4 Important Questions To Ask Yourself To Succeed At Forex

Achieving trading success in the chaotic domain of Forex is easier said than done. With a huge number of hurdles ahead of them, traders often lose a huge amount of money right off the bat. The risky nature of the foreign exchange market gives off an aura of impossibility, and yet we see a lot of traders emerge successful through their ventures! This is because succeeding at Forex trading requires a lot of focus, discipline and patience. While the more technical aspects like strategizing and analyzing do carry equal importance, some factors outweigh them. 

Forex Trading

 Here are 4 things to consider if you want to see consistent success in Forex:

1) What Are Your Strengths?

Forex trading is a domain of tremendous flexibility. From timeframes to strategies, to currencies, there are a number of categories and you can't perfect everything overnight. So find out your strengths first; if you are good with shorter strategies, stick to day trading, scalping and so on, similarly, if long-term, patient trades are your strengths, go long. 

2) Where Do You Fall Short?

Identifying and analyzing failure is important while Forex Trading. Many novices fail to get back up once they are down because they don't analyze why they fell! In the Forex trading markets, you are bound to lose on one occasion or the other. Instead of crying over spilt milk, analyze your mistakes; see where you went wrong and how you can avoid it. This self-analysis will help you mitigate a number of silly errors and see a greater profit chance. 

3) How Can You Improve?

Improvement should always be your first priority as a Forex trader. Given that you are bound to make frequent mistakes in the currency trading market, you will have to keep bettering your techniques and hit back harder! This is where good Forex brokers come in handy, with their guidance, you will be able to improve on your techniques swiftly and hit the ground running. 

4) Is Risking Affordable?

This question you should ask yourself before each trade made. Taking risks is necessary, hence the need for gauging their necessity and viability. Going over the board with risks often leads to irreparable losses! 

If you are able to get a positive answer to these queries, open up a Forex Demo Account today and get started with currency exchange! Our experts at WesternFX will back you through each trade, provide excellent guidance and ensure you see victory. Work with some of the greatest Forex minds and power your trades with world-class Forex trading strategies - call us today!

3 Tips To Start Forex Trading On A Successful Note in 2019

Forex trading is a domain where finding a good start is often considered impossible. Given the massive amounts of volatility surrounding this field, it is no surprise that only 20-25% of Forex traders see success! The physical requirements to start off trading are easy - all you need is a laptop with internet, a trading platform and a good broker. 

However, once you're in the Forex trading markets, things take a drastic turn. The beginning is always the most difficult part while currency trading, solely because as a beginner you will have very little knowledge and the markets around you will be overwhelming with information.
 

Here are 3 trading tips for aspiring Forex traders to find success:
 

Tips to Beginners for a Successful Forex Trading

1) Watch The News: When you're a novice Forex trader, no one will tell you the importance of reading/watching the news. Every bit of information, small and large, is often conveyed via the news. Currency trends, political disruptions, economic events etc. - you will find the information on all these if you go through the news on the regular! And as a Forex trader, it is important to have this data on your fingertips. Most, if not all of your trading decisions, will rely on these factors. A country's economic state, for example, plays the most vital role in deciding its currency value. 

If a country isn't doing well economically, its currency will see a staggering fall! Watching the news will help you stay a step ahead.
 

2) Get Reliable Brokerage: Time and time again, the importance of a good broker is stressed on. Every trader needs the backing of a good broker, especially novices. When you first start off trading currencies, you don’t know much about trading. It is your broker who will guide you through trades, let you learn on a Forex demo account and help you devise winning Forex trading strategies! So make sure to avail knowledgeable and reliable brokerage.
 

3) Stick To Your Plan: Lastly, it is of paramount importance that you stick to your plan. Being a newbie will often leave you overwhelmed with negativity, causing you to see the grass on the other side as greener. This will lead to you jumping strategies and not staying disciplined! Profiting in Forex will take time, make sure to give enough. Stick to your Forex trading strategies and see them through; discipline always brings in success.
 

Start practicing today with a good Forex demo account, and once you're adept at it, move to the live markets. Several novices filled with a zest for trading enter the markets enthusiastic, but due to the lack of professional support, fail early. Avail WesternFX's world-class brokerage and you will see raging success come swiftly! Our experts will provide you with excellent Forex trading solutions and see to it that your trades are well-guided. Try a demo today and see for yourself, call us!

How To Make Money With Forex Trading - The Secret Of Instant Profits!

An enormous number of Forex traders are out there today, aspiring to reach the top and make them a good earning. However, their pace isn't quick enough to see significant results. Many times, Forex traders put in ridiculous amounts of effort and see nothing more than some meager profits. This is why professionals say, "Work smart, not hard."
 

When it comes to profiting as a Forex trader, efforts play a minimal role. Yes, you have to be hard-working and keep at it till you have learnt enough to earn. However, blunt force is never the solution to anything. You will have to be smart in your learning and in your implementation. Forex trading is a vast market and extremely nuanced, only with a sharp approach will you be able to see the profits you dream of!
 

While most traders are told to demo trade in the start and keep striving to find a comfortable few Forex trading strategies, that style seldom works well. A Forex demo in South Africa is indeed necessary and a very helpful provision, but the simulated trade markets are nothing like the real-time ones! A trader will only truly learn when he/she trades on a live market.
 

How to Make Money with Forex Trading in South Africa

Keep in mind that your money will keep trickling down the longer you dilly-dally. This is why the suggested approach here, is to practice on the volatile and risky real-time markets, but with minimal amounts. This way, you will learn swiftly while also occasionally seeing some profits.
 

An Easier Way To Earn With Forex
 

There is no hard-and-fast rule that traders have to stick with manual approaches. You can let a trading robot, also known as an expert advisor (EA), do the job for yours! Once you establish the trading conditions, the robot will take care of the rest. Be aware of the fact that automated trading isn't always going to bring in positive results, and it definitely isn't a way to make 100% profits either. Your EA is only as strong as your established trading conditions!
 

Though criticized a lot in the trading community, no trader can deny the efficiency algorithmic Forex trading strategies carries. Remember that you still have to do your fair share of work. Researching the market for profitable timeframes, understanding currency movements, analyzing fundamentally and technically etc. - these tasks will have to be done from your end. Only then will the trading system bring in positive results.
 

Automated trading isn't perfect, but it's a great way to save time and place multiple trades. Want to know more about such approaches? Reach out to WesternFX today and learn from our trading veterans! We will provide you with an approach tailor-made to suit your needs, and ensure you see raging profits come your way. Call us today and ask for a free Forex demo in South Africa now!

The Many Advantages Of Automated Forex Trading

Forex trading markets are starting to see many traders move towards automated trading. But what does it have that makes it so preferred? With the implementation of sharp entry, exit and capital management rules, traders can come up with an automated trading system where computers monitor and run trades. What makes automated trading a powerful strategy is the fact that it removes emotional elements from trades, allowing them to play out without any human interference. 

Forex Demo 

What Is Automated Trading?

Automated Forex trading systems also known as algorithmic trading systems enable traders to specify a set of rules pertaining to entries and exits, which once established, are executed on a computer. The trader's job here is to only decide on a profitable entry and exit, the rest of the trade is handled by the system.

While many believe that automated trading systems handle every aspect of trades, that isn't quite the case. The most important part of winning a trade right through this means is to establish precise entries and exits, which requires intense researching on the trader's end! The complexity of the strategy employed is up to the traders' tastes, but the fact still remains that no matter how much of the trade is automated, a good amount of work still has to be put in.

Here are the advantages and disadvantages of automated trading every trader should be aware of:

Pros:

Emotional Control: 

The primary benefit many look to avail from algorithmic Forex trading is emotional control. Many a trade has been sabotaged by getting over-emotional! Bad trades and some lost money always manage to stir up negative emotions in trader, pushing them towards overtrading. On an automated trading system, trades will be executed automatically once the rules have been set. There won't be any room for cold feet! Additionally, trading will happen within set limits, hence keeping traders away from giving into the vile clutches of overtrading.

Staying Disciplined: 

Volatile trading markets and violent trading mindsets are a destructive combination, unfortunately, however, this is the duo most traders house. Forex trading is a field that requires incredible discipline. Traders end up crossing to the wrong side once they lose money. Fear kicks in and all traces of discipline vanish! Likewise, getting greedy is another trait seen in most novices. With an automated trading system, the chances of giving in to greed and fear rapidly drop, allowing traders to stay in control and keep unnecessary losses at bay.

Consistent Results: 

A big challenge many Forex traders face is keeping the profits consistent. One step forward, two steps back, is the typical trend seen in the trades made by most beginner and intermediate-level Forex traders. The profits made get overshadowed by losses! Consistency is hard to find with the currency markets being so volatile, that's a given, but many times it is the trader who makes mistakes that lead to a varying and imbalanced win-loss ratio. Algorithmic trading, however, will ensure traders see better wins and see them more consistently.   

Faster Order Entries: 

Manually making entries in an ever-changing market requires an immaculate level of focus. While traders themselves can work at swift rates, an automated system can do it better. Market conditions are always shifting, and an algorithmic system will catch these changes immediately. Every second matters while Forex Trading! What an automated trading system will do is generate everything from an order to the stop-loss once you enter a position. This will allow you to keep up with the raging-fast markets and walk back with healthy profits.

Multitasking: 

With an automated trading system, traders can trade different Forex trading strategies on multiple accounts simultaneously. Doing this manually would leave you at a risk. For a system, however, this problem is non-existent! Multiple trades are carried out at breakneck speeds, with minimal errors. With the algorithm scanning for opportunities in the background, you can be sure of the fact that every lucrative chance that shows, you will have access to. 

While incredibly advantageous, the learning curve isn't too gentle with automated Forex trading. You, as a Forex trader, have to make proper calls based on which the system will function! One mistake here and everything will start cascading. Don't make the mistake of thinking algorithmic trading to be like a background process with you diverting your focus elsewhere. You will have to keep an eye glued to monitor the system and make sure things are going as necessary.

Likewise, a technical fault in the software might lead to poor results, which means losses. Software is always prone to faults like these and to unforeseen server problems and connectivity issues. Relying too much on automated Forex Trading Strategies might not be a wise thing to do either. However, if you're able to maintain a good balance, you can see the best of both worlds!

Sign up with a reliable broker like WesternFX today and take your trades to new heights! With our veteran traders to guide you diligently, success will be swift and guaranteed. Start seeing real profits now, call us and let's get started! 

4 Golden Questions About Forex Trading

Many traders start off with retail trading or stock trading, and once they move to Forex trading, they're left with a burning curiosity. Delving into Forex without knowing some basics might prove to be costly. The currency markets are one of the most volatile trade markets in the world, and you will without a doubt need to be knowledgeable if you want to profit as a currency trader. With the internet taking over, many people have started online trading and many more are moving towards the Forex markets.

Forex Trading Strategies

Here are 4 Forex trading questions most inquisitive traders have: 

1) What Makes Forex Trading Different? 

Forex trading is the most liquid market in the world, and also one of the most risky trading domains. It is decentralized and there's no universal governing body. There are financial authorities like the NFA and CFTC that protect traders and trades, but there is no hierarchy. Trades are made on the basis of mutual trust! Similarly, there are no financial limits to hinder you. If you want to invest a million dollars on EUR/USD, you're free to do so. 

2) What Is A Pip?

Pip stands for percentage in point, and it is used to denote the smallest price value increment in Forex. A simple comparison would be - a packet of chips is priced at $2.50, in pips it will be denoted as 2.5000.  

3) Are Currencies Physically Bought?

Forex is a speculative trading market. You will have to employ a trading platform and put capital in your trading account, to begin with. Hereon, everything happens online. There is no physical purchase or transfer of currencies. With online trading in the game now, you can trade from anywhere in the world, and anytime - since Forex trading markets are open 24 hours! With a trading account and enough capital, you can get started easily. To make things easier, choose from the list of top Forex Brokers in South Africa to aid you in your quest! 

4) What Are The Most-Traded Currencies?

The major pairs are the ones most traded, and all of them have the USD as one currency:

1) EUR/USD

2) USD/JPY

3) GBP/USD

4) USD/CHF

These currency pairs make up for 85% of the overall liquidity seen in Forex markets. 

This should get any novice up and running in no time! All that's left is getting a demo platform, learning the essentials and moving to profitable trades. Sign up with one of the best Forex Trading brokers - WesternFX, and take to the skies! Assisted by our veteran traders, you'll be able to catch profitable trends swiftly and ride them to victory. Call us today to know more! 

The Best Forex Trading Approach For Beginners To Follow

Statistics showcase that more than 75% of the Forex traders fail early and don't see profits. These numbers have created an intimidating aura around the currency markets and have instilled the belief in many that Forex trading is based on luck! However, that's not true. In an aim to profit regardless of the many myths and wrong beliefs, several traders try to find a fool-proof technique to make money in Forex. There just isn't one. This impractical chase is nothing more than a big waste of time, keeping you from perfecting your approach and becoming successful at foreign exchange.

Forex Demo

While there are no easy shortcuts, there are several difficult paths you can go down on. The closest you can get to a fool-proof technique is just researching sharply and practicing. In Forex, trying to control the game will only lead to you losing money. Instead, consider Forex Trading markets to be a river and go with the flow! 

The start is what will be the most difficult. Beginners, intermediate traders and professionals - all participate in the same markets. The grounds are even but the scenario isn't. A professional trader has far more knowledge and experience than the others, which gives him a lot of leverage! However, as a beginner, all this need not be your concern. Your first priority should be to study all you can and practice what you learn.  

Once you know the basics, get yourself a good Forex Demo trading account from a reputed broker. Demo platforms are virtual spaces where you can practice trading, test out strategies and understand the working of the platform itself. All this will help you when you brave the torrents of a real-time trade. 

Check Forex demo trading off the list once you have a good grip over the working of a trade and trading platforms. Now you will have to perfect the art of analyzing markets. Two elementary approaches to learn are technical and fundamental analysis. The former employs tools and other platforms to study a currency's historic behavior, while the latter requires analysis of a country's economic, social and political factors. With these two approaches lighting the way, you will be off to a great start!   

   

There you have two of the top requirements - research and practice. Now all that's left to gain is an experience. Keep trading and you will keep improving. Some trades will end up badly and will teach you a lesson; some will bring home big profits and leave you satisfied. Ultimately, studying and practicing only takes you half the way, the other half has to be travelled yourself.

Get yourself the best Forex Brokers In South Africa for your currency trading adventures. Avail WesternFX's brokerage today, and take to the skies! Our experts will guide you through every step of the way, and ensure you come out on top. Call us now to know more.  

The Possibilities Weekend Day Trading Carries In Forex

Online Forex trading has grown to become one of the most beneficial advents of recent times. You can have a profitable career working from home as an online Forex trader. With the markets open 24x7 and several benefits like leverage and trading flexibility, a full-time career could work out incredibly in your favor!

Most traders trade around the clock and through the week, it all boils down to their interests, strategies and expectations from the markets. While the 5 weekdays do see a lot of bustle, the weekends can be lucrative too if approached right. 

Forex Trading Strategies

Why Trade On A Weekend?

What makes weekend trading an advantageous Forex trading strategy is that it allows you to analyze the markets in-depth. Traders may have jobs or college during the day and are hence unable to study the markets properly. With weekdays being the hub of business, you might find difficulty performing market analysis, something which is essential to trades. 

Weekend Forex trading doesn't explicitly imply trading only on the weekend. Many traders take these two days to study the markets and prepare for the week ahead. With the time at hand, you can improve your approach and equip yourself with a strategy that will hit all the right spots! 

What Are Some Good Weekend Trading Strategies?

Swing and position trading are two of the most effective Forex Trading Strategies under weekend trading. They are also incredibly profitable when compared to other approaches, and relaxed in their implementation since they are long-term. Unlike day trading or scalping, these two strategies are placed with a bigger picture in mind and a longer timeframe in consideration. 

Since you have the weekend for research and some leverage to up your trade positions, implementing these Forex trading strategies can prove incredibly lucrative. Perform some detailed analysis over the weekend and scour the markets for any profitable opportunities coming your way! With the right trade information in hand, reaping profits will be no challenge. 

Even day traders can benefit amply by working weekends to analyze the markets. Since your trades only have the window of a day, spending weekends analyzing the potential prospects will give you a tremendous head-start. 

Weekend Forex trading is profitable, just like every other approach, so long as it's implemented right. With analysis being as important as it is, traders still fail to find the time! Use the weekend right and get your strategies sharpened - profits will definitely be in your grasp.

Find a tailor-made weekend trading strategy for your venture at Forex Trading In South Africa today, call WesternFX now! Assisted by our seasoned veterans, you will be able to make stellar profits swiftly. Join hands with us today, and take to the skies.  

A Guide To Maximizing Forex Trading Profits In 2019

Unlike what many think, Forex trading isn't an investment scheme where you invest $100 and take $120 out. It is quite the opposite. In the beginning, you will end up with less money than what you put in. That's the nature of Forex markets. Only with time and experience can you hope to mint big money! Foreign exchange is far from gambling; luck plays but a trivial role here, and it is a skill that takes the driver's seat. All things said and done, no one would trade currencies if all they saw was losses as they started.

Forex Trading Strategies

Succeeding as a Forex trader takes time, but even as a novice, there are ways you can improve the profits you make:

1) Pair Up With A Reliable Broker: 

Brokerage is more than a window to making trades. Thriving in the stifle Forex markets requires assistance from seasoned experts. Only someone who knows the way around can guide you, else you'd feel no different than being lost in a desert. Back your trades with a reliable Forex Brokers in South Africa. Scour the markets for a broker that is regulated and has positive reviews from fellow traders. Partnering up with an inexperienced agent will only cause more harm! 

2) Keep Adapting To Moving Markets: 

No two days in order will see similar market trends in Forex. Each day brings different opportunities. If you're sharp enough, you'll be able to make money on both sunny and rainy days. The trick is to always be prepared for erratic market shifts. Forex won't play by your rules, you play by Forex's. 

3) Don't Diversify Right Off The Bat: 

It is indeed tempting to want to work with multiple currencies and keep tasting new stuff. However, as a Forex trading beginner or an intermediate trader, it is not advisable to diversify widely. The beginnings should always be aimed more towards learning a little but learning it perfectly, rather than learning a lot but not doing justice to anything. As you begin, try to master one currency at a time and take things slow!

4) Keep Leverages Minimal: 

Nothing less than a lure, leverages are a temptation Forex traders have to overcome if they want to survive. Leveraging when done right can multiply your profits by several times and help you bag massive wins. The problem is, more often than less, leveraging doesn't go as planned. Always leverage in a limit, and grow your account organically. 

The markets are sprawling with Forex Trading today, and racing ahead of the competition isn't an easy task. Backed by an adept broker however, success will be swift to come by! Take to the top of the charts today, avail WesternFX's stellar brokerage! Assisted by our professionals, you will be able to maximize your potential and see consistent profits come by. Call us now to know more!

Why Forex Traders Should Employ Trading Signals In 2019

Forex trading signals are a blessing to every novice and busy trader. They provide Forex players with crucial trading information pertaining to factors like the most profitable entry/exit points and take profits/cut losses. Based on this, traders are able to take sharper calls and improve their chances of profiting. Trading signals aren't a sure-shot means; they are inaccurate on many occasions. Novices often think merely availing signals will bring profits, but they won't! It comes down to implementing your strategy right and doing thorough market research. 

Forex Trading Strategies

Types Of Signals:

1) Manual Trading Signals: 

Manual trading signals are generated by experts and not done automatically. Many traders prefer availing manual trading signals because they have a more human element to them. When a trader himself is the one generating the Forex trading signals, aspects like market shifts and economic movements will be kept in mind. 

With manual trading signals, the information obtained will keep you prepared to face economic disruptions that go against your plans. 

2) Automated Trading Signals: 

Automated Forex Trading signals, just like their name suggests, are generated automatically by a trading robot. This robot takes into account a lot of past historic data and based on that, suggests the moves to make. The information generated here is accurate to the last dot! Additionally, since these are automated, the signals are fast and give you a huge window of advantage. 

Advantages Of Forex Trading Signals:

1) With Forex trading signals in your pocket, you won't have to expend time on strategizing. Experienced traders prefer implementing and working with their own approach, but for beginners, trade signals will do most of the work!

2) Signals save traders a lot of money. Planning out a strategy, demoing it and availing expert guidance might end up costing a good sum. With a trading signal, however, you can cut down on several expenses. 

3) Automated signals are often incredibly sharp and can help bag massive profits, while manual signals will give you a more human-like experience with erratic market developments in mind. 

When backed by an experienced Forex Broker In South Africa, success is assured! Partner up with WesternFX today, and ace your exchanges. We provide traders with the best of strategies and assistance and make sure they come out on top. Try a demo today and see for yourself!

4 Ways To Follow A Positive Forex Trading Mindset And See Better Results

Negativity often leads to several deserving traders' downfall. Not having a positive approach can be dangerous while Forex trading. Some traders get addicted, while some get completely shattered by losses. A balance has to be achieved between both states of loss and profit, to make sure neither outcome grows on you to the point where you make drastically unhealthy decisions. When you're powered by a dedicated and disciplined mindset, success will come by swiftly and you can take to the skies in no time! 

Forex Trading In South Africa

Here are 4 tips on improving your trading mindset:

1) Don't Bite More Than You Can Chew: 

As a Forex trader, giving in to greed is natural, but you have to control your desire to profit big! Think of the long term, you can place a hundred safe trades and make more money than place one risky trade to lose it all. Always bottle your expectations and make sure your reach doesn't exceed your grasp. 

2) Commit Only To Risks You Can Afford Taking: 

Risks will have to be taken at one point of time or the other, they can't be avoided! Only with risks can you see good profits; however, risks can sometimes lead you astray and cause your trades to fail. This is why you have to ensure the risks you take are calculated and affordable. 

3) Take Enough Breaks: 

One big mistake Forex Trading beginners make is not giving themselves enough breaks. Trading day in and day out causes a lot of mental stress and by the time you realize it, it's too late! Be it a profitable run or one filled with losses, take some time off and spend it with your family, or doing something that gives you mental freshness. 

4) Keep Addiction At Bay: 

Having more money is always a pleasing thought, but addiction in Forex can cost you a lot down the line. As a Forex trader, you will be surrounded by a mountain of opportunities, it is up to you to exercise control over your desires and draw the line.  

Currency exchange will often times test your resolve and see how firm your grip over yourself, and the market is. Partner up with one of the leading Forex Brokers In South Africa - WesternFX, and watch your trades bring in massive wins! We house seasoned veterans who will stick with you through trades and provide you with valuable guidance to make you a successful Forex trader at the end of the day. Call us now to get started!   

Overtrading - Every Trader's Arch-Nemesis And How To Defeat It

Be it Forex trading or shares, traders everywhere have one big problem - overtrading. The simple, but extremely detrimental act of trading more than one can afford. Like all unhealthy addictions, it starts off with the thought "Just a bit more, what could possibly happen?" and before you realize, you're sinking in losses and owe thousands of leverage money to your broker. 

Many traders have faced the fury of the markets and lost thousands over one bad trade they could have avoided making. Foreign exchange is a very dangerous market for traders who lack self-control; one mental push can send you tumbling down the hill studded with sharp losses. 

Forex Brokers In South Africa

If you can relate to the feeling of wanting to trade more, you need to be wary! Losses come in Forex just like the profits - in massive amounts. And to keep away from them, you will have to keep from overtrading. Here's what you should do: 

1) Trade With Stop-Losses In Place:

An easy way to keep losses from finding their way in through the extra trades you place is to trade with a Forex Trading Strategies that prioritizes stops. These mighty useful elements are designed to withdraw your position once you have incurred a certain loss and thereby keep you from incurring any more!

2) Keep A Trade/Profit Threshold And Follow It: 

If you have placed a few ten trades in a week, let them be the limit. Overtrading happens mainly because traders don't know when to stop. Set a mental profit and trade limit, beyond which you won't participate in trades. This will help greatly while Forex trading, even in the long run.

3) Let Go Of Losing Trades And Past Losses: 

What's done is done, money lost is lost - there is no use lamenting over it. Instead, buckle up and look forward to bettering your approach for the future trades you will be making! 

4) Maintain A Trading Journal: 

With a little retrospection, a huge number of Forex trading losses can be avoided. Keep a trading journal and note down what happens in your trades, this will help you analyze the trades and make improvements as necessary - ultimately making you a smarter, more controlled trader.  

Get yourself a good Forex Broker In South Africa, one who is invested in your success as much as you are. Get WesternFX! With the stellar Forex trading strategies we provide, you will be able to climb to the top swiftly and stay there. Forex trading comes with an arsenal of difficulties - technical, physical and mental, and we will be by your side throughout. Call us now and to with our experts!

4 Important Forex Trading Principles Every Trader Should Know

There are some core elements in each field that a participant has to be aware of before pursuing it. For foreign exchange, there are several subtle nuances that go unnoticed or ignored, which later become problematic as traders try to scale up. As a Forex trader in 2019, you will face unimaginable competition and have to thrive in markets that are scarily volatile. Only with knowledge and discipline can success be reached; currency markets see thousands of traders fail to make profits due to their lack of market knowledge.

Forex Brokers In South Africa

Here are 4 important aspects every Forex trader should be aware of before trading: 

1) Currency Information: 

Currencies aren't a stable element; their value keeps fluctuating depending on the market's behavior. Your job as a Forex trader is to first study the currency pair you wish to employ. Only when you have the necessary knowledge can you go on to gauge a currency pair's potential in real-time trades. Do the research and the work before devising a Forex trading strategy. 

2) Influencing Factors: 

Forex trading markets are influenced to a good extent by economic movements, political disruptions and social happenings. To land successful trades, it is important that you be aware of the factors that are governing currency values, and make a decision keeping in mind these elements and their ability to change the tides of Forex at any given point of time. Many Forex traders lose their money due to ignorance of their economic and political surroundings. Even with the backing of a strong strategy, winning trades will get difficult without knowing the underlying factors.   

3) Leveraging To Your Advantage: 

Leveraging too much while Forex Trading will lead to losses, and leveraging too less will keep you stuck at breakevens. You have to exercise steady control over how much you leverage since it's a double-edged sword that can make or break your trades. 

4) Market Risks: 

The final thing to know as a Forex trader is how the market functions and the risks it carries. Only when you are aware of the repercussions your moves birth can you go on to avoid them. 

If you ever feel shaky, you can always practice your technique on a good Forex demo account before taking things to the real-time market. Get one today, from one of the best Forex Brokers In South Africa - WesternFX! We will equip you with the best of platforms, for demoing and live-trading, and give you stellar guidance through your trading adventures. Call us now to know more!

4 Ways To Determine If A Forex Broker Is Perfect For You

Winning trades today is impossible without the guidance of an adept broker. Forex trading markets are known worldwide for being ludicrously high-valued and profitable, but only the traders know the risks it carries and how difficult trading can get! This is what makes a Forex broker's job times more extensive than it should be. Unlike what many think, a Forex broker's role is not to merely provide a trading platform; the firm should help traders learn the art of foreign exchange, grow in terms of knowledge and skill, and provide them with timely trading guidance.

Forex Demo

Here are 4 ways you can find out if your Forex broker is a good match: 

1) Decide Your Requirements: 

Before you start your broker search, decide on your requirements from the brokerage firm. Some traders are experienced and don't want anything more than a platform, while some might be completely new and have to be guided through trades in detail. If you are the former, then just having the basics given will suffice. If you are new to Forex trading however, your broker will have to be actively involved in helping you trade! 

2) Read Multiple Reviews: 

Reviews are one of the most substantial elements when it comes to gauging the quality of a product or service. Without having customer reviews, every selection/availing process would become a risky trial-and-error! Go through user reviews while selecting a broker, they will give you a clear idea of how efficient the Forex trading agency is. 

3) Take A Demo Test: 

If you don't find your answers in the reviews section, take things in your own hands and ask for a Forex Demo! Demoing with a broker will allow you to experience things first-hand. Be it availing their support or testing out the quality of the trading platforms, a demo test will help you learn much about the broker and give seamless clarity. 

4) Ensure The Spreads Are Honest: 

Lastly, when all things have been finalized, just give the spread charges a brief glance. Some Forex brokers in South Africa charge exorbitant rates! Go through other brokerage options while you're in the searching process, and select a broker who you feel charges optimally. 

There are a number of Forex Brokers In South Africa, and picking one is going to be a challenging task, but pivotal to ensuring your success as a Forex trader! Don't settle for average, you deserve the best; avail the world-class brokerage offered at WesternFX! Our arsenal of trading veterans will provide you with in-depth trade guidance, stellar trading platforms to trade on and a variety of proven strategies to choose from. With our experts by your side, winning is the only option! Call us today to know more.  

A Student's Perspective On Winning Forex Trades In 2019

It might come as a surprise to many, but even students today have started Forex trading! This incredibly profitable venture requires a sharp mind and a knowledge-first approach, and who better at it than students? Forex trading is growing increasingly popular by the minute and just as valuable too. With a trading value of $5 trillion today, the markets are open to all but succeed at by only a handful. Consistent profits aren't realized by the thousands of traders that join, mostly because of excessive ambition and greed!

Forex Demo 

However, students today are becoming wise enough to tread on the risky grounds of Forex and make a good winning for themselves regularly. 

Below you can read how one can get started off with Forex as a student and see consistent results: 

1) Always Be Aware Of Economic Happenings: 

As a Forex trader, you always have to know what's going on outside before placing a trade. Forex exchange is a field best known for bombarding trades with sudden market movements! Don't get caught in these erratic drifts; always study the market conditions before finalizing your trades.  

2) Focus More On Consistency Than Profits: 

One of the main reasons why beginners lose more than they win is because they focus more on profits than on consistency. Having a consistent run of 10 successful trades is better than dipping after one good trade! Aiming for profits is good, but don't get consumed by it. Always have the bigger picture in mind. 

3) Start Off Small And Grow Gradually: 

Keep the beginnings as humble as they get. When you go all-in right off the bat, it becomes difficult to sustain in the long run. This is because one loss can easily sweep you off your feet and leave you to land in losses! Trade with minimal capital when you are beginning, and then increment it slowly as you gain more knowledge and experience. 

4) Work With One Strategy At A Time: 

Be it a difficult one or an easy one, sticking to the plan is as important as planning itself. Don't shuffle between trades! Study the markets carefully and find the proper indicators to go with your trades; once this is done pick a solid Forex Trading Strategies and stick to it. 

Make the jump now, partner up with the best Forex Broker In South Africa and dive into success! Our currency trading experts will guide you through the various nuances and ensure you are always afloat. Backed by our proven Forex trading strategies, you will be able to see profitable trades swiftly and make trading a lucrative hobby! Call us today to know more.