Advantages of Forex Trading – Yes It will Make You Rich*

From the outside, you might be wondering as to what makes Forex trading such a lucrative market, and why traders flock to it! Currency markets boast a trading value of around $6 trillion today, and this massive number serves as a lure that reels in traders in hundreds, by the day. While many assume that the money is what makes Forex alluring, the truth is in fact much simpler. As a Forex trader, you get to enjoy several small but impactful privileges, which make the entire ordeal worthwhile! To add to it, there’s also good money involved.
 

4 Reasons Why Forex Trading is a Catch:

Advantages of Forex trading - yes it will make you RICH*

1) Immensely Liquid Markets: Currency markets are constantly moving, making it extremely liquid. This can be a double-edged sword! Liquidity comes with profits but it also brings in risks. However, all you need is proper risk-management and you can reap the benefits this field offers!
 

2) Round-The-Clock Access: Forex markets are open for 24 hours and for 6 days. This means that irrespective of the time-zone you live in, you can participate at Forex trading in Pakistan. The 24x7 nature makes currency trading one of the most profitable markets globally. Keep in mind, however, that the value of a currency pair also varies with time-zones. It might see a profitable trend in the American region but drop when Tokyo markets open.
 

3) No Starting Difficulties: Unlike many investment fields, you can start Forex trading with a few hundred dollars! Several zero-capital and micro accounts are available for you to choose from, that require minimal capital. This investment along with a laptop and internet connection will leave you set and ready to trade!
 

4) Leverage Trades: Leverage is the provision to increment your usual investment with some more money that will ultimately help you hold positions of larger value. Leverage is as risky as it is helpful; while it does boost your position, it can easily bring you down as well. This is why stop orders are prioritized by several Forex traders and capital-management is always focused on.
 

If you’re thinking about starting Forex trading in Pakistan, now’s the right time! With a plethora of advantages to its name, the currency market has more rewards than just money. Sign up with the world-class broker WesternFX today, and conquer your trades! Assisted by our professionals, you can avail everything from trading platforms to Forex trading strategies, and soar all the way to the top. Call us today to get started!

3 Powerful Forex Trading Strategies to Target in 2019

Foreign exchange is swiftly becoming one of the most competitive trading markets today. A value of over $5 trillion is bound to be a strong lure to traders worldwide. With each passing year, the crowd seen on Forex trading grounds only increases. Growing trends always give rise to new approaches. In this case, when Forex trades become difficult, traders come up with modern methods to deal with the toughest of the lot! Forex trading strategies are undeniably the most crucial part of any trade.
 

With all things considered, of the various strategies present, not all are as sharp as the markets today demand. 

Here are 3 of the best Forex trading strategies you can implement in 2019 for stellar results: 

Powerful Forex Trading Strategies to Implement in 2019

1) Scalping Trading Strategies: This is one of the most fast-paced trading strategies seen while Forex trading in Pakistan, and is incredibly effective. The crux of this plan relies on the fact that on small scales, markets move more frequently than they do on larger scales. Scalpers work on periods as short as a few seconds and cash in on market movements in these spans. As a scalping trader, you will have to be incredibly sharp and sensitive to make sure no move goes unnoticed. 

Unlike what many think in Forex trading markets, scalpers make a hefty winning at the end of each day, since the risks are low and the profit potential is massive!
 

2) Day Trading Strategies: As the name suggests, day trading is the act of buying or selling currencies within a day's span. One of the most advantageous elements of day trading is that large-scale market movements don't affect you one bit! Since this is also essentially small-scale, you are immune to the major movements. 

Day trading will put you in a rigid timeframe, where you will have to trade anywhere between a few minutes to hours, and capitalize on the movements you observe on these timeframes.
 

3) Swing Trading Strategies: In the top 3 Forex trading strategies, Swing is relatively a longer Forex trading strategy, swing trading puts you in a more relaxed position as far as duration go, but the other risks remain the same. A swing trader works anywhere between a few days to a few weeks and has to capitalize on the major market swings noticed when trends rise or fall.

While you do have a wide trading window, you have to be incredibly observant to catch the profitable swings!
 

To become successful at Forex trading in Pakistan, you will have to hone your approach and enter the markets with dexterity and adeptness. Difficult as they are, you can thrive and conquer the competitive Pakistann currency markets with the expert brokers from WesternFX guiding you! Be not shaken by the risks currency exchange bears, assisted by us, you will see raining success in no time!

Everything about Fibonacci Forex Trading Strategies – How to Use

Fibonacci levels are based on a concept come across commonly in mathematics. A tremendous discovery made in the 12th century lives to power several Forex trading approaches today, in the 21st century! These levels are employed predominantly in technical analysis, to better understand price movements and have a clearer view of the markets. Fibonacci indicators aid in technical analysis by helping spot the support/resistance points on a chart. 

Drawing a trendline between the high and low and dividing the vertical distance by the ratios of 23.6%, 38.2%, 50%, 61.8% and 100%, we get Fibonacci levels.
 

Fibonacci indicators are traditionally placed near points where price movements are observed, which in turn will give rise to new support/resistance levels. Technical traders employ this indicator while Forex trading to find out the best entry/exit points and stop-loss placement points. Unlike several other indicators, the Fibonacci levels are static, meaning they don't move with market movements. While many may think this is disadvantageous, it is quite the opposite! 

The stationary nature allows traders to study price movements immediately and act upon the same in an efficient manner, thereby making for a fine addition to a strong Forex trading strategy. 

Tips to Use Fibonacci Forex Trading Strategies 2019

 

Types of Fibonacci Levels:

1) Lines: The simplest of Fibonacci trading strategies, these lines are formed on the chart to look like a grid. By employing the Fibonacci ratio, the distance between these lines is calculated and employed for analysis. Depending on the movement of a trend, you can place stop-loss and take profit orders at specific points where you feel reversals may occur.
 

2) Time Zones: Unlike other Fibonacci tools used while Forex trading in Pakistan, the time zones allow you to speculate on the coming trends on the charts; this is done based on the previous momentum readings. Since this momentum varies from one currency to the other, and across multiple timeframes, it is seldom employed.
 

3) Fibonacci Channels:  To be put simply, these are an inclined version of the Fibonacci lines discussed above. Similar to lines, you can build grids and speculate price movements for a particular currency seamlessly.
 

4) Arcs: Stretched across the boundaries of a trend, arcs are best-used when the price movements are relatively flat. You can catch trend retracements by building arcs from one point of a trend to the other.
 

5) Fibonacci Fan: Like rays of light scattering from a point of origin across a radius, the fan is a tremendously dynamic Fibonacci tool. An uptrend is indicated by a fan being located under the price chart, and the opposite of this signals a downtrend.
 

6) Extensions: Based on trend waves and retracement waves, Fibonacci extensions point towards the next possible benchmark in a trend and works incredibly with a take-profit order.
 

Trading with Fibonacci Levels:

These levels can be used solo or in combination with other indicators. To employ them while Forex trading in Pakistan, you can set a pending order at a level 100 breakout after a retracement. By expanding the trend from the end point to the start, you get a detailed Fibonacci grid.
 

Pros and Cons of Using Fibonacci Levels:

Pros:

• What makes the Fibonacci level an impeccable indicator is its versatile nature. This decade-old theory is applicable to a variety of trades, through different Forex trading strategies, across varying timeframes and even in different trade markets!

• From finding exits to placing entries, you can employ Fibonacci levels across a number of different implementations.

• The static nature of Fibonacci trading strategies enables traders to pin-point the points of price changes accurately and accordingly take action.

Cons:
 

• To employ Fibonacci doesn't have any specific prerequisite; however a lot of manual work, like placing reference points, has to be done by traders prior to using Fibonacci levels. 

• Several other indicators, however, start working automatically when added.

• Additionally, to employ Fibonacci trading strategies requires an adept understanding of Forex markets, something several beginners might lack initially.

To get started with Forex trading in Pakistan, you will need a firm grip over how currency markets work. Right from basic entries and exits, all the way up to stop placement - learn the best techniques from WesternFX! The Pakistan currency markets reward only the sharp players, and with our expert guidance you can become on in no time. Call us today and get to know more!