Improving Your Trading Confidence By Focusing On Some Basic Factors

It can be tough being successful in professions where there is a lot of uncertainty. Forex trading is one such profession, but yet there are various forex traders like Hafizzat Rusli who have created a dream life for themselves by just doing forex trade. 

Though many people had to even quit trading because of the huge losses, and the reason for this was the uncertainty of the market. The market was unpredictable and will be the same in the future. Many traders have at some time experienced that they are gaining profits and suddenly in the very next trade, they would even lose their entire trading account. 

A trader can be affected psychologically by this and can tend to lose confidence. Losing confidence means that a trader should gain it back, or start thinking for retirement from this profession. If you do not want to switch to another career option and carry on with forex trading (with confidence), read the following tips carefully. 


1. Concentrate More On The Deed Than The Fruit
If you are getting into the profession of forex trading, it is sure that you are doing it to earn a decent amount of money. But the key to keep earning that money is to concentrate more on your play instead of the returns. If you can concentrate more on your process, you will be more close to having success. Like said before, forex trading is highly uncertain and thus a trader has to focus on what he or she is doing while engaged in a trade, instead of dreaming about what returns they will be earning.

Before you start with your live trade, you will have to come up with the plan. While creating the plan just concentrate on this, and when you are meant to start trading, follow your trading plan till the end. When you start trading in a disciplined way like this, you will slowly see your growth, and that will boost your confidence to a great level. 


2. Practice Is The Magnet For Confidence
If confidence was supposed to be metal then practice is the magnet. The more you practice more confidence you gain. This principle implies in extreme sports and the same way in forex trading

A trader who wants to be successful and perform well in forex trading should be prepared for every situation that the market can put in front of you. This can only be achieved when you have practiced enough to take care of all the possible situations. Many traders use the demo accounts to practice. In the demo account, the trading happens the same way as it would happen in live trading. The only difference is that you do not lose your money in the trading account. So you can learn here how to find a solution for any challenge. But you will get strong and confident only when you practice regularly. 


3. Negativity Repels Your Confidence
As the practice is the magnet for confidence, negativity repels it. You also must have observed in your routine life that all confident people are extremely positive too. In forex trading, various factors can make you feel negative, but your job is to keep calm. Even if you are doing a good job, stay calm and do not get overconfident. Overconfidence harms you, but negativity is so fatal that you can even lose your entire career because of it.

If you feel that you can get low because of a loss, then you either have the option of quitting the career of forex trading or develop a positive attitude.

It is not impossible to develop all these things in your trading persona, but when you are doing it by yourself, it can take a lot of your precious time. If you join a forex trading course, you can see improvements fast. To join and know more about the reputed trading course designed by Hafizzat Rusli click this link https://www.hafizzatrusli.com/trading-courses/

Tips That Will Be Helpful In Making Change To Your Trading Strategy

In forex trading, no matter how good your career is growing, there will be a time when you will have to bring a change in your strategy and trading plans. When you have been using a strategy for some time, you can start to drift away from your plan. It can be because of boredom or because your strategies surely need some change. No matter what is the scenario, in this post we will talk about some tips that will be a great tool to help you bring the change and also be able to sustain it. 


Hafizzat Rusli

1. Be Sure That You Need To Change Things
When you are feeling that you should be changing your strategies, think twice. Figure if it is just a feeling because things are not working fine, or you surely need to do this. You should know that if you are thinking of making a change, you will have to invest time and energy into it and if you are not sure of having this change, we would suggest you postpone the idea for now.

To be sure if your trading strategies need a change, then the first thing you will need to consider the reasons for opting for the change. Let us consider that you want to scale down your forex positions. This is the change that you want, and now the reasons for it can be, you were risking quite more than you were supposed to, you are trying a new strategy of tighter stop losses. When you keep analyzing the reasons you get more understanding and thus you can be sure if the change you are thinking about is necessary or not.


2. Work On One Change Before Starting With Another
When you are making a change in your trading plan, it takes a lot of energy and time. Moreover, there can be certain uncertainties when you are making a change. This is why it is recommended that a trader should only think of making one change at a time. When you are focusing on just one thing, you can do it more efficiently.

Though, most traders do not follow this and thus end up with a heap of stress and also losses. When you are handling more than one change at a time you will have stress which is bad for your forex trading career both in the present scenario and the long run.

3. Always Be On Your Toes
When you are taking just one change at a time, things will become easier for you, but that does not mean you should start taking things casually. This is a mistake most new forex traders do, and it becomes the major reason for failures in the future. When you have successfully made a change in your forex trading strategies, then it is time to make the best of this successful change. Since the change is also new to you, if you do not practice it, you might even get out of touch and thus not be able to make the best of this new strategy. Getting too happy or casual after one success is not a sign of successful forex traders. A successful trader never lets the guard down and maintains the dedication and focus.

When you are planning a change, make sure to use these 3 tips for sure. These should be a part of your psychology to make the best of them. If you are new to forex trading or it is for the first time when you are planning a change, do consult your mentor. A mentor can always be like a light in the dark and can take you through the most difficult kind of decisions easily. Yes, for genuine guidance you will have to have a good mentor by your side, who is also a pro at forex trading. If you do not have the right mentor you have a lot of chances of following the wrong path with a blindfold.

To know about the finest forex trading course click this link here https://www.hafizzatrusli.com/trading-courses/

5 Basic But Essential Tips That Would Be Useful For The beginner Forex Traders

Many new people are taking interest in Forex trade as it has a lot of scope for growth. To start Forex trade is easy but staying in it with consistent profits is tough. Because of this, many beginner traders are forced to quit Forex trade. Though if you have the right knowledge, it is also possible to earn huge profits. In this post, we shall guide you about 5 tips that are very basic but are the pillars of successful Forex trading

1. Figure Out A Way To Cut Down The Losses

If you see the science of Forex trading the key to success is not earning more profits but eliminating your losses. Your main aim should be to restrict draw downs and avoid to lose the trades. If you are not able to do this, then your entire trading account can be blown away. To do this, the best way is to plan your trades. Many seasoned traders also have few strategies that suit there trading style, and they mostly trade based on these strategies. A beginner trader can always use the stop-loss order to avoid impulsive decision making. If you want to follow a certain position which leads you to a profitable position, trailing is a good thing to do. If you see the science of Forex trading the key to success is not earning more profits but eliminating your losses. Your main aim should be to restrict draw downs and avoid to lose the trades. If you are not able to do this, then your entire trading account can be blown away. To do this, the best way is to plan your trades. Many seasoned traders also have few strategies that suit there trading style, and they mostly trade based on these strategies.

It will also safeguard you from unexpected reversals. A beginner trader should also concentrate on reviving the positions. This will minimise the risk of losing capital to almost minimum. 

2. Check Your Limit Before Opening A Position

As a trader, you know the importance of setting a stop on every trade. To set the maximum loss is also equally important. This lets you efficiently manage your trading capital. You have to remember a very simple rule which is to trade only with the money which is affordable to lose. As a precaution, you should also have reserved cash. When you are analysing the requirement of cash and the position size, you should see to it that you do not mix your trading funds with other funds. A good trader will always keep a limit to suffer a loss too.

Successful traders make sure that they never exceed this limit.

If your losses have been more and are nearing the loss limit set by you, the wise thing is to take a break from trading. You should see what is going wrong, come up with a solution to avoid further loss and then think of trading again.

As a trader, you know the importance of setting a stop on every trade. To set the maximum loss is also equally important. This lets you efficiently manage your trading capital. You have to remember a very simple rule which is to trade only with the money which is affordable to lose. As a precaution, you should also have reserved cash. When you are analysing the requirement of cash and the position size, you should see to it that you do not mix your trading funds with other funds. A good trader will always keep a limit to suffer a loss too. Before trading again, do not forget to have a look at your most recent trades, and compare them with the trading strategy that you are planning to use.

3. Use A Strategy Of Which You Are Fully Aware

Before using a strategy, get to know everything about it. Also, use only those strategies that will be appropriate for your trading style. If you do not know the basics of a technique, then you will not know how to make the right decisions.A good trader will always be aware of the loopholes of the strategy that they are using. Using complicated techniques will never help you if you are not acquainted with them thoroughly.

Since every strategy has some kind of risks, a trader should use only those techniques that are suiting their financial position. While gaining experience in Forex trading, you will also have to gain several techniques that can help you come out of different situations of the Forex market.

4. Be A Patient Trader

Being patient while trading is the key, and being patient is most important when you are opening a trade. Analyse a trade with your calm mind and a lot of patience. Another important thing to do is to evaluate in advance all the potential trades.

5. Stick To Your Plan Till The End

The key to success in Forex trading is there is a balance in hard work, good judgement, and patience. The beginner traders who have to quit Forex trading in their initial career itself is because they do not give to learn from a loss.

When you suffer a loss, it is important to study the mistakes, come up with a new plan to rectify the past mistakes and stick to this plan until the end.

You can improve your skills by joining a reputed Forex trading course. Make sure you chose a course that has been designed by a person who is also a successful Forex trader and the students of this person are also showing uniform improvement and growth. Hafizzat Rusli is one such mentor. To know about his trading course click the link here https://www.hafizzatrusli.com/trading-courses/




Getting To Know the Basics of Forex Market

Forex Trading Course

The forex traders trade in the forex market by buying or selling currency in the exchange of the another. This trade is done to make profits. The probability of earning a profit depends on the accuracy of market speculations done by the traders. To understand how the transactions are carried out, take a look at the examples below.


Example 1

A trader has 1200 USD in his account and GBPUSD exchange rate is 1.2000. With 1200 USD you will be able to buy 1000 GBP. The trader will be using the 1000 GBP for 1200 USD if he thinks that the value of the GBP will rise against the USD. Consider that the GBP rises up to 1.2200. The value of 1 GBP is now 1.2200 USD. So if the trader sells the 1000 GBP he bought to buy USD he will gain a profit. Now the trader will receive 1220 USD, hence making a profit of 20 USD. 

Example 2

A trader is having 500 GBP. The GBPUSD exchange rate is 1.6000. The trader speculates that the GBP will fall against the USD and thus sold the 500 GBP for 800 USD. The exchange rate is now 1.5800. Now with the 800 USD, the trader will be able to buy back 506.32 USD. Now he has a profit of 6.32 GBP.

With speculating the market a trader earns profits by both selling and buying currencies.

Understanding the Currency Pairs and the Cross Currency Pairs

Currency Pair is the main instrument of the Forex. You can trade more than 100 pairs of currency. The major traded currency pairs are known as majors or major currency pairs. They make 66% part of the market. Examples of these are GBPUSD, USDJPY, EURUSD, USDCAD, etc. The USD is world reserve currency and thus it is found in all the pairs mentioned here. USD is found in almost all the pairs and the pairs that do not have USD are the cross currency pairs. The rate of the cross currency pairs is calculated with help of USD itself. If we are talking a cross currency pair like EURJPY, then exaction will be done as EURUSD to USDJPY.

In a pair the currency standing first is the base currency and the currency in second place is the quoted currency. If a pair is USDEUR, then it says that a trader is buying or selling the USD for the EUR that is present in your account. If a pair like USDEUR = 1.3000, it should mean that the cost of 1 USD will be 1.3 EUR.

Quotation and Pips

In a pair the quoted currency (that stands second) shows the ratio of the two currencies. This ratio is known as the quotation. If we see the example of a classic version, in a quotation you will see 4 decimals. The change in the quotation is known as pip. If the EURUSD is showing a quotation as 1.2000 and it has an increase by 1.2001, then currency rate increases by a pip or a point. In the NDD and ECN accounts, there are 5 decimal places instead of 4. There are 2 decimal places only in pairs of JPY. And if we see a pair with JPY in NDD and ECN accounts then you will see 3 decimal places.

Meaning Of Ask and Bid

The quotations are available in a table and looking at these tables, you will also see two rates quoted in front of every pair of the currencies. These rates are the buying and selling rates. The buying rate is the high one and it is called the Ask and the selling rate is the lower one and it is the Bid. There is another term “spread” and it is the difference between the buying (Ask) and selling (Bid) rates

Hafizzat Rusli

If you aim to be a successful trader then you should definitely think of joining a reputed forex trading course. One of such courses is being offered by Hafizzat Rusli. If you have heard rumors regarding him like Hafizzat Rusli Forex Scammer, the best way to clear your doubts is to visit this website ( https://www.hafizzatrusli.com/student-testimonials/ ). Here you will be able to see the testimonials of the students of Hafizzat Rusli where they talk about how they got success with the help of Rusli. 

If you are determined, success awaits you at https://www.hafizzatrusli.com/

Learning The Forex Trade Arbitrage Strategy

In Forex trading, there are various ways to earn a profit. The most common method used by most of the traders is to anticipate the currency fluctuations. Another popular method used by the traders is to carry trades and then accumulate rollover profits. To execute this method traders buy higher-yielding currency and sell a lower-yielding currency simultaneously. The interest rate differential is the profit.

There is another strategy which can be used by the aspiring Forex traders who do not want to risk a lot of investment and yet earn a good profit. Forex arbitrage is this strategy, and if you want yo know more about this, this article is the source of the right information. 

Introduction To The Use Of Arbitrage In Forex

In the financial markets, arbitrage is a quite popular practice. The traders try to take benefit from the differences in the price of the same asset, in different markets. The traders practicing arbitrage would buy an asset or more and sell them in different markets. This is done if there is a difference of value in the asset and the profit is based on the price difference.

To simplify this read this example. A man bought a car in his country for $20000 and sold it another market where the value is $30000. This man makes a profit of $10000. Since we have taken this example to make you understand the arbitrage of the forex, we did not calculate the price of transportation, fuel, import duties, etc.

 A similar thing happens in various financial markets including the forex market. In the forex market, the traders buy currencies in one market and sell it at a higher price in another market. 

Shortcoming Of Using The Arbitrage Strategies

1. Is Not Foolproof To Risks

The arbitrage has a few risks too and if you are thinking of using this strategy, then you should also the risks involved in it.

About arbitrage, it is said that the risk is not very high, and it has also been termed as a risk-less way to earn profits. This is partially true because sometimes you can also suffer a big loss.

2. The Profits Are Not Sufficient

The profits that you earn with the arbitrage forex are not going to be sufficient to make your graph of growth go high. For the reason that forex market is highly liquid, the opportunities for arbitrage are very less, and when they happen, the return from it is also not so great. To utilize this strategy well, a trader will have to hold large position sizes.



Link Between Psychology And Forex Trading

Whether it is forex trading or any other profession, psychology impacts the performance to a large extent. Basics are indeed important, but it is possible to get acquainted with them with time and experience. After gaining experience, the skill level of an already successful trader and an aspiring trader will be the same. What makes them different is the confidence, a stable mindset, and the ability to trade without fear.

Psychology plays the most prominent role in the growth of a forex trader. If you are new at forex trading and are taking this profession seriously, we recommend you to read this article till the end. You will here learn about the most important things that will help you have a strong character.

1. Never Have Questions Regarding Your Performance

As a trader, it is important to feel confident about the strategies that you have implied. Many new traders are not able to feel strong about what they have decided. The reason for this is the habit of often checking the live trades. Checking live trades frequently often leads to anxiety. The trader sees how volatile the foreign exchange market is and the fluctuations make him or her fickle-minded. The best way to conquer this psychological effect is to prepare a strong strategy before opening trade. The successful traders often take their time before using a strategy. They do their research on the market trends, and that is how they can confidently start the trade. Because of such practical work, live trades do not affect their psychology.

2. Always Build Your Strategies

Every trader develops a different style of working as they progress in their journey of forex trading. Thus it is also important that they should have few strategies that are made by them itself. Such strategies allow a trader to feel more confident.

You will notice that every successful trader has some strategies, which they have obtained because of their good and bad experiences of forex trading. These strategies are fit for their unique trading style. The same strategy will not be equally good for any other trader, as they also have developed their trading styles. Having personal strategies also boosts your confidence in trading. With a personal strategy, you would have complete control over your trade from opening till the end. And if a trader is confident, the chance of converting a losing position can increase by a lot.

3. Never Let Overconfidence Take You Down

In this entire post, you learned to have confidence while trading but make sure that you don’t start getting overconfident. Overconfidence has drowned the careers of many successful forex traders. It was mentioned earlier that one should not be too tense about a trade, but that does not imply that you start taking it casually. Even if you are using a personally developed strategy, you need to be cautious. You must understand that there is a thin line between being cautious and being scared. If you start thinking that a strategy will always work, you will have to suffer a major loss at some point in time. This loss can be so big that it may take a lot of time to recover it.

4. Always Consult Your Mentor 

Whether you are new to trading or have been a successful trader for years, you must have a mentor to guide you. Even the mentors of forex trading like Hafizzat Rusli also have mentors to guide them in their trades. No matter how far you have come in your career, you can always use some help, and that gives you a lot of confidence boost.

When you chose the right mentor, from that very moment you start having positive psychology. With your mentor, you can discuss the way you want to trade. He or she will guide you about the changes that you should be making and how.  Just make sure, the mentor you are listening to is a genuine one. The suggestions from a fake mentor may even backfire at you.

Forex trading can be a great profession for the ambitious generation of the 21st century and this depends on how well informed you are. So if you want to learn more about forex trade or even need help in choosing the right forex trading course click the link here.

Useful Tips For Advanced Level Forex Traders

If you have tried forex trading professionally you must have figured that there is always something new to learn in this profession. The learning process never stops here and if you want your success to get bigger, you will have to learn new things in the game. This post is for the traders who have started trading, have had their good and bad experiences, and are still standing strong to make their dreams come true. Here are a few tips that should help the advanced level forex traders to polish their skills.

1. Make Use of the Demo Account More Often

This is a tip that should be used by both the beginners and top traders. If you are somewhere in between them both, then it becomes more essential for you to use the demo account. When you have just begun the learning process, at that time you simply use the demo account to learn the basics and when you are at the top level then you just try to come up with a new strategy and try it on the demo account. Though when you are at an intermediate level then is the time when you should use it more often than both the ranks.

This is the time when you have learned the basics and should use them to develop your strategies. When you come up with your strategy at this level you will be surprised to see how much more refinement it requires. And thus using a demo account more often will not just improve your strategy but also make you more acquainted to the patterns of currency fluctuations in the market.

2. Start Trading With Bigger Investments

To make it big you will have to trade with a bigger investment. The risk involved here is more but the profit is also a lot more than what you would earn as a beginner. When you observe that you are faster at understanding the market, the patterns of currency fluctuations, and getting better all the other essential things for winning the trade, you can assume that you have leveled up and now is the time to start investing bigger amounts.

With this growth, you will also have to be more calculative and cautious. Now you cannot rely on the strategies that are available in the books and the internet. Rather you will have to formulate your strategies, try them on demo accounts and finally give a shot to it.

3. Decrease the Number of Trades

People new at forex trading open trades with small amounts but the number of trades that they participate in are quite a lot than the experienced traders. When you grow up in terms of skill and experience, then you have change this and trade less but invest more. The money you will spend now will be almost the same as when you used to in the beginning, but you will have the focus on lesser trades and thus will be able to take forward with more efficiency. In a nutshell, you will be able to earn more with the lesser time consumed.

4.  Start Learning from a Mentor For Sure

Having a mentor is essential for all the traders, no matter at what level they are but when a person is new, he or she mostly thinks that they are just trying this field and can make things happen with knowledge on the internet and in the books. Though when you are growing and risking bigger investments, you will surely need guidance. The times when you fail and lose a big amount of money, having a mentor will make it easier to find the flaws in the strategy. If you do not have a mentor, especially in a situation of loss because of which you are feeling devastated, finding the mistakes becomes very tough.

To improve your skillset as a forex trader, using these tips will boost your confidence to a greater level. Join a forex trading course under a good mentor like Hafizzat Rusli to see faster results. You must have heard Hafizzat’s name in headlines like Hafizzat Rusli tipu, but instead of believing them, click the link here and get to know the real truth behind him.

Forex Market Related Jargon That Every Trader Should Know

Every professional field has its own terminologies and these are termed as jargons. The same goes for the Forex market, and if you are willing to be a trader in this market, then the first step is to be acquainted with the terms used here. In the forex market, you will find some terms that sound similar to the ones in the other financial markets but have a different meaning. While some of the terms are used just in the forex market. Read till the because these terms will also help you understand the forex market-related information.

1. Counter and Base Currencies

It is possible to sell your security in the bond and stock markets.

In simple terms, it would mean that you can liquify your security (convert the security into cash). Though it can be confusing as in the forex market a trader is already selling and buying currencies or money. This can be clarified with this statement that in the forex market one currency is simply being exchanged for another. The purchase and sale of the currency run parallel to each other. It is thus that you will see the quoted price of currencies always in a pair. The price in pairs signifies the amount of first currency that the trader will have to pay for the second currency in the pair. The right forex trade term for the first currency is the base currency. Remember that the price will always be quoted in terms of the base currency. The pair’s second currency is termed as the counter currency.

2. Short and Long Positions

The terms short and long positions are present in the forex market as well as the stock and bond markets, but in the market of our concern right now, the term makes a completely different sense. Since in the forex market, the traders do the transaction on pairs of currencies, short and long positions have a different meaning.

In the currency exchange market, if you are going long, it would mean that the base currency’s units will be purchased while of the counter currency, the units will be sold. If you say that you are going longer it would mean that you already hold the position of going long and still are continuing that.

Understand this with the following example.

Base currency: USD

Counter currency: EUR

Pair will be USD/EUR. You will purchase the USD and sell EUR

Going short would be exactly the opposite of going long. In this case, you are selling the base currency (USD) and buying the counter currency (EUR). If you get back to a zero or neutral position, the term for it would be squaring off. To square off from a long position you will sell and buy to square off from a short position.

3. Bid Price, Ask Price, and Bid-Ask Spread

The operators of the forex market are the market makers. A two-way market at all times, and for all currencies, is provided by them. Also, the sell and buy quotes are provided in the market by them. Their way of earning a profit is to be able to sell at a higher price than for what they made the purchase.

The bid price is the price at which the market makers want to buy and the ask price is the price which they quote for selling. The bid-asks spread more commonly known as the spread is the difference between the bid prices and ask price.

4. Lots

A lot is a term that is related to future contracts. The size of future contracts in the forex market is always fixed. Let’s estimate that for a multiple of $5000 you can purchase a contract and that is one lot. Buying 5 lots would mean $ 25000.

Joining a trading course will be helpful in getting more acquainted with similar terms and forex trade-related strategies. Though before joining a forex trading course you should make sure the money you are investing does not go waste. You can have a look at the forex trade courses by Hafizzat Rusli. To know how he has helped various of his students around the globe, go through the testimonials on the website of Hafizzat Rusli. To know more click here.

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