How To Succeed At Online Share Trading In India?

The lucrative field of share trading started off as a luxury for some and a hobby for many, but today it has become a hugely profitable venture! Since the advent of online trading, people could trade from the comfort of their homes and at hours of their choosing. This removed the hassle of brokerage costs and enhanced the trading experience as online trading went on to provide several analysis and investing tools. With the competition growing severely acute by the minute, everybody wants to know the formula for success!

Here are 4 proven ways to see consistent success at online share trading:

Online Trading Success Tips

1) Understand the Market: "An investment in knowledge pays the best interest." - Benjamin Franklin. Rightly quoted, the first investment you will be making in trading is the one to educate yourself. From the basics, to trading methodologies, to risk-management - you will have to enrich yourself on all grounds before you can step into live trading. The volatility held by the stock market is fierce and will topple any unprepared trader!

2) Strategize to Perfection: Commodities, currencies, equities, bonds and so on - there are several domains for you to choose from. To be a successful online trader, find one asset class and narrow down your focus to specific points. Initially, trading is about finding your niche and specializing in a particular domain. Over multiple trades you will grasp the market flow and you can branch out fluently into other genre without fearing any repercussions.

3) Demo Trade Before Live Trading: Demo trading is often overlooked by several traders - professional and beginners alike. Demo trading accounts are immensely beneficial for beginners; you can learn every aspect of trading without losing any money and you can test out various strategies, learn the circumstances. Entering live markets without practice will only sow the seeds for loss which you will yield eventually. Always practice on a demo account till you have a grip over the platform and a clear understanding of the market before proceeding into live trading.

4) Take Losses in Your Stride: Starting off trading, it is discouraging incurring losses. However, nothing but failure, will pave the road to success! Losses happen to the best of traders, take it in your stride. There are trades where no amount of strategizing and risk-management will help you avoid loss. Learn to be positive about both outcomes and let failure only drive you towards betterment.

Trading does not offer a formula for getting rich quick. On the contrary, the ratio of failure is high in trading. Ultimately, it comes down to practice, patience and research! Online share trading is a risky, yet hugely profitable endeavor; done right, you can reap incrementing benefits in no time! Want to leave your mark in the online share trading in India? Call WesternFX! Our team of experienced brokers will ensure your stay in the share trading ecosystem is comfortable as it is profitable!

3 Stellar Forex Trading Strategies To Dominate The Markets

When it comes to trading, blindly working hard is going to do you no good. Replace this monotonous, bee-lined approach with working smart and being consistent. A good Forex trade is a consequence of practicing and strategizing. Forex trading may have a liquidity high enough to intimidate the best, but there are elements of the trade that remain consistent. Success in Forex is all about researching these patterns and devising a plan which works around healthy market positions. 

Here are 3 Forex trading strategies guaranteed to work:

3 Stellar Forex Trading Strategies To Dominate The Markets

1) Position Trading: This is one of the frequently used trading approaches where trades are held for periods ranging from weeks to months. Position trading heavily relies on fundamental analysis. As a position trader, you will not have to worry about investing lengthy durations into your trades since all your trades will be long-term. Additionally, you will be immune to any short-term fluctuations. However, since this is a long-term process, you will need significant capital to carry the trade. Long-term trades are generally slow-yielding due to their duration and the low frequency of trade occurrence. 

2) Swing Trading: The job of a swing trader is to just capture the market swings promptly. The timeframes while swing trading will be anywhere between 1-4 hours. As a swing trader, you will be indulging in buying support, selling resistance, trading breakouts, etc. Being a swing trader can be beneficial, in that, trading opportunities are amply presented to you, and this can be done part-time while your main focus remains on your job. The only predominant drawback of swing trading is it has an overnight risk involved; during this period of time, there are a number of factors that will work against your favor. 

3) Day Trading: As the name suggests, day trading is a strategy where you hold, buy and sell, all within a day. The timeframes are as little as 5-10 minutes! Several trends experience volatility within the same day and in a span of a few minutes or hours; as a day trader, your job will be to capture these changes and capitalize on them. Indirectly this means that you will predominantly be trading the commodity that is most volatile since long-term increments will be of no benefit! As a day trader, the only thing you will have to learn and be up-to-date with is the market chart and chart movements. A day trader will seldom have anything to do with the fluctuations in the economy or long-term trends. 

The difficulty of day trading sets in when you realize you have to constantly monitor the markets for even the slightest movements. This even means that you can't day trade part-time or side-by-side; you'll have to commit to it fully. However, with the absence of overnight risks and plenty of room for profits, day trading isn't the scary course it looks like.

Forex online trading in India has been seeing a lot of changes. The sheer number of traders is boggling! Equipped with a good strategy, any newbie can transform into a full-time professional trader in no time. Get in touch with WesternFX and avail our impeccable Forex trading strategies! Assisted by our stellar Forex brokers and with our amazing trading platform at your disposal, you will scale dizzy heights in no time!

Staying a Step Ahead Of Your Broker at All Times and Avoid Scams

Like every other business, Forex trading has its own share of scammers, waiting with open claws to prey on any foolish trader they can find. Online trading heavily relies on knowledge and planning. The very thought of delving into trading without the faintest idea about markets is unfathomable. The first thing scammers exploit is lack of knowledge. When it comes to online share trading in India or other investment avenues, entering the trade business without the basic know-hows will lead to outcomes that will haunt you forever.

Here’s how you can protect yourself from Forex scams: 

1) Sharpen your awareness: The stock market can brew enough confusion, and under the influence of a scamming broker, you will lose all tracks of the money invested and the due returns. No matter what you’re investing in, you should hold the trigger and call the shots. Having your broker babysit you will end up in him/her robbing you. 

2) Choose the right brokers: Brokers are pivotal in trading, they’re the guiding light. When you choose your broker, you’re giving them the power to either pull you up or push you down. Always choose a broker regulated by a national agency.

3) Don’t let temptations get the better of you: The first thing a scammer will promise is huge returns and a lot of money. Remember the market isn’t run by the broker, he only facilitates the trade; trusting a bad broker in an aim to “get easy money” will only end up in a pothole.

Online Share Trading 

4) Document and backup every tiny detail: What separates the smart and the amateur traders is the tendency to maintain records of each detail. A scammer will very easily fool you with your own words with fake numbers and made-up outcomes; the best way to avoid this is by making sure you have each detail written down so that no one can convince you otherwise. 

5) Plan for the best and the worst: No good deal has gone down without a steady plan to back it up. People often underestimate the power of a simple strategy.  The aim of planning is not to help you profit, but to have your back in the event of a loss. Devise a steady plan and make sure no sort of scam penetrates it.

When it comes to share trading, no measure of caution will suffice. Loopholes always exist for scammers to exploit and drag you with it in the process. WesternFX is an established company, trusted by thousands. We provide the safest and the best trading platform in India, which you can be sure of, is devoid of any sort of fraud. 

Sure – Shot Ways to Become a Successful Forex Trader

Description:  Even if you face stress and losses; be diligent and work hard to achieve your monetary success. This article discusses techniques that one must follow in order to be a successful Forex trader.

Forex trading offers numerous opportunities to the traders. Even though it provides a lot of scopes, most of the people that trade fails to succeed in the market. Inevitable, the percentage of people incurring a loss in the FX market is high. To overcome this, follow the steps mentioned below and be a successful Forex trader.

Stop Procrastinating

People who never postpone their work are likely to succeed in their life. This habit is important if anybody wants to succeed in trading. Whatever opportunity arises, it has to be seized. Hence, procrastination should be avoided at all cost. Trying online trading using a demo account is always the best option to keep you busy. 

Practice Leads to Success

If you open a demo account with a reputed Forex broker in India like WesternFX, then you can practice trading using this account. Getting accustomed to the trading platform; its user interface and features will ease your trading problems when executing real-time online transactions. 

Forex Traders n India

Learn Your Way to Victory

Most of the Forex brokers provide educational webinars, eBooks, CDs and more to educate their traders to financial goals. They are usually designed to improve the knowledge of the traders and to enhance their skills. Most of the educational tools contain topics, explanations, training, FAQ section and more. Spending time for learning and making an effort will help you to achieve in Forex trading.

Create a New Approach

Have a clear idea and know the repercussions before executing an order. Being a scalper, positional or swing trader are some of the options available in online share trading. However, it is vital to employ an approach that best suits you. Developing such strategy or technique is time-consuming and needs a lot of patience. Using a demo account will help you to prepare a strategy with limited risks.

Never Overtrade

A professional trader is one who trades for a living and uses a live account. Always switch to a live account from demo, if you got the hang of it. Develop a good insight and the risks that accompany when you carry out live Forex trading. It is advisable to start using a live account within three months of opening a demo account.

Maintain step-losses for all the trades and don’t go over 2% of margin in a single order. Every trader faces loss. So, don’t give in to your emotions and try to reach the financial goals set by you.

The aforementioned steps when followed will lead you to become a successful Forex trader. Partnering with one of the reliable Forex brokers in India like WesternFX will facilitate the process of share trading and provide you with necessary help whenever needed.

Strategies that can help traders increase their average returns

Success in Forex trading is a relative term. It does not refer to a few occasional profits, but marginal gains that are consistent over the entire trading career and ensure that the risk-adjusted returns are always sustainable. Using your trading account in the right manner and with astute planning always leads to rewards. 

The key to getting the best returns in any strategy boils down the math. While Forex trading in India, Traders need to identify the best outcomes based on their position sizes and risk-reward ratios before they execute a trade. 

The following strategies are some novel and effective online trading strategies that provide the best average profits and keep the losses low:

1. Winners Bigger than Losers strategy

In this strategy, traders engage with a simple math in mind. They participate in a number of short-term trades where their only aim is to make more number of profits than the number of losses. They usually engage in a random trade with a random price action but ensure that they bring back maximum profits. This is an arithmetically simple and effective trading strategy.

2. Pyramiding Strategy

In this method, traders execute their positions with a snowballing effect on their mind. They improve on a winning position by adding more capital to the position at predefined intervals. This way, an initial risk of 1R can be potentially turned into an nR profit by adding a new position onto the trade as it moves in favor of the trader.

3. The Reverse Martingale

This method is similar to the one previously discussed. However, in this case, the Forex trader will be doubling and compounding the risk per trade across multiple trades. Here, the trader uses profits from one trade and re-invests them in the next trade. This way, the trader only risks 1R but can compound the profits using the market’s money.

Such novel strategies can enhance the trading account and bring profits to the traders at the same time. These strategies work effectively while Forex trading in mature markets like India. Using trading strategies efficiently can help traders double their rewards. Alongside a great strategy, it is vital for traders to have the guidance of experienced players in the field. Allying themselves with a top Forex broker firm like WesternFX can help them improve their profits and keep their losses low.

How to identify a Forex trading scam and stay clear of it?

The world isn’t exactly a fair place; scams happen in one form or another, people get cheated of their hard-earned money, and it’s only those who’re wise that are unaffected by it all. When it comes to Forex trading in India, the scenario is not any different. With daily trading volumes averaging to trillions of dollars with no accountability and no solid regulation, the chances of falling victim to a scam are high – but not to those who’re smart enough to spot it.

How it all started?

With digitalization, currency trading took on an online avatar, where buying and selling were carried out in front of computers. Early Forex trading scams stemmed from manipulation of bid/ask spreads on the computers. Instead of providing the normal spread, the spreads provided differed between brokers. The higher the spread displayed for a currency pair, the more commission brokers make, thus eating into any profits made.

Modern day scams in Forex trading:

#1) The signal seller scam

Signal sellers are usually a retail firm, a managed account company or even an individual trader. These entities promise to trade on behalf of Forex traders and make them wealthy. With fake reviews, testimonials and faulty evidence to prove their competence, most traders end up trusting them and hand over money to invest in the Forex exchange, only to find them disappear. While most signal sellers are honest and are backed by a genuine reputation, it’s wise to be wary when choosing one.

#2) Trading systems

One of the most prevalent scams is that of trading systems used to start Forex trading online. Some sellers make over-the-top claims and promise absurdly high returns that might seem too good to be true. Many fall victim and spend hundreds of rupees buying such systems, only to find that the “robots” have dumped their money down the drain. Most of these automated online trading systems aren’t submitted for review nor are the claims made supported by substantial evidence. If it’s too good to be true, it probably is – so stay clear of such trading platforms.

#3) Broker scams

Your Forex broker, the one whom you trusted with your money, could be the one slowly working against you. Several Forex traders fall into the trap of unscrupulous agencies who claim to offer trading accounts with flexible bonuses, high leverage and other benefits. A few signs that should signal you of a scam are when the broker doesn’t allow instant withdrawals or when there are persistent problems within the trading station.

Be a winner, don’t be the victim. Keep an eye out for Forex trading scams in India and you’ll be able to make your way through the FX market a lot easier. It’s always advisable to choose the right broker, that’s fully regulated and is trusted by traders. You can’t go wrong with choosing WesternFX, Asia’s award-winning Forex broker.

Why mobile trading is not the right way to trade Forex?

Technology has opened up endless possibilities in Forex trading. Think about it: you’re on a road trip and you suddenly receive news on a major economic event that could turn your trade around. You immediately pick up your phone and pull out of the trade. That’s mobile trading – and there’s an increasingly large number of Forex traders in India who’re turning to this medium to make money in the FX market. On the surface, mobile trading might seem like everything a trader needs offering convenience, ease of use, and the ability to trade from anywhere. But the reality is harshly different.

Let’s take a look at some of the reasons why trading on Forex exchange in India using your mobile devices may not be the right choice:

1) Connectivity issues

Despite massive improvement on the connectivity front by cell phone providers, your mobile devices are still susceptible to fluctuating connections that are harmful for your online trading performance. In the Forex market, even a few seconds/ minutes can spell the difference between a profit and a loss, which is why fixed-line connections are always deemed the best.

2) Susceptible to over trading

Users are constantly hooked to their mobile devices. Forex traders who choose to trade on it will have access to their trading account all the time. While it’s a great way to constantly monitor the markets, on the downside, it increases market exposure and may result in over trading. This habit can be detrimental to one’s trading performance as it’s advised to take some time off the online trading platform for better results.

3) Small screen size

The average mobile screen size ranges from 4 inches to 7 inches. Compare that with your trading account setup on desktop/laptop and you’ll know why size matters. Everything; right from the charts to other vital indicators, must shrink down onto this limited space or be eliminated entirely. These limitations may adversely impact trading on the forex trading market in India.

4) Limited platform performance

Most mobile platforms are optimized versions of the platforms that are originally written for desktops, and thus, the expected performance isn’t up to the mark. Bugs, glitches, slow-loading times or poor UX can rob the convenience of using mobile for trading and complicate matters.

5) Deviates your from your focus

It’s not that computers don’t pose a distraction, but mobile phones can multiply it times ten. You might get inbound calls, notifications or other distractions, that will sway you from your actual goal. Remember, focus is the key and if you lose that you’re bound to make mistakes that will eat into your investments.

While mobile trading offers you the convenience of Forex trading on-the-go, you need to be mentally prepared to face delays in execution, price updates and other issues that arise. For optimal performance, you need to adopt a multi-pronged approach wherein you trade using multiple platforms without restricting yourself to one. WesternFX, a leading Forex broker, offers MetaTrader 5 which can be accessed from multiple devices.