn from your failures does it become a problem. So make sure to keep improving your approach every time you fail!
 

If you want to profit while Forex trading in Malaysia, you will have to keep working on both your trades and yourself! With enough work put in, results will start surfacing gradually. Get yourself the backing of some of the industry's most seasoned experts - call WesternFX today! Our professionals will assist you through all your trades and make sure you walk out with profits. Reach out to us now to know more!

Experience Forex Trading Without Even Spending 1USD | Free Demo

Practical learning is times better than visual, theoretical learning. This applies incredibly well to Forex trading. No matter how many blogs you read and how many videos you watch, no learning experience comes close to Forex demo trading. A Forex demo account simulates real-time trades that currency players can learn from. Starting off, foreign exchange can be a challenge. Entering the live-trading markets without practice will be an expensive ordeal! Several traders lose big money to trades they aren't experienced enough to face. 

With a good amount of demo practice however, they will be adept at the currency trading basics and be able to hold their own against erratic market developments.
 

Is Forex Demo Similar To A Trade Simulator?
 

Demo trading platforms are completely different. A simulator comes with a few years' trading data as a preset, thereby limiting the flexibility. Demo trading platforms, on the other hand, simulate trades with real-time data observed in day-to-day trades. So on a Forex demo account, you will be able to make more realistic trades and learn how to approach the live-trading markets.
 

Working with past data will do you no good. As a Forex trader, you have to be aware of the current market conditions and be able to adapt swiftly. In a live trade, this might be difficult. Hence, on a demo trading platform, you will get to experience trades as they come and become adept at the currency exchange.
 

Advantages Of Using A Forex Demo Platform:
 

Learn Forex Trading for Free using a Demo Account

1) You can learn how to operate Forex trading platforms, which is something every trader needs to learn at one point. Platforms like MetaTrader4 are the ones you will be working on, and knowing how to use them will be a huge advantage. 
 

2) Though meant for learning purposes, demo platforms come with the complete collection of Forex trading currencies, allowing you to experiment to your heart's content. Having the knowledge of different Forex currencies prior to trading full-time will keep you prepared when a different currency pairs sees market traction.
 

3) There are no caps while using demo platforms; if you want to try demoing with a million dollars of virtual currency, you can go for it!
 

4) Since Forex demo accounts work with virtual money, you don't have to worry about losing capital to risky trades made while learning.
 

5) It allows you to measure how good a broker's customer service is. On a demo platform, you can ask for your broker's guidance and see if said broker is good for you.
 

Be it practicing Forex trading strategies or trying out currency exchange for the first time, a good demo experience is no less than magic! Get yourself a world-class demo trading platform today from WesternFX! With our stellar trading account to work on, you will master the art of foreign exchange in no time. Get a quote today, call us!

7 Tips To Help Forex Trading Beginners Find Profitable Starts

Feeling overwhelmed is just one of the many heavy sentiments that goes through the mind and heart of a beginner. Forex trading is a field where even the adept few have a tough time, so in all obviousness, when a beginner joins the game, the road ahead is going to be riddled with difficulties! The important aspect of Forex is that many beginners fail not due to their technical ignorance, but due to a lack of preparedness.
 

Learning the various technical nuances of Forex trading right as you begin is a tough task, which is why sticking to some basics is enough in the initial stages. However, it is the smaller mistakes like lack of stops, getting greedy and having unrealistic expectations that lead to traders seeing early downfalls.

Here are 7 tips to help you find the right start, and grow thereon as a successful Forex trader:

Tips for Forex Trading Beginners to Find Profits

1) Do Your Research Well Before Trading: Last minute preparations aren't the right approach to Forex trading. Predominantly a knowledge and analysis-intensive field, foreign exchange is a domain which works on data. Aspects like currency value fluctuations, global economic movements, trend momentum etc., are some of the many determining factors in achieving Forex trading success. In order to understand the underlying markets movements behind trends, a good amount of research has to be put in.
 

2) Practice Thoroughly On Demo Platforms: Honing your skills can't be done on live-trade markets, they are just too volatile. You will need a gentler environment, one that is flexible enough to let you learn extensively but also doesn't put you against big market risks. The best way to go about this is by learning on a demo platform. These Forex demo accounts are designed to provide traders with a simulated world where they can trade with virtual capital, thereby limiting any risk repercussions, and also letting you explore the vast nature of trade’s first-hand, while tinkering your Forex trading strategy to perfection.
 

3) Stay Updated With Current Market Events: As a Forex trader, it is substantial to know what goes on around you in the markets, because you're a part of them. Economic events, social disruptions and political happenings affect the behavior of Forex trading markets and cause currency value fluctuations. To see success amidst all this volatility, knowledge is an indispensable requirement.
 

4) Avoid Overtrading: Money is indeed wonderful, so much so that no one can get enough of it. There is always a more expensive car or a phone you can get, even if the one you have serves its purpose! Getting greedy in Forex trading has carried many to their staggering downfall. When you start seeing good profits, it is natural to want to go a step further and make even more. If you do succeed at it, well and good; the problem is when your actions backfire and you lose more than you made! Avoid this altogether, don't overtrade.
 

5) Keep Your Expectations Realistic: "I placed a profitable trade, I should be making big profits." is a wrong mentality to have as a currency trader. With such a tremendous profit potential, it is natural that expectations will start piling up. However, unrealistic expectations will only lead to you feeling let down when what you wanted to happen doesn't! The $6 trillion market value doesn't have a label saying "Every Forex trader will make good money." Give your best shot at every trade, small and big, and once placed, profiting or not shouldn't be your worry!
 

6) Take Losses As A Learning Experience: Losing money is natural, and is known to be one of the greatest mentors in Forex. Bad trades might happen as a result of your mistakes or the markets behaving erratically. When money is lost, all isn't. Divert your focus towards the positive aspects of it, no matter how bleak, and use the losses made to push you further towards improvement.
 

7) See Your Trading Plan Through: Many traders give up on their Forex trading strategy before it can get to work! A Forex trading strategy isn't going to bring in expected results as soon as it's placed; market conditions have to be right and trends should be in accordance. Only when a number of parameters are met can you expect to see profits. However, this doesn't mean you change strategies midway! Doing so only takes you away from what could have been a profitable trade.
 

Worry not, though Forex trading is an intensive domain, you will find your way around to success in no time! Don't let the hesitation keep you from reaching the stellar levels you're meant to. Join hands with WesternFX today, and take off to starry heights! Our experts will provide you with incredible guidance through all your exchanges, and make sure you grow into a fine Forex trader at the end of the day. Call us today and let's have a talk!

A Brief Guide on Various Forex Trading Strategies in 2019

The modern trader's favorite investment market, Forex trading is today, one of the highest-valued financial grounds for traders. A trading value of $6 trillion floats around, with thousands of traders trying their hardest to get a bite! Despite of the fact that foreign exchange sees crowds in mammoth numbers, the number of players who make it out successful are but a few. Some trades are lost due to sudden market shifts, while some trades fall prey to losses due to an inefficient strategy. At the end of the day, succeeding as a Forex trader is impossible without having a strong strategy.
 

A good Forex trading strategy should cover the A-Z of a trade; everything from trends to loss prospects has to be kept in mind while strategizing. 

Here are 4 Forex trading strategies that you can start implementing right away, and see a massive improvement in your results:
 

Various Forex Trading Strategies Traders Implement in 2019

1) Trend Trading: One of the most dominant approaches to Forex trading in Malaysia, trend trading is the bread and butter for thousands. As a trend trader, your job is simple in description but complicated in application. Market trends form due to economic shifts and new political developments, you have to catch these trends by employing technical or fundamental analysis, and place trades based on the information obtained. Trend trading when done right can be an incredibly rewarding experience, both knowledge-wise and money-wise!
 

2) Breakout Trading: Put simply, breakouts occur when a price breaks out of a particular range. An increase in volume usually causes breakouts, which is what makes this strategy all the more risky. Without proper risk-management, banking on this trading strategy can lead to piling losses! Similarly, the right set of indicators is needed to study breakouts and place trades accordingly.
 

3) Scalping: Scalping has a very simple approach - place trades on smaller timeframes that are bound to see market movements and trends, make small profits, and repeat throughout the day to make huge compounded wins!
 

4) Pullback Trading: A pullback is when a price drops from a particular value and then continues to see a larger rise. With a pullback trading strategy in place, you can place trades that will eventually fall, during which time a stop-loss order will protect you, and then when the trend sees a larger rise, capitalize on it.
 

Forex trading in Malaysia is a daunting challenge; the field is getting increasingly competitive by the day, and you will need the assistance of strong strategies if you want to see results! Talk with one of our experts at WesternFX and learn how to draft winning Forex trading strategies. We will equip you with the best of approaches, no matter how erratic the market is and see to it that you come through successful! Call us now to know more.

CFD Trading Vs Options Trading - Which Field is Better & Why?

One of the most flexible trading markets in the world today, Contracts for Difference (CFD) is a domain ready to disrupt the trading society. What makes CFD trading unique and so sought after is that firstly, you don't have to own an asset to trade it, you merely speculate on the change in its value, and secondly, you can do this for currencies, options, indices, stocks and a variety of such financial commodities! 

There are rewards in plenty, and risks plenty more, which is what makes trading any asset, be it stocks, currencies or contracts, a very risky endeavor.
 

What is CFD Trading?
 

Choose the Best Among CFD Trading vs Options Trading

 

Put simply, contracts trading are the exchange of a financial commodity between a broker and a trader did across a pre-established timeframe decided by the opening and closing time of a trade. In essence, a CFD is an agreement between the broker and the trader, one that requires no actual owning of said asset. Any profit or loss made is a result of the commodity's movement.
 

This nature of CFD, which lets you profit from simply speculating is one of its biggest advantages. Let's see an example of its beneficial nature - assume that you want to buy 20 shares of an asset valued at $10 per share, doing this on stock trading grounds would lead to you purchasing the 20 shares for $200. However, with a CFD agreement, you need only pay a percentage of the actual share value. 

So with 5% charged, you will only be paying $0.5 per share and be able to buy the 20 shares at just $10! This is one of the many benefits surrounding CFDs.
 

Why Trade CFDs?
 

Trade on Falling and Rising Markets: The biggest advantage CFD online trading in Malaysia has, is that it allows traders to profit from markets that are rising as well as the ones that are falling. This means that you are immune to erratic economic shifts that disrupt growing trends and push them downwards. So long as you analyze the markets properly, falling trades will be a friend just like the ones going up are.
Flexible Contracts: There is no trading cap you are supposed to obey. As a CFD trader, the contracts are flexible and lot sizes are provided in varying sizes. 

If you are new, you can begin with smaller lots; as you progress the size can be incremented and you can start making bigger trades.
 

Hedge Trades: Hedging can help you greatly when you place risky trades and are on the verge of losing a big chunk of your capital. Since CFD trading in Malaysia can be done both ways, you can hedge your losing trades by opening another position in the opposite direction! This guarantees that either one of the trades will win or the one that's lost will be compensated for by the other. 
 

Trade on Margin: Margin trading makes CFDs so very lucrative! To put margins simply, opening a trade contract for a particular asset will only cost you a margin of the original value said asset carries. This makes CFD trading lighter on the pocket but doesn't reduce its profitability! 
 

What is Options Trading?
 

A derivative security, options get their value from parent assets. Options trading are the buying or selling of an asset for a fixed price before a specified date and this is done through an options contract. Options are of two types, call (buy) and put (sell) options. A call option lets you buy an asset at the price agreed upon, and a put allows you to sell the same. Once either of these options has been bought, your job as an options trader is to go long or short depending on your market speculations.
 

Benefits of Options Trading:
 

Cost-effective: Options trading can be very cost effective when compared to its cousin trading fields. Buying 100 shares of a $50 stock will cost you $5000 through normal means; with an options contract, however, you can purchase two $10 call options, wherein each call represents 50 shares, and the total would only add up to $2000! 
 

Relatively Less Risky: The margin and leverage provisions make options less risky when traded properly; keep in mind that this very leverage can backfire and lead you to losses! As a hedge and on nominal margins, however, options are times less risky than shares.
 

Healthy Profit Opportunities: When the investments are lesser than the returns, it is a clear case of evident profits. Options trading markets have a stellar profit potential in the hands of the right trader.
 

So if you are trying to decide between options trading and CFD trading in Malaysia, it ultimately comes down to preference! Both markets have a good trading value with ample profits for the taking. Still confused? Talk with an expert at WesternFX and know more! We house trading veterans, battle-hardened and ready to help you out with your queries. Call us today to get in touch!

6 Tips to Boost Your Forex Trading Strategies in 2019

The wealthy Forex exchange markets carry a trading value of over $6 trillion today, and thousands of traders are in the race to get their hands on this! Foreign exchange has grown to become a tremendously valuable field, with the competition ever-increasing. What ultimately takes traders to the profits they dream of is the efficiency of the Forex trading strategy they implement in trades. Chaotic, volatile and unpredictable, currency trades can get out of control in an instant. Only when backed by a well-planned approach can you expect to see even the most marginal of profits!
 

There are myriads of opportunities for traders to invest on, but without a good trading strategy, even the easiest of trades will slip out of your grasp. A trading plan is responsible for giving Forex players a clear idea of what is to be done; essentially, it serves as a backbone to traders. Many novices make the mistake of venturing into currency exchange markets without the backing of a solid plan, and needless to say, this seldom ends well.
 

Tips to Improve Your Forex Trading Strategies

Your trading career can see multiplying profits if you work with a meticulous strategy, and here are 6 ways to devise a sharp plan:
 

1) Keep the Starts Small: Before you start Forex trading in Malaysia, make sure your steps aren't so long that you trip over! One of the biggest reasons many traders see loss after loss is because they are aiming too high up. Driven by the desire to make hefty profits right off the bat, Forex traders overinvest, participate in bad trades and hold positions that they will eventually lose. If you want to ensure that your Forex trading career lasts long and brings in good profits, keep your starts small. 

Implement simpler strategies, invest in smaller amounts and let the smaller wins make your content! You can increment the capital you put in gradually, as you start getting more experience. 
 

2) Have Realistic Expectations: Dreaming is one thing, day-dreaming is another. While you are Forex trading in Malaysia, it is natural to want to think about making a lot of money and seeing swift success, but thinking alone doesn't do much. You will have to leave the castle you've built in the sky, come down and put in the ground work! Always keep realistic expectations, they help in two amazing ways - letting you focus on an achievable goal, and keeping your foot on the ground. Forex exchange is definitely an arduous task but in no way impossible. 

The struggles put in will be rewarded grandly! So keep a proper goal, and don't stop working towards it.
 

3) Prioritize Capital Management: How efficiently you manage your investment speaks a lot and will have a great impact on your trades down the line. In the rush of trading, Forex players forget to protect their money with the necessary means and end up losing hard-earned money completely to one bad trade! You will come across these catastrophic trades on many occasions, where the outcome is almost always bad. 

To protect yourself from such trades, you will have to be sharp and take the necessary money management measures and make it an indispensable part of your Forex trading strategies. 

Without enough capital in your trading account, even a small loss will leave you emptied and burnt! 
 

4) Don't Rely on Rumors: Only trust the news and proven statistics. In a market with thousands of traders around, rumors and myths are bound to cloud the way. Don't rely on them. You will misguidedly make wrong calls and end up losing a good chunk of money by taking the wrong turn! Precision and adeptness play an important part while Forex trading in Malaysia. Make judgments based on strong analysis and studies, rather than letting wrong whispers land in your ear. 
 

5) Avoid Getting Overemotional: Losing is natural, and you are not always responsible for it. Agreed that some exchanges could have gone better had you traded right, some trades went bad solely because the markets were erratic! Acknowledge the simple fact that you won't always win, and you will have a fresh perspective of the market.
 

6) Watch the Market Developments Keenly: Forex exchange markets always come up with something new, as an adept trader, you will have to be updated about what goes on. Study more than you trade, it's that simple. Always have an eye on Forex trading developments, be it economic, social or political factors that influence it.
 

Many capable traders have made a name for themselves while Forex trading in Malaysia, but none without a good Forex trading strategy. Be it a simple approach or a complex one, partner up with WesternFX today and back your trades with a solid plan! Our experts have ample experience trading currencies and will equip you with a stellar Forex trading strategy for your exchanges. Call us today and talk with us to know more!