4 Forex Trading Tips on How to Succeed as a Forex Trader in 2019

A daunting challenge, but definitely an achievable one, being a Forex trader can be incredibly profitable in 2019. What started off as a hobby for many has today become a career option. Known worldwide for the liquid markets it houses, foreign exchange can be the perfect trading genre for you to pick. Though many on the outset blindly assume Forex to be some portal to riches, it isn’t. To become an established currency trader is immensely difficult and the journey to the top is riddled with hurdles!
 

4 Tips for You to Get Started Right this 2019

 

Tips to Trade Forex in Successful Ways in 2019

1) Don’t Treat Forex Trading Like Gambling: Many Forex traders treat markets like a casino and expect each trade to bring in money! This is the first big mistake. While indeed profitable, there is no guarantee that you will always win trades. With unrealistic expectations come unbearable consequences! So respect trades and understands that victory is not a daily happening.
 

2) Always Trade the Trend: Trends are your friends, make this a motto. Going against trends does sound adventurous, but this isn’t going to help bag the win. To make good winnings while Forex trading in Malaysia, you will have to observe trends, catch them and ride them!
 

3) Don’t Let Emotions Get the Better of You: Avoid getting greedy, and don’t let fear take the wheel. What happens when you emotionally trade, is that your trading instincts and sense dull down, leaving you to trade solely on uneducated hunches. These trades will yield in losses and losses alone.
 

4) Demo Practice Before Going Live: The best way to be sure if you’re doing, is to demo it beforehand. Forex demo accounts let you trade in a virtual environment which is essentially risk-free and allows you to trade without fearing the consequences of a live-trade. Always demo your Forex trading strategy and practice before going live.
 

These 4 tips along with a powerful Forex trading strategy to back you up will take you to starry heights while Forex trading in Malaysia! With the elite professionals at WesternFX by your side, you can join the pro league of Forex traders today. Sign up with us and avail our world-class currency brokerage! We will equip you with the best of currency trading necessities and ensure you soar higher than ever!

Forex Trading Vs Investing in 2019 | Which is Better & Why?

Many tend to confuse trading with investing. While they are both approaches to financial markets, their mechanism varies. The goal always remains same in all genres of trading and investing, to walk home with profits.
 

To tell the difference, here are the main 4 factors to determine which is best among the Forex trading vs Investing?

Forex Trading vs Stock Investing in 2019

 

Trading Timeframe:

• As an investor, most, if not all of your calls, are for long-term profiting. Investing is done on timeframes that can stretch up to years! When you take stock market for example, there isn’t any overnight growth to profit from.

• A trader, however, can trade on short, intermediate and long-term timeframes. Some trades last a few minutes, while some go on for months. With either timeframe, the profits are incredible.

Capital Requirement:

• Investing is a process that typically sees a bigger starting capital than trading does. Since investors hold long-term positions, they tend to put in more capital to make up for the longer timeframe.

• Trading can be started with an amount as little as $100. This added up with leverage means that you don’t have to shell much capital starting off.

Potential Risks:

• The investing environment doesn’t see a risk factor as scary as trading markets do. You can invest in commodities and be sure of low risks because of the long nature of the investments.

• Trading, on the other hand, sees a huge amount of risks. You can invest $1000 and end up losing ten times of it your approach isn’t adept enough.

Professional Approach:

• Investors are concerned with long-term moneymaking. Once an investment has been made, it is allowed to mature and bloom into profits. This requires studying the stocks, watching over economic movements and staying abreast of latest developments.

• Traders are usually in the game for short-term profits. This doesn’t make the field any easy, however. To steer clear of the risks, traders have to be aware of global economic happenings and several such factors that influence currency values.

While different from head to toe, both the fields are just as profitable. With a honed approach and proper practice, you can see tremendous profits! Sign up with the ever-reliable broker WesternFX today, and master the art of investing and Forex trading both.

4 Easy Steps to Improve Your CFD Trading in Malaysia 2019

Typical financial commodities require that you own them and then trade, but not CFDs! A contract for difference is a derivative that allows you to trade a commodity without owning the underlying asset. From currencies to indices, you can speculate on the various financial commodities in the markets with a CFD. It is an incredibly fascinating and lucrative field for the curious trader in you! 

Unlike many other fields, getting started won't take you too long. With a few basic steps done, you can become a CFD trader in a short span!
 

Here are 4 simple steps to get started trading contracts:
 

Tips to Improve CFD Trading in Malaysia 2019

1) Pick Your Trading Instrument: As a CFD trader, you have a variety of commodities and markets to choose from. This is advantageous and disadvantageous all the same! Too much variety only brews confusion and leads to hasty decisions. Do your homework before choosing an asset to trade on. Find out the most profitable market for your methods and how viable it is in the long run! 

Research is always the key to succeeding, especially so in CFD trading or anything like Forex trading as well.
 

2) Select a Safe Leverage Ratio: CFD trading is leveraged, meaning you hold more value than your actual investments give you. Leveraging is a huge benefit since you get to trade higher positions with investments half the value! However, there's always a catch. When you leverage and lose, you lose both the borrowed money and your invested sum. 

To avoid these disastrous happenings, it is best to leverage with care and nominally.
 

3) Learn Stop Usage: Losses are inevitable and can't be avoided, especially on markets like CFD trading in Malaysia. While you can't dodge them, you can definitely minimize the repercussions! A stop order is something that when placed in a trade will automatically remove you from it upon a certain amount of money being lost, or when a bad trade trend is spotted. 

Once again, these have to be placed precisely to notice the best effect; random stops will only be a hassle and remove you from trades before you make any profit!
 

4) Keep Trades Under Control: Contract trades have enough destructive potential to go from steady to erratic in seconds! When you don't exercise caution, your trade can effortlessly throw you into losses. Always have proper indicators and tools in place to keep your trades in check.
 

Note these down and you can embark on a profitable, adventurous journey of CFD trading in Malaysia! While difficulties do exist, you can overcome them and rise to the top of the charts with an established broker like WesternFX by your side. We house professionals with years of experience and the burning desire to help traders fly high! Sign up with us today, and see the magic for yourself.

Top 7 Money Management Tips for Forex Trading Beginners

To succeed at Forex trading in Malaysia, you will have to implement an approach that is as defensive as is offensive; the latter indicates towards aggressive profit-hunting, while the former indicates money management. A field as volatile as Forex can reward you tremendously well, and in the very next instant, empties your account completely! While a rash trader chases money, the wise one prepares for tomorrow. Over time as discipline and patience become a part of your system, your approach will reflect these attributes.
 

A strong Forex trading plan will always have ample room for risk and money management. Protecting your capital is more important than making money while trading currencies. When you start taking measures to save your capital and take educated risks, money will find a way on its own! 

Here are 7 capital management tips that work wonderfully well:
 

Money Management Tips for Forex Trading Beginners

1) Be Patient With Trends: Trend trading is one of the most profitable Forex trading strategies to implement while Forex trading in Malaysia. Given this market's volatility, trends will form frequently. It is all about riding the right trends and riding them long. This requires a thorough understanding of trends. With ample fundamental and technical analysis, you can speculate possible trends well enough to capitalize on them. 

Instead of banking on shorter price movements, exercise some patience and let the large trends carry you ahead.
 

2) Don't Follow The Success Ratio: The win-loss ratio can be counter-productive while trading currencies. Several traders rely on this ratio to calculate trends. The fact remains that having more lost trades doesn't mean you haven't made more money. During a period, watch the charts keenly to catch large trend movements. When you follow the win-loss ratio, you fall for the image of more losses happening, and hence are unable to cash in on the bigger trend waves. 

Through analysis alone, you can catch a profitable trend and capitalize on it well.
 

3) Take Educated Risks: There is a difference between risking everything, and risking what you can afford. This is why Forex trading professionals follow the risk-reward ratio, which says that no more than 2-3% should be risked per trade. This rule equips you mentally and physically for a trade. Risk money that you can live without. Several traders are blinded by the disbelief that more investments equal more profits. It is definitely not so. 

To be put mathematically, for attaining a profit of 70%, 30% has to be dedicated for losses!
 

4) Calculate Your Risk Tolerance: For a trader with $10,000 to risk $20,000 would be a foolish move. Risk tolerance is directly proportional with profits as is with losses in Forex trading. A small risk will mean the profits made are small; similarly, larger risks will have a chance of bringing in larger profits but also result in larger losses. Depending on how much you can, or are willing to lose, you can risk aggressively, moderately or conservatively, with the moderate and conservative approach being more balanced, and the aggressive one being extremely risky!
 

5) Margins Shouldn't Govern Your Trade Calls: An increase in margin will allow you to capitalize on higher positions that your initial investments will allow. However, as an adept trader, this shouldn't be a factor you should take into account. Allowing your trade decisions to be influenced by capital will lead to an imbalance in performance.
 

6) Different Trades Require Different Strategies: From one currency to the other, and one timeframe to the other, the Forex trading strategies that fits best will vary. A simple reference for this is the fact that scalping works well only on short timeframes, whereas swing trading and trend trading work best on longer timeframes. Adopting the same trade plan across multiple grounds will seldom work in your favor. Depending on the nature of the trade, employ varying strategies. 

Also, keep in mind that never jump-change strategies midway through trades!
 

7) Limit Losses With Orderly Stops: Stop-losses are the key to keeping losses at a minimal. No matter how easy a trade may seem, a stop order must be placed to prevent last minute crashes from throwing your trade off! These mechanisms are an essential element while Forex trading in Malaysia. By keeping a stop at a point, you get withdrawn every time the price falls below said point, hence keeping your capital safe while cutting out any chances of loss! Newbie traders fail to keep in mind the volatility carried by currency markets and end up making trades without any stops. 

Remember that the stop-losses should be calculated and kept; random placement of this order can keep you from making profits altogether!
 

Malaysian currency markets are seeing a rapid growth in magnitude, and now's the right time to start your career in Forex trading in Malaysia! Call WesternFX today and kick-start your currency trading journey. Our professionals will equip you with the most lucrative of strategies, give the best platform to trade on, and provide unparalleled Forex trading money-management assistance. Reach out to us today, and scale the starry heights of Malaysian trading markets!