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.