4 Of The Most Common And Successful Forex Trading Strategies

Working in the field of Forex trading, you get to enjoy the freedom of trading choice offered. You can choose from a variety of currencies, timeframes and strategies to work with. When it comes to strategizing, Forex traders can get incredibly creative! Be it implementing an existing plan, or creating your own unique approach, the roads to success are many and you can always make one of yours. Over the years, several trading strategies have been implemented and obtained a healthy success rate.

The Best Forex Trading Strategies To Implement In 2019

Here are the handpicked few that you can implement in the coming year and see tremendous results:

1) Scalping: A quick-paced trading Forex strategy, scalping is a technique employed on shorter timeframes. Scalpers aim at making small profits which later compound into one big winning. By keenly following market changes on the most minute windows, scalpers capitalize on these small movements. While incredibly profitable unlike common belief, this strategy can be taxing, since traders have to demonstrate high focus and pin-point precision. You can practice and master this method with a good Demo Trading Account at hand!

2) Day Trading: A simple yet amply effective Forex Trading Strategy In Nepal, day trading is a technique where traders buy and sell within the same day. Without any overnight carrying over, day traders aim at opening and closing trades within smaller timeframes. Day trading is one of the most common strategies seen today because of their easy implementation and high success rate.

3) Trend Trading: A long-term approach, trend trading is just as the name suggests - following and capitalizing on a trend. Through thorough fundamental and technical analysis, traders speculate on the trends a market will adopt and respectively place their calls. With indicators like Moving Average, RSI and Bollinger Bands, the process of analysis has been made simpler! A relatively easy-to-implement strategy, trend trading can be a huge success when done right.

4) Swing Trading: With support and resistance lines as two opposites, traders capitalize on the major swings made by the Forex markets. With a good range picked, you ride the tide till it is profitable and exit it as it reaches closing. By continuing this process, which is essentially a blend of day and trend trading, you make a good winning!

Once you have practiced these Forex strategies on a demo trading account, they are all good to be implemented! Every plan is profitable when implemented right. With an experienced broker by your side, you can start drafting your own strategies! Reach out to WesternFX today, and avail our Forex Trading Strategies In Nepal. Our experts will guide you through every trade, and assist with every need to make sure your trading approach is success-worthy!

3 Key Facts Of Forex Trading Every Trader Should Know

Often times, only the bright side of Forex is seen by people. This is what causes misconceptions to rise and leads several to believe Forex trading to be a field of easy riches. The reality is completely different. Currency exchange sees only 10-20% of the traders succeed in their venture. Most traders who lose are blindly driven by the need to make profits, and this desire leads to their downfall. A profitable career is difficult to achieve, but certainly not impossible. Governed by a disciplined approach, you can see currency trading success in no time!

Here are the 3 crucial things to remember while trading Forex:

1) There Are No Overnight Profits: If profits could be made in an instant, every other player in currency markets would be rich today. Forex is like any other field when it comes to success, it is only reached over time. A field rich with numbers, foreign exchange requires that traders spend more time studying than trading! Traders reach to the top solely through research, practice and adept implementations. You won't have to spend years to master Forex Trading, but the process won't happen overnight either. There are never any shortcuts, whether you trade in markets or do Online Trading; the outcome is always the same! The ingredients to achieving success are mainly research, patience and practice.

2) Never Compare Yourselves With Others: "Tom trades the same timeframe as me, but he earns more", "Cindy uses a different strategy, maybe that's why she profits better." These types of thoughts are natural in Forex markets. As the saying goes, the grass is always greener on the other side. While you are busy comparing your wins with others', ample opportunities are passing by and you are missing out on them! Instead of lamenting, focus harder on improving your approach. It is always advised to follow professional traders and observe how they trade. Do the same without losing your touch in the process!

3) Stay Resilient: The final step to a having a successful trading career in the long-run is not giving up midway. Traders often give up on their trades when enough profits are not seen, or the trade is growing slowly. Though Forex Trading is known for being liquid, the markets won't always move in your favor. Wait for prices to hike or drop as you want them to. Protect your trades with proper stop orders, and make a few risky calls! The perfect balance of risk and control is what will help net in good wins.

The world of trading is evergreen and has immense potential for growth. Be it Share Trading In Nepal or foreign exchange, with the proper broker guiding you, any field can be mastered! Get yourself the best brokerage today, Call WesternFX! With the assistance of our experts, you can grow your trades and see profits in no time! Reach out to us now and get a Free Quote.