How To Make Sure You See Lasting Success In Forex?

What does it take to succeed as a Forex trader? A question that haunts every beginner, winning currency trades is a challenge for novices and experts all the same! Forex trading is one of the most profitable trading markets and sees massive crowds regularly. However, of the thousands that try their shot at trading currencies, only a handful succeed. To have a successful career while Forex trading in Nepal is no easy deal. However, with ample effort put in, you will be able to reap stellar rewards. There are no giant trading secrets that winners know, it’s all a matter of discipline and effort.

Here are 4 incredible steps to have a lasting and successful Forex trading career:

1) Change Your Trading Mindset:

How you perceive Forex trading plays a huge role in defining your career. If you think of it as a casino, you are bound to lose money. To become a successful Forex trader, it is of paramount importance that you have a clear idea of what you’re doing. There’s more to currency exchange than just money, and when you realize this truth, you will automatically start seeing positive results come your way.

2) Don’t Invest Too Many Emotions:

Investing emotions often does more harm than good. In the domain of Forex trading, traders have many windows to get emotional. Losing trades, winning big profits, all of these endeavors can cause you to feel more than necessary. And when emotions like greed and overconfidence take control, you are bound to give in to overtrading.

3) Diversify Regularly:

One of the most amazing features of Forex trading is that it allows you to diversify your approach. If you’re a long-term trader working with slow-moving strategies, you can switch to short-term Forex Trading Strategies and work with different currency pairs. At any given point of time, you’re free to diversify, and this is incredibly lucrative. It gives you a different perspective of the market and lets you experience Forex in different angles.

4) Demo Practice Amply:

Get yourself a demo trading platform from a good broker and practice strategizing on it. Only after regular demo practice can you expect to get a hang of Forex trading in Nepal.

Before you begin Forex Trading in Nepal, measure your risks and gauge your readiness. Once you’ve decided to make the move, partner up with a broker who’s as invested in your success as you are – call WesternFX today! Our seasoned experts will provide you with the knowledgeable guidance you need to place successful trades. With our undivided backing, success will be in your grasp swiftly. Call us now to know more!

How To Trade Forex During Low Volatility Hours?

Trading is a fun experience when the markets are booming, but what does one do during the low volatility periods? Forex trading is a domain where volatility and liquidity affect the trader more than any other aspect. If the market isn’t volatile enough, there won’t be any profitable currency movements. As a Forex trader, you can’t always expect the markets to move in your favor. Though mostly volatile, there are certain hours when the aura surrounding currency trading dims down and seems timid.

Forex trading strategies in Nepal

Here are some tips for mastering Forex during low volatility:

1) Accept The Reality:

Sitting and expecting the market volatility to go back up is a fool’s errand! While trading currencies, you have to keep the “now” in mind. If you are trading in a market where the volatility isn’t in your favor, accept the current scenario and draft an approach around it. Many novice traders keep waiting for the markets to turn around, but in doing so are wasting a huge amount of time. Even on low volatility markets, you can make decent winnings.

2) Keep An Eye On The News:

News is a very powerful element in Forex Trading Strategies. It has the power to turn things around in an instant. And as a diligent trader, you ought to keep an eye on the news. If a new event suddenly starts trending, a previously low-volatile market might suddenly increase in value. Hence, when you are able to monitor the markets, such events can be capitalized on incredibly well.

3) Stick To One Trend:

In markets where the volatility is minimal, it is important that you don’t jump around too much. Only a handful of remotely profitable trends will come by, which is why it is important to stick to said few trends. Trying to get too adventurous will backfire easily and leave your trade in shambles!

4) Be Vigilant:

Low volatility periods might feel safe from a risk aspect, but this is exactly when you need to be more alert. Even the smallest of increase in value will demand your attention! Always stay vigilant and be ready to act to the coming changes.

You can try simulating a similar scenario on a Forex demo account and practice on it, but the experience is best when you trade live. Reach out to one of the top Forex Brokers in Nepal, WesternFX today, and get yourself an arsenal of tools to master your trades. Our experts will aid you throughout, ensuring you have all that’s needed to ace trades, be it low volatility or high! Call us today to get started!

4 Tips To Keep In Mind While Analyzing Forex Markets

Forex trading, though extremely nuanced, can be boiled down into two essential processes – market analysis and trading. While most traders pour all their concentration and effort into trading, they fail to realize that market analysis is a governing factor all the same. Without strong analysis, the very base of your trade will crumble.

Here are 4 tips to keep in mind while analyzing the Forex markets:

#1. Analyze Before You Trade:

Rushing headlong into trades without knowing how the market is moving is an ignorant thing to do. Forex trading markets are extremely volatile and get influenced by a number of economic, social and political factors. As a Forex trader, it is important that you are aware of what’s turning the cogs in the background. When you spend a good amount of time analyzing the markets, you will be able to understand the factors that are governing each currency value movement, thereby being able to speculate precisely. Many professionals suggest spending more time researching and analyzing than trading itself. One good trade done slowly, that brings in good profits, is times better than placing multiple trades that are half-baked and inching towards losses.

#2. Confirming The Assumptions:

When analyzing the markets, it is important to understand that the results of your analysis are just a perspective. Even with in-depth analysis, there’s no guarantee that your trades will reel in profits. This is because the Forex trading markets are mercilessly volatile. A sudden change in the market movement will effortlessly topple the results of your hard-work. This is why you will have to confirm your assumptions and the products of your research, either by demo trading or by availing professional guidance from experts.

#3. Both Fundamental And Technical Analysis Is Strong:

Many Forex traders war with each other when it comes to choosing a type of analytical approach. Some want to stick with fundamental analysis and some wish to employ technical analysis – but the truth is that both are incredibly effective! Seeing successful results requires that you perform the analysis precisely and are adept in your means.

#4. Analyze Timeframes:

Different timeframes affect the currency behavior. For example, when the market is experiencing a slow trend, long-term Forex Trading Strategies like position trading will be ineffective, but shorter ones like scalping will bring in excellent results! This is because shorter timeframes are more prone to see movement, though minimal. So before you move to trading, analyze the currency and the timeframe of your choosing to make sure both of them synergize.

To become a successful Forex Trader in today’s markets, strong analytical skills are a must! Learn from the trading veterans at WesternFX today, and you will be able to conquer any currency market. We will provide you with superior demo trading facilities to test out strategies, and diligent coaching to make sure you are up to date with the current market needs. Perfect your Forex trading approach with us, leave a line and let’s get started!

How Does Predictive Analysis Help In Forex Trading?

The use of past and present data for generating future values is called predictive analysis. In a field like Forex, trends are mostly recurring. Every market move seen is a result of some economic, social or political disruption happening in the backend. With predictive analysis performed, you can figure out where the market is going to move and capitalize on opportunities incredibly.

Forex Trading Strategies

This is where big data comes in. Big data is the collection of data sets that is employed while performing predictive analysis. With decades of data in place, you can map trends like never before! Here are 3 benefits predictive analysis provides to Forex traders.

Quick Results:

Speed is crucial in trades today. The Forex market has become competitive and you have to think fast and trade faster. All of this relies on how swift your speculations are. If you rely on your broker or signal provider for equipping you with this information, you might miss out on good trading opportunities. Trades require real-time information that come and go in an instant, with predictive analysis, capturing this information will be a speedy process. Hence, allowing you to focus more on the trade itself. Several trade patterns and market data have to be processed, and this will be a painfully slow process when done by a human. Automation lets you do it at blazing fast speeds!

Gives You A-Z Data:

Everything from a currency’s growth to a country’s economic downfall has been stored, and big data allows you to make the most of this. With this huge database at your disposal, technical and fundamental analysis will be no thorn in your path! When you are equipped with all the data needed, analyzing markets and netting profitable trends will be times easier.

Forex markets are incredibly erratic. The uncertainty they hold has left several traders intimidated. This is why having accurate data in one’s grasp is the most powerful stance in Forex. Backed by information, you will be able to nail down profits with sharp Forex Trading Strategies as they come and avoid expensive losses. While the predictive analysis doesn’t have any guarantees of its own, it is still better to have data in your pockets than work around trades clueless.

Removes Panic From Your Decisions:

No matter how adept the tools you employ are, panic is bound to set in once trades come closer. A Surety is important to every Forex trader. And predictive analysis offers you all the surety you need! With accurate data in your hand, there won’t be any panic whatsoever!

Get yourself the backing of the best Forex Broker In Nepal today and start seeing big profits in no time. Assisted by our market experts, you will be able to speculate like a pro and bag wins back to back. Call us today to know more!

4 Main Types Of Forex Traders In Today’s Markets

Finding out what kind of a trader you are should be the primary focus as you start off with Forex trading. Several players are quick to rush into the volatile markets without knowing their persona! Thousands of traders participate in Forex trading and the approaches implemented are diverse and vast. From scalping to position trading – a number of short and long-term strategies exist that work incredibly well. But the result ultimately boils down to one aspect, compatibility. If you follow an approach that doesn’t gel with your trading style, success even when it comes won’t be satisfying.

Forex Trading

Here are the 4 main types of Forex traders you will see in the Forex markets, decide which shoe fits you:

1) Sentiment Traders:

Traders sometimes choose to follow their instincts, and it does work out. As a sentiment Forex Trader, you will try to find out the market mood and capture profitable trends as they come. Most traders try to race ahead of the markets, but sentiment traders go with the flow. A lot of technical and fundamental analysis goes into sentiment trading, since trend identification is the first priority here.

2) Noise Traders:

An extremely risky approach that can destroy your Forex trading account, noise trading is essentially following the same steps as other traders in an aim to make profits. Though it seems rash, noise traders contribute a lot to market liquidity. Noise traders don’t perform any type of fundamental analysis and instead trade impulsively. The risks are high, but when the profits do come in, they’re just as big.

3) Fundamental Traders:

This approach is more streamlined and aimed at understanding market movements and their repercussions. With economic data and trend information in hand, fundamental traders aim at powering their trades with logic and speculations rather than following a rash approach like noise traders.

4) Technical Traders:

Technical analysis is the core of Forex traders here. Using indicators to find trends and historic trading data, technical traders bag profitable trades that form in a recurring manner.

Found your fit? If not, you can have a detailed talk with one of our experts today at WesternFX! We will clear your trading doubts and help you develop a firm trading personality. Assisted by us, you won’t just get excellent brokerage; everything from trade guidance to Forex Trading platforms and strategies will be at your disposal. Call us now and see for yourself!

Forex Trading 101 – Everything You Need To Know About Stop-Losses

A Forex trading stop order is used to mitigate losses faced by traders, by pushing them out of their position once losses are made or a losing trend is identified. When you have a stop at $50 for a security being traded at $65, if the price suddenly drops below $50, your position will be withdrawn immediately, allowing you to stay safe from losses.

Forex Trading in Nepal

The Importance Of Stop-Losses

A stop order is used to sell a commodity upon a certain price level being reached, just as it is used to avoid losses. These orders can be placed on short and long trades all the same. Apart from its most evident advantage – of keeping away losses, what it helps to do is barring your emotions out of trades. Many traders while Forex trading in Nepal have the tendency to get over-emotional over losses or even profits, and this leads to them trading in an increasingly rash manner.

Professionals always advise against letting emotions take the wheel while Forex Trading. Trading out of greed or anger, or the fear of losing more money only leads to further losses. So when you keep a stop order in place, it will do the work for you and keep you from crossing the line. Another advantage of employing stops is that it helps protect oneself against erratic market movements. What the future holds, only the future knows. You can’t predict how a market will move, so for traders who find capital management to be difficult, having a stop placed will help you avoid heavy losses.

Types Of Stops

A stop-loss can be of two types – static and trailing.

1) Static Stop-Loss:

Static stop orders are the normal ones, and much like their name suggests – they are static. Once placed, these stops can’t be moved. This is a huge advantage for traders who are just starting off and have difficulties managing their investments. With a static stop in place, you can trade your position without having to worry about losses finding their way in.

2) Trailing Stop-Loss:

A trailing stop is an upgrade to the static ones. These stop orders are more dynamic in nature and can be made to follow a particular price level you think you can risk; typically, these are placed at profit and breakeven points.

To succeed at Forex Trading In Nepal, a thorough understanding of stop-losses is necessary! The markets can get harrowingly volatile and throw your trades into losses. Avail the assistance of WesternFX – the leading Forex broker, and take to the skies! With our expert guidance, you will be able to land consecutive wins and achieve trading success in no time. Call us today to know more!

7 Characteristics You Will Find In A Successful Forex Trader

The path to achieving Forex trading success is by no means an easy one; there are hardships in generous amounts and risks in plenty! To leap ahead of the problems and land consistent victories, you will have to be extremely adept in your approach. As difficult as Forex is, a few sharp traders permeate through the layers of difficulty and establish a firm grasp over success. But how do they do it, when over 80% of the Forex traders today are failing to see profits?

Here are 7 characteristics that fuel and drive a trader to success:

1) Trading Discipline:

A successful trader is always disciplined. Traders such aren’t distracted by greed, fear or overconfidence. They have their eyes on the goal and follow a path which is fuelled by surety rather by the blunt desire to profit.

2) Healthy Desire To Succeed:

The word “healthy” is crucial in this context. An unhealthy desire will push you to overtrade and leverage excessively, both leading you to an early downfall and hefty losses. Have a burning desire, but don’t let that fire consume you.

3) Rigorous Hard And Smart Work:

Working hard alone won’t suffice, you have to work smart. This means you will have to be updated about markets, know the latest trends and then keeping all these as a reference, and draft a meticulous approach for Forex trading in Nepal.

4) Patience:

The Forex Trading In Nepal won’t bring in overnight profits; it is all a gradual process. Professionals know this and take their time to enjoy trading rather than rushing towards money. Sometimes the market might be slow to move to points you want to profit from, exercise patience on such days!

5) Taking Losses In Stride:

Losing is inevitable, no matter how hard you try. What you should do instead, as a Forex trader in Nepal, is let the losses mentor you into becoming a better trader. Even then you won’t be able to avoid them! But the damage they cause can be mitigated effectively.

6) Looking At The Bigger Picture:

When you day trade and fail in your first few exchanges, don’t get disappointed. You still have several trades left to make! Always keep the bigger picture in your head.

7) Prioritizing Mental Health:

Health comes before everything else. A trader no matter how successful should give more importance to mental and physical health more than trading itself.

There you have it, tinker your trading persona and implement these 7 elements inside it, and you will become a more adept Forex trader in Nepal swiftly. Our experts at WesternFX are ever-ready to help you through your trading endeavor and will equip you with the required platforms, Forex Trading Strategies and trading knowledge! Come have a chat with us today, call us!

4 Of The Most Profitable Strategies To Implement In 2019

A Forex trading strategy is indispensable to trades, and without one, finding a way out of the maze-like currency exchanges will prove to be a harrowing experience. Foreign exchange is a field that requires traders to be on their toes, ever-aware of the current market events and knows when to place trades. Forex trading strategies are what give traders a clear outline of exchanges and light their path ahead. With 2019 turning out to be a very competitive year for traders, the need to have the backing of a powerful strategy is higher than ever.

Here are 4 Forex strategies that are seeing great value in 2019:

1) Scalping: Scalping is a small-scale Forex trading strategy with large-scale impact! Though it seems minute in nature, this strategy comes packed. As a scalping trader, you will be trading for seconds or minutes at the longest, and make small profits. Don’t mistake this to be ineffective, because on smaller timeframes you see more frequent market movements and have lower risks! So at the end of each day, you will have made several small profits which will add to a huge one.

2) Day trading: Much like scalping, day trading is a strategy that starts and ends within a day. So you have a day’s time to make your trades and walk out successful! This approach is again tremendous, because of its small-scale nature! On the trading windows seen while day trading, opportunities are numerous and the profit potential is just as huge.

3) Trend trading: As a trend trader, your job is to keenly monitor market trends and capitalize on the ones with the highest value. The reason it is said to be effective is because trends lie in plenty on the grounds of Forex Trading in Nepal, with changes seen in the market almost every day. With ample analysis done, you can net profitable trends easily and make a hefty winning!

4) News trading: News trading is the more technical approach in Forex, something a lot of traders choose to follow. Being a news trader will have you watch the market developments with a sharp eye and invest based on the movements seen.

Get started with Forex trading in Nepal on the right foot. Don’t repeat the same mistake novices make, of hurriedly beginning with a namesake strategy and then down the line incurring heavy losses. Sign up with WesternFX now, and avail from our arsenal of stellar Forex Trading Strategies! Our professionals will equip you with the best of trading solutions and ensure you have their backing at all times. Call us today and talk with an executive to know more!

Main Types Of Forex Trading Accounts For Players In 2019

To trade currencies, the flexibility provided is incredible. Right from the currency picked to the accounts worked on, you can choose from a variety of options. When it comes to Forex trading in Nepal, picking the right account type is just as important as the strategy you implement.

Succeeding as a currency trader requires you to be aware of your capabilities and limitations, and the trading account you use is a representation of the same! Depending on how much trading capital you can invest, you will have to pick an account of appropriate size. Entering into a million dollar trade with barely a thousand dollars of capital will do you no good!

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Here are 3 of the primary trading account types to choose from:

1) Micro accounts:

Micro accounts allow traders to place exchanges with minimum amounts as low as $100. While these accounts usually can’t avail other brokerage benefits, the risk seen with low capital becomes a huge advantage. Starters should always begin on micro lots because even if you lose a few trades, not much is lost. The disadvantage with low capital is that you can’t hold higher positions in your trades. However, for starters, this is a great deal and a very safe commencement.

2) Intermediate accounts:

With a capital requirement of about $500-$1000, the intermediate accounts are the choice of most traders today. On these accounts, you can avail a good amount of broker benefits and hold trades of decently high value. Pair this up with some leverage and a good Forex Trading Strategies, and you will have a lot more in your account and be able to make high-value exchanges!

3) Premium accounts:

For traders who have a lot of trading capital, premium accounts are provided. The only captivating aspect of a premium account is probably the broker bonuses offered. Be it a debit card or higher leverage, there is a plethora of benefits to avail on these accounts!

Don’t know the best account for your venture at Forex Trading In Nepal? No problem!

Call WesternFX today and avail the assistance of our world-class experts. We will have a detailed conversation to ensure you are equipped with the best of trading accounts and provisions to nail profits. Reach out to us now and get a free quote! Success awaits you, avail our assistance and grasp it!

3 Fundamental Analysis Indicators You Should Be Aware Of

Fundamental analysis is the butter to the bread for many Forex traders. An analytical field in itself, foreign exchange is filled with trends, numbers and patterns, which you will have to identify sharply in order to make the most out of a trade. The Fundamental analysis put simply is the process of studying economic, social and political factors that have the potential to affect a currency’s value. Before you go on to conduct fundamental analysis on today’s markets, there are some indicators you will have to employ to get the best results.

Forex Trading In Nepal

Here are 3 fundamental analysis indicators used by all Forex traders:

1) Producer Price Index:

The PPI gives you a producer perspective of the change in the prices of commodities. Having this index helps you gauge how valuable a currency will be before you can pick it as your currency pair. Studying the PPI of a country helps measure which of its commodities offered to the outside world will grow in value, which if they should also lead to a growth in currency value simultaneously, and hence benefitting Forex Trader around the world!

2) Consumer Price Index:

A measure of consumer prices, the CPI helps keep a track of what products customers are buying on a regular basis. The rise in CPI value leads to inflation, wherein products and services get priced higher.

3) Gross Domestic Product:

The value of all the goods and services a country provides at any point of time is summed as GDP. The gross domestic product is an essential element in measuring the economic stability of a nation. Through this indicator, you can measure how successful a country is and how valuable its goods and services are. When a country has a good GDP value, it inadvertently has a good currency value too.

Many Forex Traders In Nepal are adopting the fundamental trading approach, to get a better grip over the markets and bag profitable trends. Sign up with WesternFX today, and learn the art of Forex analysis! We house experts who have been in the field for years, and over time, mastered the various nuances. Assisted by our professionals, you will hone your skills and draft winning Forex trading strategies in no time! Call us today to get started.