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!