3 Of The Best Day Trading Strategies In Forex

Day trading is one of the most popular Forex trading approaches today, and has been so for a long time. The short span offers traders an intense environment, and with each trade having a healthy profit potential, day trading is definitely an amply stable strategy. 

What makes day trading beneficial is that in its short span, there are more guaranteed trade movements, which create a lot more opportunities than long-term Forex trading strategies. Hence, at the end of the day, you'll be able to make multiple trades that have hefty levels of volatility, bag decent profits and close on a victorious note.

Here are 3 of the best day trading strategies to follow in 2019:

1) Scalping: 

One of the most powerful Forex trading strategies, scalping is an intensive but mighty lucrative approach. As a scalper, you will be making multiple small trades instead of one big one. Being a short-term strategy, there will be a lot of movement to capitalize on, the only con being that the profits are small.

Each trade is just minutes-long at most, giving you a lot of time to make multiple trades and compound the profits! What's important here is that scalping can be very time-intensive, and though small-scale, it can bring in significant losses if not implemented right. 

2) Breakout Trading: 

When the value of a currency pair exceeds a speculated price range, the event is called a breakout. A lot of heavy fundamental analysis goes into this, because to trade breakouts, you need economic and financial data. 

In addition to this, you will need to have absolute control over some indicators like MACD, Bollinger Bands, RSI and Moving Averages, since these Forex Trading in Nepal indicators help assess the economic impact being made on a currency, and gauge the viability of a trend as it happens.

3) Algo Trading: 

For the mathematical minds, algorithmic trading is one of the best Forex trading strategies. With lots of data, past and speculated future trends, and current economic events in mind, algorithms are drafted to point out where the markets will move and how it will behave.

While long-term Forex Trading Strategies are definitely profitable and viable in their own way, the shorter ones have a charm of their own! Open a free Forex demo account with WesternFX, try out these strategies and see their magic happen. 

Our seasoned veterans will also teach you about the best implementations to follow and how you can make the most out of each approach. With us by your side, you'll be working with proven strategies and seeing big wins! 

4 Forex Trading Tips To Follow During Tough Times

As a Forex trader, you will win some and lose some, but even the smallest of losses will start getting to you. Forex trading is known globally for the profitable nature it houses, but seldom do people realize that trading currencies takes a toll. Even with a good trading system in place, many traders fail to see positive results in their exchanges. During such periods when the going gets tough, you should get tougher. There are some easy ways to combat these times and bounce back stronger! 

forex trading strategies

Here are 4 tips to follow when Forex trading pressure builds up:

1) Rework Your Leverage: 

Many traders lose due to overleveraging. So if you're experiencing a losing streak, reworking your leverage will be a good start to getting back. It is natural to get tempted by leverage and invest in big amounts. Leverage is a double-edged sword and it stabs you more than it helps you. Reducing it will help you minimize losses and work your way to the top once again. 

2) Don't Invest Emotions: 

While emotional investment is necessary, it has to be done with care. Staying too callous will not work out for any trader, but investing emotions more than needed will backfire. As a Forex trader, you will often find yourself feeling afraid or greedy, and when these emotions take the wheel, rash trading is the natural consequence. An incredible way of bouncing back is to trade with minimal emotional involvement and a stellar few Forex Trading Strategies.

3) Trade The Trend: 

Study the markets for trends and ride them to profits! To succeed at Forex trading in Nepal, trend trading is a must. Going awry will be of no good. Always keep a good set of indicators in place and watch the charts for developments. Once you get a hold of a lucrative trend, analyze your moves and trade it. 

4) Review Your Moves: 

Post-trade analysis is something very few traders do, and doing this is what helps the successful take to the top. Analyze your Forex trading strategies and see how they can be bettered; review your trading moves and keep improving on them as and when needed. This will help you minimize your losses phenomenally! 

When you start off Forex Trading in Nepal, discouragement will present itself frequently. It is crucial that you remain resilient and push through. Join hands with WesternFX, one of the leading brokers in the game, and avail our world-class Forex brokerage! Our experts will provide you with the necessary means to trade currencies successfully and see swift profits. Call us today to get started!