Identifying Forex Trading Scams And Keeping Them At Bay

Initially, Forex traders only had the market risks to fear. But today, scammers and cheats have made the Forex markets a dangerous place. The legitimacy of Forex trading is questioned by many due to the several lies scammers spread in the currency markets. 

Though there are a number of regulatory bodies like the NFA and the CFTC, many brokers still continue to lure in novices with false promises of profits. When they start off as beginners, traders are seldom able to differentiate between myths and facts, and as a result of this, they fall prey to the cheating broker's lies easily. As a newbie trader, it is crucial that you are aware of how scammers cheat in the markets and how you can stay away from them while Forex trading in India. 

forex trading strategies

 Here are some trading scams to stay away from:

1) Manipulating The Price:

As a beginner, you won't know more than half of what's going on around you while Forex trading in India. This gives brokers the perfect chance to cheat you by manipulating data. The simplest example for this is that they give you wrong entry/exit information, leading to your inevitable loss. However, they'll have made a good profit from the spreads paid! 

2) Empty Bonuses: 

Many brokers have the concept of bonuses. They promise loyalty bonuses to traders who trade with them for a long time, and even entry bonuses! While this isn't always a bad thing, because many reputed agencies do this too, cheats are always looking to connive the innocent trader into their schemes that ultimately drive the trader towards losses. 

3) Improper Stops: 

When you start off Forex trading in India for the first time, you'll not know much about placing stop-losses. Even with Forex Demo practice, this skill takes time to perfect. A bad broker will tell you to ask them for stop guidance and end up giving you wrong data yet again, watching you lose money as they make more. 

4) False Profit Goals: 

One of the easiest ways of tricking a trader is by promising money and profits. Brokers will approach traders, lure them in by promising them quick returns and telling that their investments will multiply overnight. However, that will never happen, and the trader's investment will only get subtracted overnight. 

As you begin Forex Trading in India, the market risks will keep you from seeing success. But with regular practice, you will see profits in no time. Reach out to our experts at WesternFX today and avail our world-class Forex brokerage. Backed by our seasoned professionals, you'll be able to avoid big risks and pocket profits consistently. Call us today to know more!

5 Things To Remember While Availing Forex Brokerage

The quality of brokerage availed plays a key role in deciding the outcome of your trades. In today's competitive foreign exchange market, profiting is a challenge. Without proper Forex trading strategies and charting tools, you are bound to lose your exchanges. 

However, backed by a knowledgeable broker, finding success won't take too long! Many novices are hasty as they begin and end up availing brokerage from inexperienced brokers or worse yet, from scammers. Who you hand your money to will matter a lot in Forex; there are a number of brokers who employ foul means to make money. The goal is to find a broker who is as invested in your success as you are!

demo trading account

Here are 5 things to keep in mind while availing Forex brokerage:

1) Regulation: 

Since Forex trading is such a risky domain with several loopholes for brokers to exploit, regulatory bodies like NFA and CFTC are in place. The first most important thing to check for is regulation. If your broker is regulated by a reliable body, you can trust the agency. Be wary however that regulation alone isn't enough to gauge a brokerage firm's reliability anymore! There are a few more factors to consider. 

2) Spreads And Commissions: 

This is where research comes in handy. You will have to compare the spreads charged by multiple brokers to ensure that the one you sign up with isn't fleecing you. Many brokers purposely put traders through bad trades solely to make spreads off of it! 

3) Demo Solutions: 

Working with a Demo Trading Account is an incredible way of gauging if your broker offers quality solutions. On a demo platform, you can place virtual trades and avail some guidance from the broker. If said guidance is worth, avail their brokerage. 

4) Customer Service: 

Many traders have similar complaints while Forex Trading in India - the customer service from the broker is bad. When you have trading doubts or want assistance through trades, it is your broker's duty to help you with it. And if the customer service is bad, it isn't worth your money. 

5) Ratings: 

Another easy way of finding the value of your broker is by seeing the ratings left by other traders. Either through forums or listings identifies what other traders have to say about your broker and make a move accordingly!

To succeed at Forex Trading in India is easier said than done. With the markets risky as always and the competition brimming, you will need the backing of an expert. Reach out to WesternFX! One of the leading Forex brokers in the markets, we house some of the smartest minds in Forex. Our professionals will provide you with top-notch brokerage at pocket-friendly costs! Guided by us, success will be in your grasp swiftly. 

The 3 Main Benefits Of Trading In The Forex Markets

Every trader wants to participate in profitable exchanges and make quick money. This is why most flock to the currency trading markets. The misconception around Forex trading is that it is easy and provides a quick ROI - but this is absolutely incorrect. Forex trading is definitely a profitable market, but many mistake it to be an easy one. 

To succeed as a Forex trader requires a lot of patience and resilience. However, all of it pays off in the end as you get to make stellar profits in each trade. The reason behind there being thousands of currency traders is because of the immense viability this domain carries. Its advantages outweigh the disadvantages exponentially, making it the perfect trading market!

Forex demo in India

Here are 3 reasons why Forex trading is an incredible field:

1) Go Long And Short:

Selling short is a feature first and best observed in the Forex Trading In India markets. As a currency trader, you can trade long and short both. Forex trading works with currency pairs, where one currency is quoted against the other, and a profit is drawn by either going short or long depending on the market. 

If you believe that one currency is going to go up against the other, you will buy the pair, which is essentially going long. Similarly, if you think that the currency is going to decrease against the other, you go short by selling. Hence, you can profit from both situations so long as your speculation is right.

2) Trade Round The Clock:

One of the most incredible benefits of Forex trading is the 24 hour market. From 9 pm to 10 pm GMT, you have a huge trading window to capitalize on. Being a global market, you will have exposure to different time-zones and be able to trade a variety of currencies. 

Wanting to trade a major currency but not being awake to do so would be a problem and this is why a 24 hour market is hugely beneficial since you have the entire day and night to trade! 

3) Enjoy High Liquidity:

The Forex market is unrivaled in its liquidity. Over $5 trillion get traded every day, making currency exchange incredibly lucrative. At any given point of time, you will have counterparty for your exchanges! 

The volume of traders is what makes Forex trading so liquid, along with its direct link to various economies worldwide. Done right, you can walk back from each trade with huge profits. 

Forex trading in India is gaining traction swiftly, and now's the right time to hop aboard the bandwagon. Reach out to WesternFX today and avail our world-class brokerage! Our experts will provide you with stellar currency trading solutions and see you through to victories. Call us now to begin trading!

What Makes Forex Trading An Advantageous Financial Market?

A trading domain that sees millions make trades every day, Forex exchange is harrowingly risky and all the more lucrative. While the profit aspect of Forex trading is evident, there are several other advantages that make currency exchange the viable field it is today. 

From CFDs to stocks, there are a number of trading markets out there, and yet it is foreign exchange that sees the most crowds! One might argue that this is because Forex traders get more profits, but that's not the case. Each trade market comes with its own profitability; what makes currency trading viable is beyond simply money.

Forex Demo

Here are some incredible advantages of Forex trading:

1) Leverage Your Profits: 

A provision not available in most trading markets, Forex allows you to leverage your trading position and boost your profits by a huge margin. Leverage is essentially the money borrowed from your broker, with which you will be able to access trades of much higher value than usual. It is important to know that leveraging works both ways. You can both improve your profit potential and make room for greater losses depending on how adept you are at leveraging. 

2) Enjoy Liquid Markets: 

With millions of traders available in the markets 24x7, you can rest assured that your trades will always have counterparty. Liquid markets allow you to improve your profit potential and carry out numerous exchanges. 

3) Very Low Starting Requirements: 

To get started with Forex Trading in India is very easy! Unlike other trading domains, the capital requirements are minimal in Forex. With a few hundred dollars and a good trading platform, you can get started. Similarly, achieving growth will happen seamlessly while trading currencies. 

4) Trade Round The Clock: 

The 24 hour market you find while Forex trading in India is a sign of its liquidity and profitability. You aren't bound by time and can place trades across any time zone! 

Forex trading in India can be incredibly lucrative if you know your way around the markets. With a knowledgeable broker by your side, you will be able to gain mastery over Forex in no time! Join hands with WesternFX today and take to the top echelon. Power your trades with our stellar strategies and work on our amazing Forex Demo trading account to see the magic for yourself! Call us now to know more!

How To Take Risks That Pay Off While Forex Trading?

As a newbie Forex trader, it is natural to believe that money comes easily while trading currencies. But things aren't that straightforward in the domain of Forex trading. A lot of time, money and effort have to be invested in order to see success as a currency trader. Striking gold sometimes happens through sheer luck, but luck can only move you so far before market risks start disrupting your trades. At the end of the day, it is adept strategizing, skillful implementation and immaculate risk management that will make you profitable.

Forex trading isn't as simple as opening a position and walking out with profits! Depending on how the markets are faring, your trades will face a lot of volatility. And before you know it, you will be incurring big losses in your exchanges.

Demo Trading Account in India

Here are some simple but effective risk management tips for you to follow:

1) Don't Go All-In: 

Going all-in while investing always seems like a heroic entry, up until the point where you burn your trading account halfway into the trade. One of the biggest reasons behind losses in Forex Trading is because traders invest everything they have. Save some money for a rainy day, allot some risk capital and trade with what's left. 

2) Measure Your Risks: 

If you know how to risk smartly, you will see consistent profits in your exchanges. The simple act of gauging whether or not a particular risk is worth taking, can take you a long way while Forex trading. 

3) Observe And Adjust Your Risk-Reward Ratio: 

When you take a risk, the rewards made must be worth said risk. There's no point putting money into trades that don't reciprocate! At the same time, it is important not to take too many risks at the same time. 

4) Control Your Leverage: 

A provision availed to hold trades of higher value; leverage can be incredibly beneficial when implemented right. You can multiply your profits by several times with adept leveraging, and also lose your entire trading capital if you don't employ caution. 

Get yourself a good Demo  Trading Account in India and learn how to balance your risks! Reach out to WesternFX today, and avail our world-class risk management guidance. We will equip you with winning Forex Trading Strategies and assist you through each trade. You will learn how to take healthy risks and avoid costly losses in no time! Call us now to get started.

How To Become And Remain A Profitable Forex Trader?

Profitability is one of the few constants on every Forex trader's mind. Being an incredibly lucrative field, foreign exchange does a great job of attracting the masses. But only when they've entered the markets do they realize the difficulties Forex trading has. 

Becoming profitable as a Forex trader is far easier than staying profitable consistently. Even if you spend weeks learning and making tons of profits, one bad trade will easily wipe out the amounts you've won! 

Forex Trading Strategies

Why Do Traders Lose Money?

Primarily, losses can be blamed on two things - the market and the traders themselves. Since a country's currency value is directly bound with its economic, social and political disruptions, getting precise value speculations is a tough task. Several times, sudden movements happen in the market, due to one of the three mentioned factors getting affected, and these movements completely throw traders off. Even with stop-losses and other loss-management strategies, slippages happen and losing money is the only natural outcome! 

Aside from market factors, most losses hold traders responsible. Mistakes like holding on to a bad trade or trading without stops leads to losses of immeasurable amounts! Even experienced traders end up losing every now and then. 

Proper planning itself can save you a ton of money while Forex trading. Novices, driven by the desire to make big money, rush into trades without a proper plan! Everything from the entry to the stop-loss placement has to be planned precisely, and apt Forex Trading Strategies should be implemented.

The Importance Of Being Realistic

Expectations might seem like a trivial, underlying element of your trade, but they play a huge role in defining your movements. Your expectations are the goals you will be driving towards. And if they are unrealistic, you will be navigating towards nothingness! While Forex trading, it is important that you know what to expect from your trades, because the efforts put in will all be according to this. 

Prioritize Forex Education

Lack of education can get very costly down the line. In today's digital age, lots of free resources are available online. Everything from Forex trading strategies to indicator implementation can be learnt through videos, blogs and podcasts! Aside from this, investing in a good Forex demo account will also pay off. Demo trading will give you a realistic trading experience, allowing you to learn how currency exchanges are carried out.

Get yourself a good demo platform from one of the finest Forex Brokers - WesternFX! Reach out to us today, and avail our world-class brokerage. We will help you learn everything from strategizing to risk management, and ensure you see stellar success in your exchanges. Call us today and let's get started!

7 Easy Forex Trading Tips To Make Consistent Profits

Profits are a difficult find in Forex. Thousands of traders take their shot, but only a handful see the light of success. Forex trading is a field that can become very strenuous and demanding. Everything from the indicator to the strategy has to be perfect! When your approach is haphazard, you end up giving more room to market risks that will effortlessly topple your winnings. As a beginner, the path ahead might be studded with difficulties, but with a little guidance, you will definitely make it to the top.

Forex Trading

Here are 7 incredible Forex trading tips to better your approach: 

1) Learn One Approach Thoroughly: 

There are a number of Forex Trading Strategies you can follow, pick one and master it. Once you have good control over one approach, you can slowly progress towards different strategies and keep diversifying. 

2) Don't Get Emotional: 

Emotions will hinder you as you trade. Fear, confidence and greed often interfere and siphon in negativity. When you're afraid of losing, you trade irrationally! The same happens when you're overconfident. This is why emotional serenity is a must when you trade. 

3) Avail Accurate Signals: 

Forex trading signals will be of immense use when trading currencies. But the trick here is to avail signals from a reliable provider. Many signal providers will be inaccurate and might only be fleecing you. With accurate signals however, you will be able to capitalize on trends hugely.

4) Demo Practice Amply: 

On a good Forex demo account, you will have much to learn. Before taking to live trades, get yourself a demo platform from a reliable broker and practice diligently. 

5) Stay Fixated On Your Goal: 

The market is never going to remain constant, but your focus has to. As a Forex trader, you will have to stay fixated on the target you want to achieve and will it so that you make it! Keep away the minor distractions and aim at the apex. 

6) Keep Away Overconfidence: 

You might at times win trades consecutively and get overconfident. And this is but an ingredient for failure. Staying down to earth is what will get you past the tougher trades. 

7) Complex Systems Won't Help: 

Don't believe in the common myth that complicated Forex trading strategies bring in success. You can make profits even with a simple approach, provided you implement it right. 

The market is filled with a number of Forex Brokers, get yourself the best one. See consistent success come your way with WesternFX by your side! Avail our stellar brokerage and watch yourself transform into a brilliant currency trader. From demo trading guidance to live-trade assistance, we will provide you with the best! Call us today to get started.

The Importance Of Forex Risk Management In 2019

Try as you may, you won’t be able to profit without risking first. The very nature of Forex trading is such that with the market volatilities being high as they are, big risks have to be taken at times to make big money. Hence, the need for adept risk management! 

In Forex, there are affordable risks, and expensive risks. The former are necessary and only yield losses you can manage, the latter however, will result in unmanageable repercussions. This is why risks have to be pre-calculated and taken with a lot of caution! But risk management when done right will help you secure a lot of profits while carefully dodging losses.

Demo Trading Account

Here are 4 simple but very effective risk management tips: 

1) Learn How To Place Stops:

Stop-losses are one of the best provisions in Forex Trading. Without stop orders, curbing losses would be close to impossible. However, simply placing a stop haphazardly isn’t going to do the job. If your stop is placed too early, your position will be removed from the trade before any movement! When placing a stop, make sure it isn’t dangerous to your trade and at the same time, the potential losses are significantly lowered. 

2) Asses Your Risk Affordability:

There are risks you can take and still live to trade another day, and there are the ones you can’t. These risks have to assessed on grounds of viability, profitability and survivability. If a risk isn’t viable, you don’t take it, if it isn’t profitable, you don’t take it and if you can’t survive taking that risk – you don’t take it! 

3) Cut Bad Trades: 

Bad trades are common while Forex trading and every trader loses money over these exchanges. The point to note is that you should cut losses and bad trades as they come. Some have the habit of holding on out of hopes that the bad trade will turn around and profits can be churned out. But if that doesn’t happen, you lose big. So don’t take that extra unnecessary risk – cut your losses as they come.

4) Have Real Expectations: 

You might wonder how expectations are related to risks. Well, you will risk big if you expect big profits, and you will risk bigger if you expect unrealistic profits – learn to segregate between these two scenarios. 

Get yourself a Demo Trading Account right away and start practicing your risk management skills! With the experts at WesternFX guiding you through the various levels of Forex, you will be able to master risk management swiftly and be on your way to making profitable trades in no time. Reach out to us today to get started! 

How Risking No More Than 1% Is Helping Forex Traders Profit

Forex trading is a domain where risks are ever-present, and you have to maneuver around them. Trading and risks go hand-in-hand; starting off, you'll find several traders trying to dodge risks by playing it too safe or find ways to trick the market - neither approach works out. The only way to make big profits in Forex trading is by taking big risks, and the only way to not lose money doing so is by following disciplined risk management strategies.
 

A risk management strategy isn't like the typical Forex trading strategies. The former is more intricate and takes into account various factors of your trade. Every now and then, chances have to be taken in order to climb up the ladder. As a Forex trader, you can either take the safe route and find contentment in small profits and breakevens or risk a good few times and walk home with hefty profits. This risk varies from trader to trader. 

If you're a novice with minimal capital, you should stick to making affordable risks. Traders with a lot of capital and experience are often seen making bold moves since they can afford big losses.
 

The 1% Risk Rule:
 

Know How Forex Trading Risk Management Helps in Making Profits

Risk management is as psychological as it is physical. Trading has a lot to do with the mind, and if you can instill some strict habits in your mind, you'll be able to see consistent profits. This is what the 1% rule aims to do; it keeps you from risking any more than necessary and sees to it that you lose no more than 1%. If you have $10,000 in your trading account, losing 1% of its - $100, would not be too huge a loss. What this rule aims to do, is change your mindset of trading into a more cautious one. 

With only 1% risked or lost, you will not lose your trading vigor and won't be affected too heavily by the lost money! And at the same time, your 1% risk still carries significant value in trades, has ample chances of bringing in profits and keeps your movements viable.
 

For long-term Forex trading in India, the percentage risk rule will work great. You will come across various sources stating 3% to be the ideal limit, this ultimately boils down to your risk threshold. Should you be able to afford a 3% risk and loss, you should go for it!
 

Planning on Forex trading in India? You've come to the right place! WesternFX will be your risk partner through thick and thin! Our seasoned experts have years of experience trading currencies and will provide you with the necessary risk management guidance. Call us today and get started on our stellar trading account! 

Things to Ask Yourself Before Starting Social Forex Trading in India

Social trading has become quite popular over the last few years. With many traders entering the Forex trading markets looking to make a quick buck, only a handful of the crowd has the time to devise their own approach. This is why several traders have started employing the social trading approach. This method lets traders follow trading moves professionals devise. And by employing a copy trading platform, they're able to mimic the trade an expert makes! 

For traders who don't have enough time, or for the ones who wish to deeply understand how professionals trade, social trading is an amazing technique.
 

Here are 4 important things to know before you begin social trading:
 

Things to Ask Before Going Social Trading

1) Copy Trading Won't Let You Be Original: Forex traders enter the domain of trading in order to be free. Free from their bosses, free from the corporate struggle from 9-5 and free to employ their means of choice to trade. But if you employ social trading, you'll be relying too much on other traders and their strategies. Ultimately losing your authentic touch to each trade. Make sure you're aware of this fact before you begin trading socially.
 

2) Social Trading Isn't Free: Copy Forex trading isn't free. Following professional traders will cost you a good sum. Of course, you have a better chance at profiting and the expense might be worth it, but many traders seem to have this misconception that social trading is cheaper.
 

3) Patience Is A Must-Have Trait: As a copy trader, you will be working with the strategies professionals follow. This means that patience will be of utmost importance. Some Forex exchange strategies will see results quickly, but most won't. To make the most out of your social trading career, you will have to stay patient and wait for the results to show. Many traders fail early because of their hastiness and want quick results. Get a Forex demo trading platform and try it out first!
 

4) What Works For One Trader Might Not For You: By copying the tactics of another trader, you can't establish that you will see the same results. Several underlying factors will come into play here. The currencies used, the Forex trading strategy employed and the timeframe picked, for starters. Depending on these factors, the strategy used by an expert might work for him/her, and the same, when employed by you, might not bring in the results you expect.
 

Forex exchange can get incredibly exciting, but staying in the domain just for profits isn't as fun. If you do lack the time to trade, copy trading is a good start. And down the line when you trade full-time, you will need the assistance of a stellar broker! Call WesternFX and avail our world-class Forex trading solutions.

Top Tips Every Beginner Stock Trading Investors Should Aware Of

It is a motivating sight, seeing thousands of stock investors get financially stronger by pursuing a career as a share trader. Stock trading has long since been known as one of the most lucrative trading domains. High returns can be made with adept strategies at play, and there is seldom a shortage of opportunities to capitalize on. As a beginner, it is natural to feel overwhelmed by the stock market. The number of stocks to choose from is vast, each with its own set of defining values. 

In addition to this, there are a lot of underlying factors that affect the share market and stock values that traders have to educate themselves on.
 

Here are 4 tips for newbie stock traders to follow for better results:
 

Stock Trading Tips for Beginners in Indian

1) Have Realistic Expectations: Expecting unrealistically from the stock markets will do you no good. Stock trading isn't like the casinos; you won't always see big wins come by. The modern stock trader is ever so impatient and ready to jump without gauging the viability of a trade! If you are hasty, the first thing you will realize is losses. Stock trading is a field where patience plays a bigger role than anything else.
 

2) Explore Multiple Investment Opportunities: There are a variety of stocks and strategies to follow, if diversification on these grounds doesn't suffice, go even further! Try your hand out at Forex trading or CFD trading too. Remember, they are all investments. So long as you know your way around and have trading discipline, you can profit in all domains.
 

3) Know The Basics: The basics make up for most of your typical trade. Without knowing the simpler elements of the stock market, thriving will become close to impossible. Before you delve deep into share trading, ensure that you can handle trades as they come. Many traders take a staggering fall because of their lack of knowledge on the elementary stuff!
 

4) Invest Judiciously: You will come across a number of stocks to invest in. However, not all of them will be viable. A lot of research has to be done to measure the efficiency of a particular stock and invest in it accordingly. Be judicious in your investments, else one bad trade will easily wipe away the profits made.
 

Join the stock market hype and bag yourself hefty profits! With WesternFX by your side, you can avail world-class share trading solutions. From equipping you with a stellar trading account to guiding you through trades easy and tough, we will be by you through each step, all the way till you reach the very top! Call us today and get your stock trading career rolling!

Top 4 Reasons Why Traders Choose Forex Trading in India

If you were to observe keenly, you'd notice that the crowd circling Forex trading markets is much bigger than the ones around other trading grounds like stocks or options. The reason behind Forex trading markets being so sought after is primarily because of the huge profit potential. However, that alone isn't the catch. In terms of rewards, viability and convenience, Forex exchange stands out proud. While other trade markets are undoubtedly profitable in their own way, there's still a gap between them and foreign exchange, and we'll see why.
 

Here are 4 reasons why Forex trading markets are the apple of every trader's eye:
 

Why Peoples Choose Forex Trading in India

1) Traders Take The Driver's Seat: As a Forex trader, you get to be your own boss. The typical 9-5 environments can get very mundane and tiresome after a point. But with Forex trading as a career, you won't have to worry about being trapped in a box! All the freedom is yours to take. Currency exchange will allow you to control everything from trading times to the approach followed.
 

2) 24 Hour Trading Markets: Forex exchange markets are open 24 hours a day, five days a week. This means that there will never be a shortage of trading opportunities. 24 hour markets also mean that you can trade from anywhere in the world, without having to worry about the window closing. The catch here is that currency pairs aren't always lucrative; currencies are sometimes profitable and sometimes dormant depending on the timeframe they are traded on.  
 

3) Leverage Provisions: Got only $500 of trading capital? No problem, with some added leverage, you will be able to hold positions of a value more than what your capital allows you to! Leverage is the money provided by your broker, that will increment the existing capital you have and in doing so, allow you to hold positions of higher values. When you leverage trades, the profit potential goes up by a huge margin.
 

4) Nominal Starting Costs: With a few hundred dollars and a good laptop you can get started with Forex trading in minutes. The low starting costs allow almost everyone to get themselves a trading account and start making trades without having to shell out too much. 
 

Fascinated by Forex exchange yet? This domain is growing big by the minute, and you can be a part of it right away! Start your career at Forex trading in India right away, with the professionals at WesternFX by your side throughout. Our experts will coach you diligently, and back you up on good trades and bad ones. Call us today and we can get started in no time! 

6 Tips To Win Trades With The Right Forex Trading Signals

With too many elements crowding the Forex markets, the assistance of some sort is needed to land profitable trades. Profiting is on every trader's mind, but if Forex trading in India were an easy domain, we'd see one too many people drowning in money! Experienced currency traders don't necessarily have it easy, but they are skilled enough to manage the intricacies of a trade. Novices and intermediates, on the other hand, will undoubtedly need guidance.
 

Since the currency markets are a blend of novice, intermediate and experienced traders, the trading grounds need to be fair for all. The experts might be able to ace trades while the novices struggle to reel in positive results! This is where Forex trading signals come in. Forex signals are employed to find out the best time to enter or exit a trade and whether to take profit or cut losses.
 

By taking the cumulative data of past market trends and the information provided by the news and other media, trading patterns are generated to help traders act swiftly and precisely.

Here are 6 ways to make the most out of Forex trading signals:

Tips Win Forex Trading with Right Trading Signals

1) Choose Your Currencies: Before you can utilize Forex trading signals, you need to pick currencies that work best with your approach. Each trader has a preference of his/her own when it comes to trading. Some want to work with lighter currencies, on less volatile markets; some enjoy the intensity of a scalping strategy. To employ signals, it is of paramount importance that you first decide on a good currency pair.

Only then does it make sense to avail signals for said pair and work with the information derived from them.
 

2) Find The Best Signal Provider: Much like there are scammers in the brokerage market, there are signal providers who bait traders in with false promises and loot them in broad daylight! A Forex trading signal in itself isn't always going to be accurate and might fail you on days, but if this has to be topped off with a provider that fleeces you or cheats you, it's a bad deal altogether! When searching for a signal provider while Forex trading in India, take your time going through user reviews and ratings. 

Employ all the quality-check tactics available before paying for their services. 
 

3) Demo Test and Check The Quality: If ratings don't satisfy you or are translucent, the next best thing to do is try a demo. Many Forex exchange brokers provide demo trading in India, for their platform and signals both. Demoing allows you to check all aspects of a service first-hand. Be it simply measuring the accuracy of their signals or the promptness and quality - with a demo account set up, a lot can be accomplished. 

Traders often end up making real-time trades without demo testing anything. This leads to them not having the necessary platform knowledge and not knowing the quality of a broker's service!
 

4) Begin With Small Investments: Signals aren't a magical spell to multiply your profits - they can be inaccurate on many occasions. This is why traders are always advised to make small investments and slowly increase the numbers. When you're employing Forex trading signals, you might feel like going all-in thinking the signals will hit the bull's eye. This, however, is a grave mistake. Even with sharp signals at your disposal, you should aim at keeping your beginnings small. 

Should an inaccurate signal drive you to making bad trades, the losses made thereon will be immense! 
 

5) Study Your Trades Keenly: Forex trading signals are only useful when you employ them right. Merely availing signals and having the speculation data won't bring home profits. Make sure to study the trades you're planning on making. When you are aware of the many ways your trade can play out, you can make the most out of the signals provided!
 

6) Research The Markets: Forex exchange is a lucrative market no doubt, but it isn't profitable 24x7. There are patches when the prices fall and chaos seeps in. During such phases, having signals is no different than trading blind! Before you employ Forex trading signals, do an in-depth market research to make sure conditions are in your favor.
 

As it is, Forex trading in India is immensely risky. The markets are volatile and profiting on currency trading grounds is easier said than done! More often than less, directional assistance will be required. With the backing provided by strong Forex trading signals, you will be able to bag stellar victories! Top this off with the world-class brokerage you will find at WesternFX and you're all set to become a successful Forex trader. Opportunities lie in plenty, don't wait - join hands with us today and get started!

Why Traders Should Avoid Taking Early Profits in Forex Trading

Beginners make the common mistake of leaning too much towards one of two dangerous market extremities - closing trades too early and holding on to trades even when losing. The former can keep you away from potentially huge profits, while the latter can lead you to incur potentially devastating losses! The blunt truth of Forex exchange is that traders ought to focus more on minimizing losses than on maximizing profits. A few good trades will bring in good money, but one bad trade is more than enough to empty your account completely - that's how volatile Forex trading can get.
 

Forex Traders Should Avoid Taking Early Profits While Trading

 

To elaborate the reason behind Forex traders taking profits too early, each trader is governed by fear, greed and ambition. The need to make money is what drives most, if not all Forex traders. While wanting to make profits is only a natural emotion in Forex exchange, getting consumed by the need to earn is what leads to a swift downfall. Traders fuelled by greed take early profits because of FOMO (fear of missing out)! They tend to follow the misguided belief that if they don't bag profits as they come, they might miss out altogether.
 

The fear of missing out has led several traders to early losses. Traders grow more skeptical by the minute and start housing the fear that letting a trade continues might at some point bring in losses! While taking profits is no crime or a huge mistake, it is when you take that is the deciding factor. Small profits come with a certain level of safety; this tends to comfort most traders as they turn a blind eye to the bigger picture!
 

Big profits are accompanied by bigger risks - that's the nature of Forex trading. This doesn't mean you should completely close out the idea of taking risks at all. Fearing losses is natural, and in fact every trader should have a certain level of fear. However, taking healthy amounts of risk will do you no harm! Even if you are to lose a trade, you will learn from it and this will help significantly down the line. Early profits seem more promising in terms of safety, but the time needed to grow as a trader with these profits is mammoth. 

What you can do instead, is start by incrementing your investments and taking risks gradually. This will slowly eliminate the fear of missing out, and make you a trader that is risk-smart and incredibly adept.
 

Stellar profits await the trader that is willing to make the leap! Sometimes you fall, sometimes you make it to the other side; it is the journey that matters most while Forex trading, not the destination. Join hands with WesternFX today, and learn how to trade from our trading veterans! We will help you grow as a trader at your own pace, and take you to the peaks of success! Call us now to know more.

Treat Forex Trading like a Hobby & It Pay You like a Hobby

Many investors fail to realize that trading is quite an intensive process and if they do it as a hobby, they will not be able to observe major results as they might want to. It is like a professional business which demands your attention and effort. You must mind it as much as you can to improve profitability and achieve huge financial breakthroughs.

While going that extra mile will certainly turn out to be rewarding, here are some simple tips & tricks which will help you improve your online trading experience and make it more fruitful!

1) Learn from the Experienced:
 

Treating Forex Trading Like an Hobby will Pay You

It is key to learn from those who have already traveled the journey you are about to embark. You may not experience the exact same process, but there certainly would be a lot of similarities. More importantly, learning the lessons which they did by committing mistakes will keep you from them and actually save you the trouble and pain that follow. This way, you can trade like a pro right from the beginning of your journey!

2) Understand the Psychology Of The Game:

Trends are largely stimulated by psychological influences. If you understand how humans react to the market, you will be able to make predictions which are most likely to be true. So, it is vital to decipher the market’s psychology and look for trend indicators which point you towards a likely investment opportunity!

3) Have Patience:
 

It isn’t really as easy as it sounds. You may be tempted every now and then to make investments, but you have to be sure that you will reap profits later on. Remember, you can win big and lose big in this business of trading. For instance, really want to have all the data you can get hold of to eventually confirm the favorability a particular Forex exchange. Only then, you may safely proceed with your investments. 

4) Try Demo Trading:
 

Online trading is something you don’t master just by gaining knowledge. You need to experience it for yourself. But since that can be expensive for many, it is recommended to subscribe for a demo account and play around with virtual money to test and hone your trading skills. This way, you will grow confident as you will get an in-depth understanding of how the market really works.

5) Keep Things Simple:
 

There are lots of charts and strategies available when it comes to trading. You don’t have to employ everything. They are just different methods to arrive at the same destination. So, don’t make the mistake of overdoing analyzing the data you’ve collected. Look for a reliable pair and go for the investment after you’ve got the confirmation and your trade is set up. Many times, you don’t have to trade a lot of pairs; one or two is actually enough.

At the end of it all, you must remember to protect your capital. There is a high chance that you might lose months’ worth of profits by undertaking unnecessary risks. So, play as safe as possible! WesternFX is a leading Forex broker with unparalleled expertise in Forex trading. Get in touch with our experts to avail our services and reach stellar heights with our profit-stimulating strategies!

CFD Trading Tips of the Year 2019 for Beginners | Earn More

Professional CFD traders are in a level of their own, and this is because they follow a disciplined approach at all times. Be it in regards to strategies or emotional control - they hone their skills and implement cutting-edge techniques! As a novice trader, being fascinated by their approach is only natural. The beginnings are the toughest, as the climb to the top seems impossible. However, when you follow the same meticulous approach these professionals do, you can see success in no time!
 

Here are 6 professional CFD tips for you to implement:
 

CFD Trading Tips of the Year 2019

1) Protect Your Capital: Without your trading account carrying the necessary revenue, you won't be able to trade peacefully! Another disadvantage of having a trading account with inadequate capital is that in the event of a loss, you will get completely drained out since there's no risk capital present.
 

2) Keep Stop Orders: Stops and limits ought to be given the importance they deserve. With a well-placed stop order, you can avoid potentially destructive trades and walk out of them safe and sound! However, keep in mind that placing a stop prematurely or too deep down will either pull you out of your online trading venture before realizing profits or result in tumbling losses.
 

3) Don't Leverage Too Much: Leverage is truly one of the most beneficial features of CFD trading in India and definitely a big reason why many traders flock toward these markets. When you cross a certain leveraging line however, you are risking more than you can afford and losing such trades will be catastrophic.
 

4) Always Trade Towards a Goal: Trading aimlessly is never going to bring in results. Don't make the novice mistake of simply trading with no foresight. Keep a fixed goal, even if monetary, and trade towards it with a disciplined and dedicated approach.
 

5) Follow a Proper Trading Plan: To succeed at CFD trading and have a successful run, you will need to draft and implement sturdy strategies. Make sure your trades have the best ones running in the background!
 

6) Take Losses as a Lesson: Let the losses you make serve as a lesson, rather than a factor that holds you back. While CFD trading in India, it is natural to lose some trades - learn from them, avoid the same mistakes and move on to the better exchanges!
 

CFD trading in India is an incredibly profitable career option today, and you can see rapid success in this domain. With the backing of an expert broker like WesternFX, success will be imminent! Partner yourself up with us, and master your CFD trading approach. Right from strategies to modern platforms, we come equipped with state-of-the-art provisions to ensure your trades see success. Call us today to know more!