Proven Trading Tips From Seasoned Forex Veterans

Every now and then, one might have the pleasure of running into an established Forex trader. These veterans don't have a VIP pass to take a cut of the market's profits! They face the same hurdles as the other Forex players do. What separates them however the resilience they carry is and the discipline they exercise in each trade. Novices often burn out early as a result of making rash decisions and poor investment choices. There's a lot of beginners can learn from professionals who have crossed their stage! 

Forex Trading Strategies

Here are some handpicked tips for newbie Forex traders to learn and implement: 

1) Find Your Trading Personality: 

Are you a long-term Forex trader or a short-term player? Do risks excite you or does a calmer trend appeal? It is crucial that you find your trading personality. Fitting into other traders' shoes isn't what you should be doing. When it comes to Forex Trading, always take your time. Do your research and find conditions that you like trading on, instead of placing trades simply for money.

2) Money Isn't The Aim:

Profits are great and making big money is definitely a catch, but that shouldn't be the only motivating factor. The one thing Forex trading professionals always advise against is being driven by money! When you only have monetary goals, finding a long-term milestone to bank on becomes impossible, which leads to an early burnout. 

3) Take Losses As A Learning Lesson: 

The fiercest of Forex traders have tried, but none have succeeded at having a Forex trading career without losses. Does that make them inept? No. Foreign exchange markets are incredibly volatile and it is impossible to see profits without first making losses. Erratic market shifts, sudden economic disruptions and many such developments throw well-placed trades into losses! While they can't be avoided, losses can be minimized and mitigated to an extent. 

4) Manage Your Risks And Investments: 

To reach the level professionals are at, you will have to master risk management. A fine balance has to be achieved between risks that will destroy your account and ones that will multiply profits. When you achieve this balance, you will have evolved as a Forex trader. 

And to top this list off, avail the assistance of a reputed Forex Broker In Nepal like WesternFX! Reach out to our experts today, and get started with seeing massive profits come your way. At WesternFX, our priority is to provide traders with world-class brokerage and equip them with the best of Forex trading strategies. Try a demo now and see our expertise for yourself!    

The Pros And Cons Of Manual And Automated Forex Trading Signals

For long, the battle has waged in Forex trading markets and neither faction has given up; one group prefers availing manual trading signals, while one believes automated signals are far superior. Forex trading signals are provided to help traders identify the best time to enter or exit a trade, and whether they should take profit or cut losses. These signals can be availed in the form of text messages, emails or social media messages, from dedicated Forex brokers in Nepal. 

Forex Trading Strategies

Forex trading signals are of two types, manual and automated. Manual Forex trading signals are human-generated. There are people behind the machines, analyzing the markets, making the necessary calculations and providing you with ready-to-use signals. Automated signals, on the other hand, are provided by trading robots or expert advisors. These bots perform the backend analysis and send users details as to which trade to cash in on and when to do the same. 

Confused as to which one is best for you? Here are the advantages and disadvantages of manual and automated signals:

Manual Signals:

Pros: 

1) Manual trading signals are provided by real traders. This means that when the markets see sudden shifts in movements, the traders generating the signals can adapt accordingly and you can modify your Forex Trading Strategies. With automated signals, this can't be done.

2) With a manual trading signal provider, you will be able to make the most out of new developments. News and other media outlets cover the latest happenings that affect Forex trading markets, and with a manual signal provider, you will be kept abreast of these events. 

Cons: 

1) Manual signals are limited by their numbers. There are only so many experts that can be kept behind a signal providing service, so some currency pair signals are bound to get cut and some Forex Trading Strategies, nullified. 

2) Employing manual signals is more time-consuming when compared to automated signals that are more up-and-running.

Automated Signals: 

Pros: 

1) Even new and novice traders can employ automated signals because all of the background work is already done for them. This helps them focus more on learning while the signal provider does the rest of the important stuff.

2) There is no sort of emotional intervention. Typically, traders get distracted by emotions and end up making silly mistakes. With an automated signal provider giving them direction, emotions will be kept out of the equation. 

3) Automated trading signals are incredibly fast, much faster than manual ones.

Cons: 

1) When Forex trading markets fluctuate, automated signals won't adapt to the movements. 

2) Technical faults might cause the signals to be erratic and flawed. 

Both of these have their own advantages and disadvantages, as you can see. The best one ultimately comes down to your preferences and the market conditions! No matter which provider you choose, having the backing of a good strategy and an experienced broker will take you all the way to the top. 

With a good signal provider and the right Forex Broker in Nepal to guide you through the markets, success will be yours in no time! Join hands with WesternFX today. Assisted by our experts, you will catch lucrative trends swiftly and make the most out of each trade! Call us now to know more. 

Advanced Forex Approaches For The Modern Trader In 2019

With advancing times comes the need for strategizing advanced approaches too. Forex trading is no easy domain to thrive in; market risks and volatile movements always find a way to disrupt trades. A Forex trader in Nepal has to implement strong strategies to swim past the risks! This 2019, you can take your exchanges to new heights with the help of a few solid strategies. In fact, with a good strategy and ample focus alone you can turn losing trends into those that run in your favor. 

Forex Trading Strategies

Here are 3 Forex trading strategies that will help you immensely in 2019: 

1) Scalping: 

One of the most famous strategies seen while Forex trading in Nepal, scalping is as intense as it is effective. The strategy revolves around the idea of making trades on sure-shot movements seen in small-scale trades. As a scalper, you will be working on extremely minute timeframes, but ones that see guaranteed price movements to capitalize on. Though each trade will be small and the profits smaller, you will be able to make a huge compounded sum at the end of the day. 

2) NFP Trading: 

Nonfarm payrolls trading is similar to scalping but more advanced. Every time an NFP release happens, Forex markets see massive fluctuations. So as an NFP trader, prior to the releases, you will have to speculate market movements and see what impacts the release will bring. 

3) Position Trading: 

Being a long-term Forex Trading Strategies, position trading is times less taxing than other strategies. Positions have to hold for long durations, meaning the day-to-day struggle of monitoring charts is eliminated.  

To become successful at Forex trading, the empowerment of a good Forex strategy is a must. You will find thousands of Forex traders in Nepal come and go, but only a handful that stay. Losses end up consuming around 80% of the currency players today, and only the select few with good strategies see themselves through to victory. 

Join the ranks of these victorious few - join hands with WesternFX! Our seasoned market veterans will equip you with cutting-edge Forex Trading approaches and provide you with the most latest of trading platforms. With an arsenal of stellar tools to work with, you will be able to see success come by swiftly! Call us today to get started.

What Is The Best Forex Trading Timeframe In 2019?

Forex trading is truly an amazing field. Be it in terms of profitability or viability - as a Forex trader, you have a field of opportunities ahead of you. 2019 is an incredible year for Forex trading; the market values are going up and profit prospects along with it. With a strong approach backing, winning trades and bagging profits is going to be no difficult challenge! That being said, traders often wonder when it's best to trade currencies; foreign exchange is a 24 hour market working 6 days a week - you have all the time in the world to trade! What's key, is to make sure the traded timeframe is profitable. 

Forex Brokers in Nepal

What makes Forex the amazing trading domain it is known to be globally, is the immense liquidity that accompanies it. To explain it simply, a liquid market will let you have a party at the other end for your transactions - at all times! This means that as a Forex Trader, you can participate across any timeframe and be sure that your transactions will be received. 

Another element to keep in mind while Forex trading, is the high volatility that the markets here carry. Depending on the time of the day and the currency pair in focus, you can expect a lot of movement - both favorable and unfavorable. This is why Forex trading is seen to be a powerful market; the high volatility can easily dismantle trades built over time. While features like leverage can help you take higher positions, one bad trade is all that's needed to bring your capital account to negative values. 

High liquidity combined with volatility just as big means that you as a trader have all the time in the day to utilize. The deciding factors are timeframe, currency value and the strategy employed. You can’t trade a currency in a timeframe that sees dormancy in the pair's value; neither can you employ a short-term strategy to a long-term trend.  

Get yourself the assistance of the finest Forex Broker in Nepal - WesternFX. Backed by our seasoned professionals, you will be able to find profitable trades and succeed as a Forex trader swiftly! We will equip you with the best of trading platforms, indicators and strategies needed to ace trades. So what are you waiting for? Take your place in the ranks of professionals, call us now and get started! 

How Being Brave Can Help Succeed As A Forex Trader

Foreign exchange is more than just a trading market today. The number of emotions it brews is endless. Traders participate in Forex trading in vast numbers and from all around the world. An incredibly profitable field, foreign exchange is as risky as it is lucrative. As a Forex trader, there is no visible cap to how much you can earn through trades, meaning the profit potential is limitless - so long as you are disciplined and strategic. 

Forex Trader In Nepal

What lures the majority towards Forex is the promise of riches, and ironic enough, this same promise is what leads to harrowing capital losses. A filed as profitable as Forex definitely will come with some sort of inhibitor; else everybody would be rich overnight! Since Forex Trading markets are immensely liquid, opportunities are available in copious amounts and the potential for profit is huge. However, like every coin has two sides, Forex has profit on one and loss on the other. Currency traders can get volatile to the point where complete trading accounts are emptied of their capital! Many traders pile up profits with consecutive wins but lose them all to a single bad trade.

Treading on the fine line between profits and losses, greed and ambition, this is where the elements of bravery come in. Being a brave Forex trader doesn't mean taking risky trades head-on or playing things rashly. Bravery lies more in holding back than giving in. Many Forex traders in Nepal think being brave involves trading on failing markets, that's not bravery, that's overtrading and it's a problematic move. Courage is exhibited in the form of self-control and resilience. 

Traders often have a fear of missing out, which is what pushes them to blindly take opportunities that come their way, without the necessary analysis. Similarly, missing trades is seen as a shameful thing in the trader community. In an aim to not miss out on trades and avoid facing the shame of loss and missed trades, Forex traders in Nepal overdo things under the pretext of courage only to lose money.

Bravery in Forex means telling yourself no once a certain number of trades have been placed, or once a good amount of profits have been earned. The lure of money often forces traders to keep trading continuously without fearing the repercussions! Courage should hold you from making careless trades and fall into the overtrading trap. 

Don't let the big talks intimidate you. Forex, more than a career, is a learning experience. You learn from mistakes on bad days, and on good ones you learn how to do even better. Talks aside, are you ready to go journey down the adventurous caves of foreign exchange? Sign up with WesternFX today, and with our expert guidance, shine brightly as a dominant Forex Trader in Nepal! Call us now to know more.     

Forex Trading 101 - What Goes Behind Strategy Planning

Every trader wants to know the secret behind drafting a Forex trading strategy guaranteed to win. The truth, however, is that there is no secret, just like there no "100 profit-guaranteed" trading strategy! Foreign exchange is a field that sees volatility beyond compare. This means that as a Forex trader, your job isn't simply to study trends and place trades but to also look out for potential risks that might come your way and disrupt your trading approach. A Forex trading strategy is all about covering the A-Z aspect of each trade and making sure losses are mitigated while profits are maximized. 

Forex Trading Strategies In Nepal

Here are 4 steps to develop a game-winning Forex trading strategy: 

1) Devise An Overall Structure: 

When it comes to strategizing, going step by step won't be of much help. What you have to do instead, is keep an entire structure in mind. Everything right from the entry to the exit has to be kept in mind while planning your Forex trading approach. Start off by making a skeletal structure for your strategy. Decide which currency you want to work with, the timeframe of choice, indicators to trade with and other such metrics. When you have this architecture's backing, strategizing becomes easy. 

2) Do Your Homework And Research: 

Knowledge is a pivotal factor in Forex Trading. To think about placing trades without knowing the basics is preposterous! Do your research before moving on to trades. Go through the news to see what the most recent economic developments are, study the latest trading trends and make sure you have the necessary knowledge, not just to place a trade, but to see it through to success.

3) Load Your Arsenal With The Necessary Tools: 

The assistance of indicators will come in handy on more occasions than you can count while Forex trading. With a little research and studying you can find out which indicator or charting tool will be perfect for your trades. Make sure to not load your charts with indicators! Only employ the ones most necessary. 

4) Calculate The Capital Requirements: 

Heading into Forex trading markets without any idea of capital requirements will backfire at a point and throw you into losses. Know how much you want to invest, how much you are willing to risk and how much you expect back - all before starting trades. 

With these 4 steps cleared, you will be able to craft a tailored approach and implement a strategy that works incredibly! Your search for finding profitable Forex Trading Strategies in Nepal has ended - with WesternFX by your side, you can avail game-winning strategies! Our experts will equip you with techniques designed to bring in results. Not convinced? Talk with our professionals today and see for yourself!