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Hafizzat Rusli one of the best Trader and businessman provides you best tips to make a successful feature in Trade industry.submitted by hafizzatrusli to u/hafizzatrusli [link] [comments]
Foreign exchange is truly a domain of wonders. From its vastness to its profitability, there's a lot to experience, including the profit. As a Forex trading beginner, you will have a lot to grasp, which might often leave you intimidated, that's the nature of any online trading. While many feel Forex to be scary, it's just a matter of perspective! Forex trading when approached right will be a breeze. Agreed that losing money is an unpleasant experience, but losses are a part of the game and a natural consequence. The currency trading isn't about making profits all day; it is about making more profits than losses, which isn't that easy as you think.
However, you can achieve consistent profits in Forex by following the 3 crucial tips as in the following lines.
Here are 3 simple steps to get started with Forex and see profits:
1) Devise An Impeccable Plan: The Forex trading strategies you employ will be the cornerstone of your trades. This is why the plan devised has to be absolutely on-point. Novice Forex traders, driven by the rush to profit, fail to give prioritize strategizing over trading. Hastiness in trading will only lead to losses. With a good strategy to rely on, you will be able to give yourself direction. That's one of the main reasons a plan is required. When backed by a plan, you will know what has to be achieved, how it should be achieved and the problems that said achievement will come with. Starting off, spend more time learning and devising plans than trading.
2) Learn Different Techniques and Approaches: Beginners often tend to stick to the same few strategies and currencies. The beauty of Forex trading lies in the freedom it provides traders. You are free to work with any strategy you like, on any timeframe and with any currency pair! Though there's such flexibility, many Forex traders tend to work with the same techniques. As a beginner, it might be risky to try different approaches, but you can learn them, practice on a good Forex demo platform and implement when you feel confident! Diversification is the key to achieving currency trading success.
3) Keep the Risks and Expectations Minimal: What you expect from your trade is what you will chase, so keep them small and real. Sometimes, small trades can help you test the strategies, and failure won't affect you much either. Expecting an overnight profit of a million dollars isn't going to work out! Similarly, the risks you take to achieve said expectations should also be affordable. Many Forex trading beginners risk too less or too much and end up paying a hefty price. Dream big, but dream real and always knows where to draw the line.
These 3 simple Forex trading tips will get you on your feet swiftly and help you master the art of Forex trading in no time! Make the most of it.
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Hello I am Hafizzat Rusli highly skilled professional in trade market. Here I offer you some important facts and reason for loss in market.submitted by hafizzatrusli to u/hafizzatrusli [link] [comments]
I am a professional trader and businessman. I am owner and founder of hafizzat Rusli bhd. Here we provide best trading courses to make people expert in trade market.
Here, I mention 5 main reasons why traders expertise failure within the Forex market.
1. Lack of Forex Education:
Today Traders face misfortunes inside the Forex showcase fundamentally because of they come up short on the right amount of information and instruction with respect to the style during which the market capacities. Actually, a few of them don't wisdom to evaluate the principal markers, numbers and along these lines the perfect time for mercantilism. When it includes undefeated Forex signals, merchants ought to instruct themselves with respect to the market standards and mercantilism strategies. Moreover to the present, they need to conjointly set themselves up for each sort of situation. Keep in mind, each sort of dealers exit inside the market, and you should be prepared to enter and leave your exchanges, depending upon the economic situations and elective elements.
2. Absence of trading recommendation & Strategy.
Inability to make a prove or undefeated mercantilism methodology is another reason why brokers end up confronting disappointment inside the Forex showcase. Regardless of what you are doing, it's impudent that you essentially style a mercantilism technique that improves your mercantilism vogue rather you will cause a progression of misfortunes that will drive you to stop the market. in order to make the right procedure, dealers should starting teach themselves with respect to the market and mercantilism strategies. Constancy and mental soundness square measure elective factors that may help you achieve the day's end. One will ceaselessly choose demo mercantilism to know anyway the market and very surprising money sets work. When they're familiar with the monetary forms, merchants will interface in mercantilism sessions and have some expertise in markers to detect their optimal mercantilism methodology. It's consistently a genuine arrangement to check your system to see whether it's beneficial or not. Keep in mind, this may devour heaps of it moderate, anyway inside the completion, it's ceaselessly higher than losing heaps of your well-deserved money.
3. Risking huge cash with each Trade:
Proficient brokers ne'er hazard heaps of their exchanging procedure money once it includes forex exchanging. Despite what might be expected, merchants WHO square measure either not used to the market or have next to no aptitude around Forex Trading, normally chance ten p.c or even a ton of their mercantilism money on one exchange. this might be a hazardous situation and much of the time takes your concentrate unapproachable from the mercantilism methodology. Therefore, dealers get yourself securing misfortunes. To procure reliable benefits, merchants should beginning see furthermore as deal with their dangers and later spend significant time in acquiring money. In a perfect world, you shouldn't be mercantilism, if there's intemperate hazard worried during an exchange. This style you'll survey your situation and accept a call thus.
4. Lack of Mental Preparation:
Absence of mental arrangement is one more motivation behind why brokers endure misfortunes inside the Forex Signal . Dealers ability enumerable feelings once they put their money in forex mercantilism. Subsequently, it's significant for them to be prepared each rationally and mentally rather despite everything they'll acquire misfortunes.
5. Not Good Trading Day:
While, a few wouldn't like to trust it, anyway basically, brokers do ability perilous mercantilism days. this can be one among those variables that square measure on the far side their administration. despite anyway well prepared you will be, things like the mediation of money, glitches inside the mercantilism stage, streak crash and cataclysmic event among others may conflict with you, prompting serious misfortunes. Be that as it may, on the off chance that you're prepared to deal with your dangers, at that point you generally get the opportunity to make up for your misfortunes.
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If you are a forex trader (whether a beginner or experienced), you will be aware of the fact that you rarely get a company of fellow traders. The traders who get to have a first- hand and personal interaction with the other experienced traders are either the hotshots who usually work on a bank’s trading desk or the one who is taking care of an investment firm’s primary account. Most of the individual traders need a forex mentor for guidance. It is necessary to have a mentor if you want to climb the ladder of success in forex trading. Finding a trustworthy mentor is also a task in itself. To find one, every trader including you will have to do research by going through books, forex magazines, blogs, forums, etc.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
As per the definition, a mentor is described as a trusted guide or counselor. Though to find a genuine mentor in the forex world, you will have to look for various factors to be sure of your choice. If you find difficulty in doing so consider reading the following mentioned qualities of a genuine forex mentor.
1. Should Be Able To Convince You
There are many kinds of people in forex trade, even the ones who know nothing about forex trading. And these are the ones who pose as a forex mentor and victimize the newbie forex traders. By using impressive forex jargon and few trading strategies they scam people into a trap. If you are new to forex trading, never get scammed by such an imposter. Learning jargon of forex trade is no big deal and can be done by a teenage kid too. To be convinced you actually need to know how long this person has been working as a trader and what is his track record.
2. Should Have An Inspiring Personality
Many people would say that a person who is a mentor also must have learned from books of forex trade. And since you too can do the same, then what is the need of a mentor to learn forex trading. The answer to this is simple and it is that it sounds easy to learn by reading a book, but can be quite monotonous. Thus to maintain your enthusiasm you need to have a mentor who has the talent to inspire you. If your mentor cannot inspire you, then it is better to use a book.
A book can teach you trading but how to maintain your cool, how to trade without getting stressed, things like these will only be taught to you by a mentor.
3. A Good Mentor Can Be Trusted By The Students
To be a good forex trader with the help of a mentor, you will have to open up about your trading style and even your private personality to your mentor. You will be able to do this only if you have trust in him or her. Gaining trust is one of the most difficult things in the world and if your mentor can gain your trust, you can consider him or her to be a professional mentor for forex trading.
4. Should Be Able To Back Their Word
To get a student every mentor will give you a word of 100% success rate but since it is known to all how volatile the forex trade market is, how is it possible to always have a winning trade. A mentor who is professional and trustworthy will let you know the facts (both good and ugly). It is the duty of a mentor to guide a newbie about the tough experiences of forex trading, so he or she can make up their mind if this trading is their cup of tea or not.
5. A Genuine Trader Will Teach You How To Trade Without Help
There can be a number of professional mentors but the difference between a true mentor and them is that only a true mentor will also teach you how you will be able to work without help. A pro mentor will only teach you complicated techniques and ask you to come back when you are in trouble, whereas a true mentor will teach you in a way that you will be able to find a way out of a never experienced situation too.
Hafizzat Rusli is a mentor who has all these traits. To know about his results with his students, you can visit his website. He offers a forex trading course that has helped students from all parts of the world. To know more about Hafizzat and his courses click this link https://www.hafizzatrusli.com/trading-courses/
One of the most common ways of getting started with Forex trading is through a Forex broker. When you are a beginner Forex trader you are most likely to opt for the same alternative, but the mistake that most rookie traders make is choosing the wrong broker. If your first step does not go right then you can merely depend on luck and in a competitive field like the Forex market, being lucky is very rare. The best alternative is to have the right information and also use it well.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
If you are thinking that how a Forex broker can be so important, here it is. The broker you choose will be the one that will be keeping your invested money in the account. Apart from this, a good broker will also be providing you their expertise about the changes happening in the market. This expertise comes with a fee but it is a small amount to pay for the information that can help you not just earn profits but also convert a loss into no loss.
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Choosing The Perfect Broker
A good broker will be transparent regarding his fees, commissions, etc. but mostly it is not the case. If you have not done your research on a broker, well you might have to face some unwelcome surprises. So you do not have to face all these unpleasantness, here is a guide to choose the right broker.
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1. Figure Yourself Out As An InvestorDifferent brokers offer different kinds of services and you will have to figure which kind of service will suit you the most. Whether you are going to invest big or small, how often you would like to invest, these are the things that can help make a final choice but that is not it. Choosing the right broker takes a lot more than this.
2. Figuring Your AffordabilityThe brokerage companies charge you a transaction fee. If you are a beginner and invested a small amount just to try your luck or to gain initial experience. Turns out you earned the profit, but what if the brokerage fee is 2 times more than what you earned. This will be the kind of shock that will leave you feeling humiliated for not choosing wisely. As a beginner choose the broker with less fee but also make sure if the account being provided is secure. The next point is about all that.
3. Always Choose A Regulated Broker FirmA regulated is important to choose because that will automatically take care of the various security issues. If you are choosing a broker in the United States of America, he will be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Similar organizations are present in France, Germany, United Kingdom, Austria, Canada, and Switzerland. The presence of regulating organizations does not mean that all the brokers are regulated so pick wisely. If you want to be sure if your broker is actually registered under the NFA, you can visit the website of NFA and cross-check to be sure and safe.
4. Be Thoroughly Informed About The Terms And Conditions Of The Brokerage FirmThe rules and regulations of a brokerage firm can be tricky to understand at times. If you do not take your time to understand these terms well and choose the broker just like that, there will be times when you will want to change the past but will not be able to. For example, some brokerage firms do not allow you to withdraw your investment or trade it instantly. In situations like these, you will be at a major loss. Although such terms also come with benefits, but that depends on the kind of investor you are.
With some brokers, the rules are as such that closing your account will be a tedious task. The broker does not want to lose you as a client and he/she can try various things for this. So, if you are willing to withdraw back you might have to waste a week's time or more with unnecessary things like filling lengthy forms, speak to the company's representative, take surveys, etc.
5. Find Out If You Will Get 24/6 coverage24/6 means that you can consult your firm's customer service anytime between Sunday afternoon and Friday afternoon. Before you finally invest, put your broker through a small test. Give a call and see how quick and relevant are the responses from the broker's end.
Apart from choosing the right broker, you will also need to have a mentor to learn more about currency analysis and other factors responsible for Forex trading. You can always look up for a trading course online but if you want the best then Ha is your answer. to know more about his Forex trading course click here.
Whether you are new in forex trading or have been doing it for a couple of years or more by now, the motivation to keep doing things stays when you are getting success. The traders who have been trading for a while now have learned many things in their career, and that is why they are also more successful than the beginners. They do a few things that are completely different from the beginner traders, and in this post, we shall be talking about that. If you are aware of the difference in trading styles of seasoned and beginner traders, you can bring a change in your style and take things to a higher level.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
A Seasoned Trader Is Not Trading 24/7
If you are a beginner you must be confused to know that a seasoned trader trades quite less than a new forex trader. Actually what the new traders have started doing these days is that they trade often in a day. It is something that the seasoned traders will always avoid doing.
The traders who are new to the forex trading see forex trade to be like that. They understand forex trade to be some kind of a job where a trader has to be involved in the trade at any cost. This is what they have also been earning from the internet.
The new traders also sometimes suffer a loss because of this approach. What they do is that they keep a constant check on the market and keep looking for trades which they can open and close quickly. Their purpose is to get into as many trades possible in a day and earn some profit. While doing so there are times when such opportunities backfire and turn into a loss.
On the other hand, the seasoned traders do not try to work out every opportunity that comes their way. They have their style of trading which has been developed by them in their journey as a forex trader.
The Style Of The Seasoned Traders
A seasoned trader will look relaxed to you, unlike a newbie. They do not even care about every opportunity that hits up the foreign exchange market until it is an opportunity to reap high-quality results. It is very important to note here that a seasoned trader would only involve in a trade that has been planned already. For example, if a seasoned trader feels that the right area to buy is 1.2000, then no matter what, the trader will wait for the time when the market reaches this level.
In a nutshell, a seasoned trader's job is to observe the market and make a move when the market is right to trade. In the meanwhile, they do not panic or bother but just relax and enjoy life. A seasoned trader's attitude is relaxed and they live a very different lifestyle. This also helps them to have a cool mindset while trading and concentrate on it fully.
Seasoned Traders Look For Quality And Not Quantity
In the forex market, you can find A-grade trades, and also some inferior ones. If a trader involves in trading often (3 to 4 times a day on a daily basis) it is obvious that the A grade trades will be less and inferior ones would be more. This trader will be putting in more effort and time and still not be able to hit such a trade that makes him or her win a substantial profit. Whereas the seasoned traders do not put in so much effort on a daily basis but just do this for the quality trades.
To get quality instead of quantity it is important that you start trading the way seasoned traders do. For this, you will have to have a strong base of planning and interpreting the fluctuations in the currency market. You can start a forex trading course to make yourself strong and efficient like a seasoned trader. For the best learning, it is important to learn from a good mentor like Hafizzat Rusli. He has helped many students from different parts of the world to be successful traders. To know more about him and his trading course, click this link https://www.hafizzatrusli.com.
In the career of every trader, there is always a time when the market is not favorable. It is simply because every trader will have his or her trading style and the conditions of the market keep changing. When you will be in such a situation, the first thing that you would be doing is simply praying for things to change and favor you. If we talk about the actions that a trader would be taking during such a situation are, either to close at the bottom or top or to go with the experience and instead of closing, you wait for the situations to change.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
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But when the market changes are not favoring your trading style, then the worst happens no matter how long you wait and eventually you have to close the trade and suffer a big loss. If it has happened to you, one thing that you should know is, the major reason for this is not the trading conditions in the foreign exchange market, but because of your risk management is not so strong. Your trade is more exposed to the risk because of which you suffer a greater loss.
In beginner traders, one common habit is observed and it is that they plan a lot about what trade to take but never plan about the risk management and the exit positions. This is the habit that increases the amount of risk and bringing your trade into trouble instead of earning your profit. It is important to understand how much risk you can afford for a particular trade. If you do not do so, then you will surely end up taking more risk than you can afford to take. This further hampers your decision-making abilities as you have the fear of losing. If you have planned the risk then this fear will not be affecting you as much as it will when the risk has not been planned.
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And as you know, when you are trading with fear in your mind, you are prone to make very non-professional mistakes. Managing risks is important because you can never be sure about the currency exchange market situations. There is a lot of volatility, and one has to do risk management to be safe from the unfavorable market conditions. In this post, we shall talk about the most controllable factors that you need to reduce your exposure to risks.
1. Right Position Size:The position size of your trade can be big or small, but you should know if you are in control or not. If you are holding a large position size, make sure that either you are confident in your personality, or your plan does the same for you. If your plan is not so strong, then trade a position only if you can afford to bear the losses. When you have psychology like that, you do not have trouble in doing the trade. But if you are not confident and neither has a plan to execute a trade, then trading with a small position is the best.
2. How Long To Hold A Trade:Many traders hold the trade for long but this may not work the same way for all forex traders. It is obvious that the more time you are holding a trade, the risk keeps on increasing. Before opening a trade, make sure that you have set duration and you should stick to it, no matter if you are getting into a loss or even into a profit.
3. Stop Loss StrategyEvery trader needs to have a stop-loss strategy to make sure they are not exposed to the risks. A stop-loss strategy helps a trader to know when is the right time to stop trading for the day, especially when they are incurring continuous losses. Not implying a stop-loss strategy can even lead to a complete wipeout of your trading account. Whether you are a full-time or part-time trader, you need to know the strategies that protect you from losses.
These were just the basics and while it can be very helpful, there are also many other effective strategies that you can learn at the forex trading course designed by Hafizzat Rusli. To know more click the link here https://www.hafizzatrusli.com/trading-courses/.
In all the fields the most successful people have just one secret and that is to follow a set of rules without a fail. Forex trading is no different from other professions. There is a list of things that all successful traders have been following and whether you are a beginner or a seasoned trader, following the tips mentioned in this post will also smoothen your way to progress.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
1. Aim For A Goal And Define Your Style For Trading
Having a goal or destiny set in your head always helps you reach it easily. It clears up your mind, helps you eliminate extra or unnecessary things, pick up the essentials and define a pace to achieve smaller goals.
With defined goals, you will be able to choose the different ways to achieve them and also help you to figure which of the ways will be the best. It just does not help you choose the best way but also gives you an option of plan b in case the prior does not work well for you.
2. Picking Up The Right Broker And A Suitable Trading Platform
The paramount of being a successful trader is to know what trading platform suits you the best and if you have also chosen the right broker. The platform you want to work on is very much related to the broker you choose. It is the broker who will be providing you with a trading platform so you must choose the particular broker who can provide you the platform which you want to use.
Do thorough research on both the trading platform and the broker because an appropriate trading platform is useless if the choice of broker is not right and the vice versa.
3. Be Consistent With Your Methods
Before starting forex trading professionally you have to choose some trading styles, right broker, trading platform, etc. As important is this step, sticking to the methodology is equally significant. If you keep changing your methodologies and strategies, you will be on phase one and that is going to take you nowhere near to the success. Once you have picked up your trading style (which should also be done after complete research) then stick to it and keep making yourself better at it with practice and time.
4. Do An Analysis Every week
The forex market is closed on the weekend and that is surely the time to relax for a while but also a thorough analysis. On the weekends you can take some time out to study the weekly charts, go through the political and geopolitical news of the country whose currency you have invested in. This strategy keeps you on toes and in case there is some loss coming your way you can reduce its impact or even dodge it completely.
5. Determine Entry and Exit Points
Many traders get confused by conflicting information that occurs when looking at charts in different timeframes. What shows up as a buying opportunity on a weekly chart could show up as a sell signal on an intraday chart. Therefore, if you are taking your basic trading direction from a weekly chart and using a daily chart to time entry, be sure to synchronize the two. In other words, if the weekly chart is giving you a buy signal, wait until the daily chart also confirms a buy signal. Keep your timing in sync.
6. Expectancy Calculation
The formula for determining the reliability of your system or strategy is known as expectancy. By calculating expectancy we mean that you should be comparing your wins with your losses. Once you know if you won more or the times you lost was more, the next step is to figure out how big were both wins and losses.
E= [1+ (W/L)] * [P-1]
E is expectancy, W is for wins, L is for losses and P represents win ratio percentage.
In forex trading, this is a very important thing to keep on the right track.
7. Have A Formal Printed Record Of Your Steps
One of the best tools to learn and grow is a printed record. You can print a chart use it to record things like entry and exit points, the reason to make a trade, the reason to retreat from a particular trade, the trades in which you were overconfident and suffered a loss, the wise strategies that you followed, and similar things which in future will help you to make better decisions.
Get best trading courses by professional team of Hafizzat Rusli. He is also a famous trader and businessman from Malaysia. He has enough skills to trained people as professional in Trade field. Contact with Hafizzat Rusli via his official web page. Today in this blog Hafizzat offers some important benefits of trading for beginners.submitted by hafizzatrusli to u/hafizzatrusli [link] [comments]
In the field of Forex trading, small is big. With over $5 trillion on the line, traders everywhere look to get a piece of the pie. The hunger for profits leads many to employ sophisticated means and drive towards big profits. One thing to note here is that big profits come with bigger risks. However, when you aim small and try to profit from the more minimal movements, you end up making decent wins and also secure yourself from harrowing market risks.
So here comes the dialog of choosing the trading account! Is it to be a little trading record or a higher? All things considered, both of it has their own preferences and disservices. In any case, we will examine here about how picking the littler Forex trading record causes the novices to accomplish benefits in brief time! How about we learn them in the accompanying lines in detail.
Here are 4 reasons why trading on smaller accounts is a smart move:
1) Manage Your Investments in good way : The typical trading mentality is that when one has hefty capital, he/she tends to exhaust it on trades completely. But if you follow a tactical minimal approach, not only will each investment be rewarding, you will still have a chunk of capital left at the end of the day. To succeed at Forex trading, you will have to ensure that the majority of your trades are profitable and losses are comfortably affordable, and trading small helps achieve this.
2) Minimize Losses: It is no alien concept that big risks tend to result in big profits. When you play around with large capital on risky trades, you are risking it completely. Keep in mind that large profits aren't worth much if you lose them on the next big risk you take. With minimalistic Forex trading strategies, however, you can minimize losses greatly. Smaller movements in Forex seldom bring in unmanageable losses!
3) Keep Your Income Steady: As a consequence of small losses, you get to make steady profits. Though minimal, the money you make will compound into an amply decent amount at the end of the day!
4) See Higher Rates of Profits: What a few traders neglect to acknowledge is that little exchange developments have a higher shot of happening. Take scalping for instance; it's one of the best present moment Forex trading procedures since exchanges on such little positions will undoubtedly observe development! So when you make exchanges that have a specific surety to them, you will almost certainly keep the benefits continually streaming.
Hope you got the top 4 reasons why selecting the smaller trading account benefits you more than the higher! Make the most of it.
For more related tips and updates keep following Hafizzat Rusli. Of you want to become a professional Trader then join Hafizzat Rusli Professional Trading Courses For more information visit : http://hafizzatrusli.com
Becoming a Forex trader is very simple, but making it work into a successful future is equally complicated (but not impossible). You must have seen many people who dabbled into the Forex trading but could not last for more than a year, or in some cases even a couple of months. Because of not being able to make it to the position of a successful forex trader, they get negative about Forex trade. They usually suggest people to not have big expectations from this career or to not even give it a try.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
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With all due respect, these people had a bad experience, but a different person can experience things differently. Rather if the people who failed as a Forex trader could also have had a different experience if they had visioned the growth, considered steps involved to be successful, and implemented them at the right moment. The guaranteed way of becoming successful in Forex trading is to have a vision. In this post, we shall talk about the methodology that a trader should adopt to have sure success in the career of Forex trade.
Have A Vision
A Trader should vision himself few years ahead from now. This should not be measured only in terms of money he or she has earned. The trader should set targets on improving their knowledge, experience, and strategies too. Focusing on things like these assure that the graph of your growth is always moving upwards.
A trader should not get discouraged by a loss and neither get overconfident by a streak of profits. If there is a loss, the trader should be determined to understand the flaws and take the necessary steps to work on it. If the trader is having profits, then it should be seen how big the profits are, and if everything looks good, then too the trader should not get overconfident.
Implementation Of The Right Things
No trader can be perfect, no matter how much experience they have gained. The biggest reason for this is that the forex market itself is so volatile and unpredictable. Even if the trader has been able to work some strategies for a certain duration, it can never work forever. Thus it is important to never leave the focus and keep taking steps to make the strategy more strong and counter-effective.
With time and growth in this career, you will have to make full utilization of the lessons. The best way to do it is by keeping a record of your ups and downs and take steps to make things better.
Taking Guidance From A Renowned Mentor
It is possible to learn things by yourself but it takes time and a lot of effort. There are also many moments when you do not get the results and you feel frustrated. Though if you are being guided by a mentor then things will get very easy for you. This is not just for forex trading but applies to all the professions. In other professions having a degree is mandatory and that is why people seek guidance from mentors. There is no requirement of a degree in forex trade but still having help from a mentor can make a lot of difference.
Another important thing is that a mentor should be genuine and not an imposter. If you do not choose the right mentor, you will not be able to learn anything and just waste your time and money both. Even a famous successful forex trader like Hafizzat Rusli has been victimized by a fake forex mentor.
To find the right mentor you should know 2 things. The 1st is how this mentor is doing as a forex trader and 2nd is to know the results of the students of this mentor. If both are satisfactory, then you know that you have found the right mentor.
Follow these 3 steps and you will see that becoming a successful forex trader is tough but not impossible. If you are inspired by this post and willing to start a forex trading course, click the link here https://www.hafizzatrusli.com
Whether it is a football game, a job interview, a car race, or even trading in the Forex market, a well-tuned mind can achieve positive results very easily. Many Forex traders who are new to the Forex trading are either overconfident or too much timid while trading. Both the conditions here do not represent a balanced mind that is perfect to be successful at Forex trading. You may know various strategies related to the trade, but if your mental state is not balanced, you will have trouble applying those strategies properly. In this post, we shall talk about how a Forex trader should tune his or her mind so they can transform their ordinary performance to an extraordinary one.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
1. Not To Bother Yourself With The Results Of Live Trades
Traders who have just started or the ones who are not so successful, a common thing between them is that they are always engaged with the results of live trades. As a beginner, it is understood, but when you have gained experience, then it is time to not bother yourself with live trades. Once you have made the trade or clicked on the buy or sell button, it is time to stop thinking about it. If you do not stop thinking, it consumes a lot of energy of yours. It is a strain on your brain and thus a barricade in the growth of Forex trading profession.
After selling or buying the currency, if you are continuously looking at the charts of the currencies on your computer, you are in a way wasting a lot of precious time. The time that you can use to utilize to learn new things. Moreover after making the trade, observing the charts will not make any difference to the results, so why take the strain and lose mental balance.
Sooner you learn to disengage yourself from the results of the live trade, you will start seeing progress as you will be more balanced mentally.
2. Prepare Each Strategy As If It Is Your Last
In the currency exchange market, it is not just you who is trading. If you started today, there will be many people who also started on the same day, and a lot more than that will be experienced traders. These experienced traders are having more knowledge, capital, and experience than you. So, the way to beat them is to be prepared mentally and to be very strong. This kind of attitude comes when you place any of your strategies in such a way that it is your last chance.
You might be wondering that earlier we suggested you to not take the pressure and now we are going to another extreme. Well, when you have used the strategy then there is no point in utilizing your brain, but when you are just forming one, then it should be a do or die kind of a situation. Planning each strategy with this kind of attitude gives you an extra edge against any of the competitors in the market. Whether you have a small capital or big, you should always invest it in such a way that it is your last chance. if you lose it you lose everything. But remember to relax after you have made the trade.
3. Don't Be Affected With Both Profits And Losses
Whether the money comes in or it goes out, it changes people. Money takes away the mental balance of most sorted people even. In case if you are losing the money you start getting paranoid and in case you start making profits, you start getting overconfident, casual, undisciplined, etc. It is in your hands how you keep yourself balance in both the scenarios. If you have not yet figured a way to do so, you should do it as soon as possible. If you are able to do this, then only you will be to implement the 2 tips that were mentioned earlier in this post.
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These are some of the basic tips that every Forex trader should follow. To learn more and be more balanced, it is recommended that you start leaning in a Forex trading course under a genuine mentor. To learn it from Hafizzat Rusli who is one of the best mentors of Forex trade, click the link here.
Whether you are into forex trading or not, you must have been hearing that the dollar increased or decreased today, the price of XYZ currency is going against ABC currency and so on. All of this happens because the values of currencies are volatile and can change instantaneously. Various bodies keep a check on the currency values as the fluctuations in the currencies have a large impact on economies of the countries, foreign trade, etc. The fluctuations in currency values also impact business groups and individual traders of the currency exchange market.submitted by HafizzatRusli14 to u/HafizzatRusli14 [link] [comments]
As a forex trader, it is your job to keep a check on the fluctuations in currencies as it can be an opportunity for you. Though if you are not alert about the fluctuations you might have to suffer a loss. To predict the fluctuations in the currency values, you have to understand the factors influencing them. Go through this post to know 3 factors that are responsible for currency fluctuations.
1.Difference In The Impact Of The Inflation
Inflation has an impact on all the currencies but the degree of impact is differs in different countries. The countries where the impact is less, the value of the currency will increase and where the impact is more, the value will decrease. This is a basic concept for a forex trader, and what he or she should be concentrating on is the factors that impact inflation. Having an understanding of the various factors that impact inflation will allow the trader to read the market and decide if they are investing for or against a particular currency.
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2. Interest Rates Set By Central Banks
The exchange rates, inflation, and interest rates are all connected. The interest rates are regulated by the Central Banks and they do it to increase the interest rates. If the interest rates are set high by the Central Banks then the number of foreign investors will also increase. This will have a positive effect on the value of the currency.
As a forex trader, you can figure out if the value of a currency will increase or decrease if you know the pattern of central banks on changing the interest rates. The best part about forex trading is that whether a currency's value is increasing or decreasing, you can use the results to conveniently make profits.
3. How Is A Country Performing Economically
The economic condition of a country is responsible for the increase or decrease in the value of its currency. Better is the economic performance, more will be the interest of foreign investors and thus it is a chance for better currency value. As a forex trader, it will be a part of your job to be updated about the economical performances of various countries. This way you will have an idea of how a currency can rise or fall and thus you will be able to make your decisions on buying or selling a currency. If you have bought a currency whose value is increasing, you can keep it with you and sell it when you feel that it has reached its highest value. In case there is a currency whose value is low, but if you predict that the foreign investors are getting interested in it and that will lead to increase in value, you can purchase that currency at a low value and sell it later to make profits.
These 3 factors mentioned in this post will be of great help, especially to the new forex traders. If you are taking forex trading seriously and thinking of it as a full-time profession, then you should always be taking guidance from a mentor.
Hafizzat Rusli who is counted amongst the most successful forex traders has created his forex trading course. This course has helped many people around the globe to start a good career in forex trading.
In the recent past, there were headlines like pembongkaran penipuan Hafizzat Rusli on the internet. Many scammers created fake ids of Hafizzat which lead to such rumors and still, these scammers are trying to mislead people with the fake ids of Hafizzat. If you are willing to join the trading course by Hafizzat, don't be duped by these scammers. To go to the right source click the link here.
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