4 Stellar Tips To Keep In Mind While Investing in The Stock Market

Traders are relentlessly drawn by the stock exchange. The liquidity of stocks and the promise of steady returns make them the perfect take for several traders. The only downside being long durations of holding trades. Starting off, every trader has the same question - "Is it worth investing in stocks?"

It definitely is! With a value well over $30 trillion, the stock market offers excellent trading grounds for the adept. 

Here are 4 tips to keep in mind while entering the stock market

1) Avoid Following the Crowd: As quoted by Andy Hunt - "Only dead fish go with the flow." In stock trading, never practice herd mentality. A typical trader's mentality is to invest in stocks that others have invested in. Each trader has a particular trading strategies and an outcome to achieve; trying to fit in those shoes will do you no good in the long run. Let other traders only motivate you, not lead you altogether.

2) Plan for the Long Run: Though stock exchange market has high liquidity, they are not a means of quick money. When you plan on investing in stocks, brace yourself for the long run. Stocks have an erratic and volatile nature; this means that there's no guarantee your investments will present themselves to you when you need them. Ideally, stocks help save for retirement, college or participating in a real-estate purchase.

3) Plan Thoroughly: Stock Trading is built on a strong plan. Without the necessary foundations, success is a dream! Every great trader has a plan of his/her own to conquer the game. Devise your own! A good plan doesn't simply help you make the most out of a trade, but it also helps you avoid losses. Planning ahead, you can make sure measures are in place to keep losses at bay and profits multiplying.

4) Never Time the Market: Timing the market is like swimming against the flow - the latter is always stronger. Even trading legend Warren Buffet advises strongly against it. Returns don't obey you, they obey the market. Though speculations are a necessary skill in trading, in stocks it is advisable to let time call the shots. 

Patience and practice are the mantras to success in stock trading. Equipped with a solid trading platform and driven by a stellar strategy, you can never falter in stock trades! At WesternFX, we provide our traders with an impeccable trading platform to work with and our experienced traders will offer aid with excellent strategies. If you're looking to rock the Stock Market in Malaysia, call us today!

How To Avoid Getting Scammed By Your Forex Broker?

Forex trading becoming popular, people will always find a way to make money the wrong way. What tops the list in Forex scamming. Online trading has skyrocketed since its advent; along with it, even scammers found a leeway! The Forex industry is bustling and in the rush of the hour, people make hasty calls choosing the wrong brokers. Avoiding scamming takes a bit of focus. To be able to differentiate a legitimate broker from a fake one and to know what to do when caught in a trap is something a trader learns as times goes on!

Here are 3 things to keep in mind to avoid Forex scams:

1) Compare the price: Get a complete control over the trading platform so you know exactly what actions the broker takes! With all the price feeds in your control, any decision called will come to your notice. Several traders are provided with only one feed, which is essentially useless without the others; doing so gives the broker complete control over market moves and leaves you tied and blind! Don’t end up chained, always make sure you are on the driver’s seat with your broker only providing assistance. 

Forex brokers in Malaysia

2)Keep a physical account of everything: With digital applications allowing you to monitor happenings, you forget the importance of a pen and paper! What helps you fight against a scammer is the account you have of what happened. Digital information can always be manipulated. By keeping a track of all trades, you can pull one on a scammer before he does on you! Several financial institutions exist to help with such cases, but to prove your innocence there you’ll need to show concrete evidence. Additionally, maintain records will aid in having smarter trades and help you speculate fluctuations better.

3)Read through reviews: The simplest method of differentiating good online broker from bad one – see what others have said! It is no doubt that a good broker agency will be reviewed positively. Always pick a broker who is reviewed well, and additionally has his service reviewed too. It is always an advantage to know everything about your broker – the facilities, spreads and what makes him better, before partnering up!

These will help you keep scammers at bay and profits running! Once signed up with a good broker, your trading life is set to cross all seas. Partner up with WesternFX, the best brokerage agency! Our expert Forex traders will make sure you have a consistent track record. For getting the best Forex brokers in Malaysia, call us today.

Tailed Bar Candlestick Strategies To Make The Most Out Of Forex Markets

In Forex trading price charts are a key component of the trade process. Analyzing currency pairs and devising an appropriate Forex trading strategy for the selected pairs will be an expert trader’s mindset. In these price charts, tailed bars are the most important. These tailed bars usually range between the opening and closing rates. They depict rejection in a particular price area; this exhaustion can be used to understand a lot of thing about the commodity.

Tailed bar strategies are preferred by several traders over others, especially in online trading in Malaysia. Here’s why:

1) Classic Pin Bar Candlestick Pattern: This pattern depicts a reversal in the price across a fixed time frame. The intensity of this difference increases with the time frame. The pin bar tail is opposite to the main bar, indicating that the price may move opposite to the current direction.

Forex trading in Malaysia

2) Long Tailed Pin Bar Candlestick Pattern: In all of the trading, the long-tailed pin bars are the most significant of their kind. These patterns have a huge tail compared to the body. The implication is that – there’s a huge change coming. Whenever you see a pattern similar to this, stay extra cautious for the incoming price swing.

3) Double Pin Bar Candlestick Pattern: Double pin bars in charts are what shooting stars are to man, very rare and a sign of sorts. When double pin bars occur, they indicate a price rise/drop in the opposite direction. These can be practiced in a Forex demo account.

4) Small Tailed/Long-Tailed Bars: Small tailed bars are those that are existent but not significant enough to be called “pin bars”. Long tailed bars are those where the tail is relatively longer than the body. Though not pin bar, these indicate a fluctuation in the charts and ought to be watched out for.

Practicing your strategies on a demo module will help you understand the consequence of each move, and when to make one. 

At WesternFX we offer the best services and have made online trading more efficient. With dedicated teams for each service, round the clock consultancy and top-notch strategies to conquer the market, it’s no surprise we are the best. Forex trading in Malaysia is seeing a new dawn, captained by us. Contact us for stellar services and you will completely dominate the Forex market in no time!

A Guide to Short Sell Your Stocks Successfully

Having a clear knowledge about the volatility of the stocks in the market will enable your trading in a successful way. This article discusses strategies that can be followed by a trader to better short selling.

When a sale happens where an investor sells a stock that he doesn’t own is known as short selling. Whenever market faces volatility, chances of earning through short selling opportunities increase. To increase profit in Forex trading, having an absolute knowledge of short selling is a must. Take a look at the five strategies mentioned below to earn more profit.

Be Wary of Using Leverage 

If leverage is being used in short selling, then proper attention should be given to the stock market. Leverage can be used if you can handle risks properly. Once its values go up, one might incur loss while short selling. There are chances where its value can rise above 100% from the entry, causing more loss where one may have to pay a debt to the broker.

While performing short selling, be open to facing small losses. This will help in sustaining the trade and achieving the bigger target.

Look Out for Catalysts

Before performing short selling, knowing about its catalyst is important. Having knowledge about what might happen in the market trends will aid in earning. Always trade with familiar catalysts and ensure you trade in stocks that are known to dive down. To determine the success rate of the trade, get to know how they react to catalysts. 

Stock Market 

Check for Short Sale Restriction

When a stock gaps down and its short sale restriction (SSR) is on in the Forex trading, then placing an entry becomes difficult. If its value goes below 10% or more, then SSR is introduced. For a stock with SSR, an order should be placed and wait for the market to spike, which will fill the entry that has been placed.  Breakdowns in short sell might not happen with these, as it may not get filled.

Focus on Overall Market Trends

Overall stock market trends will be followed without the catalyst. While trading beta stocks such as BABA, NVDA, and FB, SPY chart should always be set up. Due to high volatility in the markets, they may experience a huge range in the intraday category. Stay away from short selling when the market is both strong and weak, as they usually go up and down in volatile markets.

Understand the True Range of Stocks

During online trading, the value may go down due to the negative catalyst. Sometimes, it will not trade within its normal range. It is important to identify its normal range. Constantly monitoring and knowing its range will allow you to succeed in a potential trade. Certain stocks may have no range. For example Range of General Electric is less, which makes its earnings at 50 cents in a day.

The aforementioned steps will allow traders to successfully short sell their stocks. For online traders in Malaysia, these strategies will aid them in online trading and earn monetary success. Partnering with reputed Forex brokers like WesternFX will facilitate your hold in the Stock Market in Malaysia.

5 Tips for Forex Trading Success

With the markets soaring high, the time is ripe for beginners to take a plunge into Forex trading in Malaysia. However, for wannabe-traders, there are a few basic tips that need to bear in mind before they commence their career. Subscribing to these can help traders mitigate the early travails of online trading and bring consistency in their success.

Tips to remember:

1. Loss is common: Traders should be mindful of the fact that, in the Forex industry losses are inevitable. All traders have to go through losses and loss-making phases as 100% success is impossible in the industry. However, to be successful in the long run, traders must learn to keep the losses to a minimum.

2. Executing trades without a plan is gambling: Trading is not a risk-free activity. It has several inherent risks. Forex traders must learn to develop Forex trading strategies and use them wisely if they wish to succeed in the long run. Managing risks and negotiating them successfully is a major part of online trading. 

3. Keep emotions at bay: This is another important characteristic that traders should abide by. Giving in to emotions such as greed and anxiety while trading can lead to one not sticking to their Forex trading strategies and engage in erratic trading. This could lead to the accruing of losses.

4. Stay abreast of all Market events: Regardless of one engaging in technical or fundamental trading, watching out for market news and keeping abreast of market happenings can help traders look out for the most favorable market scenarios and trade in them accordingly.

5. Managing risks is vital for future success: The size of a trading account defines the profit a trader can pocket from his successes. However, occasional losses can eat into the account. Hence, traders must make sure that they utilize effective risk management strategies and keep their losses low and improve the profits every successive time by fielding a larger position.

These are some of the basic tips for beginners that are starting afresh in the Forex exchange. However, to master all the requisite skills in a short time, it is wise to reach out to reputed brokers who offer vital guidance. WesternFX is a reputed online Forex trading company in Malaysia. Partnering with them can help traders.

Why should one maintain a trading diary?

Taking up Forex trading in Malaysia is a business that is lucrative and full of scope for profits. However, several traders have tasted varying degrees of success over the years. To be consistently successful in the industry, traders must learn to look for signs of risks and read the patterns that lead to success or failure. 

But reading the chart pattern only reveals the trend that the market has taken in the past. To bring success to online trading, traders need to read Forex trading pattern and discern the places where one has tasted success or failure. How can this be done? By maintaining a diary or journal! 

Why should one have a trading diary?

Keeping track of every trade ever participated in is a good way of revisiting one’s past online trading activity and looking for areas of improvement. It helps traders identify and discern patterns in their trading activity and analyze the scope for improvement. 

- During a failure, a journal can help traders retrace their wrong moves and identify where they went wrong.

- During success, a journal can help Forex traders identify what is working for them and improve upon the aspect.

What are the attributes of a good trading diary?

1) The date and time when the decision to open a particular position

2) Reason that influenced the decision

3) The market entry strategy.

4) The Forex exchange rate at the time of the entry.

5) The fixed profit/loss.

6) Stop-loss limit

7) Reason for closing the order

8) The nature of outcome

9) Additional comments.

Studying the results of a diary

Evaluating one’s journal is sure to boost success as a trader. This helps a person identify where he/she would need to improve upon. Over time, this will improve one’s performance by minimizing blunders.

Showing one’s Forex diary to an expert broker can help Forex traders gain more insights into their own way of trading and dissect it to find scope for improvement. For such services, partnering with a reputed online Forex trading company in Malaysia like WesternFX can be highly useful.

The Significance of Picking the Right Entry Time into a Trade

Success in Forex trading is always dependent on one crucial factor- Timing! Getting the capital “T” right is one of the most important things if traders hope to see success in their trade.  Forex traders in Malaysia can relate to having a hard time when it comes to planning an entry into the market. For novices, it is always a challenge to plan an entry into the market as there several factors that need to be considered and any wrong move will significantly diminish the profits that can be made out of the trade. 

So how can traders plan a successful entry?

Traders can know if their entry was perfect only when they make a successful exit. However, to ensure a successful entry in the online trading market, the following steps need to be practiced.

• Trade should be taken up in the strongest currency pairs in the direction of the trend. This ensures maximum returns.
• Using stochastics, the health of a trend can be determined. This can be used to buy it at or near the trend line.
• A profit target of at least twice the amount invested should be booked. This gives enough room for the position to move.
• Traders can also look at the charts and identify previous successful forex trading strategies and their entry times. Using these can help traders make a successful entry into the market.
• Using limit orders can help traders get better prices. This helps them plan better entries.
• The next day’s entry should be placed based on the previous day's performance. Trades should be set up at the end of each day and should commence only after 15 minutes after the opening bell.
• Use the T.L.S. principle to set up the perfect trade. Identifying the right Trend, Level and Signal is important before entering a trade. When two of the three criterion match, a Forex trader can enter the market.

Figuring out when to enter a trade is an important exercise while Forex trading in Malaysia and getting it right is important for success in the long run. Developing a successful entry strategy can be arduous if one is new to the industry and is uninitiated in the fundamentals. Allying with a reputed online Forex trading company in Malaysia like WesternFX can help traders apply the principles better and attain success.