It's possible to trade profitably on the Forex, the nearly $2 trillion worldwide currency exchange market. But the odds are against you, even more so if you don't prepare and plan your trades. According to a 2014 Bloomberg report, several analyses of retail Forex trading, including one by the National Futures Association (NFA), the industry's regulatory body, concluded that more than two out of three Forex traders lose money. This suggests that self-education and caution are recommended. Here are some approaches that may improve your odds of taking a profit. Prepare Before You Begin Trading Because the Forex market is highly leveraged -- as much as 50 to 1 -- it can have the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you. A better way of entering the Forex market is to carefully prepare. Beginning with a practice account is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books, among them Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination, by Michael R. Rosenberg is short, not too sweet and highly admired introduction to the Forex market. Forex Strategies: Best Forex Strategies for High Profits and Reduced Risk, by Matthew Maybury is an excellent introduction to Forex trading. The Little Book of Currency Trading: How to Make Big Profits in the World of Forex, by Kathy Lien is another concise introduction that has stood the test of time. All three are available on Amazon. Rosenberg's book, unfortunately, is pricey, but it's widely available in public libraries. "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude," by Mark Douglas is another good book that's available on Amazon, and, again, somewhat pricey, although the Kindle edition is not. Use the information gained from your reading to plan your trades before plunging in. The more you change your plan, the more you end up in trouble and the less likely that elusive forex profit will end up in your pocket. Diversify and Limit Your Risks Two strategies that belong in every trader's arsenal are: Diversification: Traders who execute many small traders, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea. Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses. Be Patient Forex traders, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk using appropriate risk reduction strategies. In "On Any Given Sunday," Al Pacino reminds us that "football is a game of inches." That's a winning attitude in the Forex market as well. Remember that you are going to win some trades and lose others. Take satisfaction in the accumulation of a few more wins than losses. Over time, that could make you rich!

Fantastic DIY Unique Boot­iful Baby Mobile Ideas

Fantastic DIY Unique Boot­iful Baby Mobile Ideas

This whimsical DIY Unique Boot­iful Baby Mobile is easily crafted from inexpensive materials for a fun unique baby gift.


  •  Premium Metallic Original Chrome
  •  H2O Latex White Primer & H2O Latex Arctic White & H2O   Latex Blue Danube
  •   Acrylic Crystal Clear 
  •  2 Wood Coat Hangers
  •  2 yds  1/8 White Satin Ribbon 
  •  4 Baby Shoes 
  •  4 Eye Hooks 
  •  Newspaper 
  •  Scissors 
  •  Drill and drill bits 
  •  Tack cloth 
  •  Sandpaper 
  •  Screwdriver 
  •  Screws of various lengths


1. Place hangers and baby shoes on newspaper to protect your work area.

2. Spray baby shoes with several coats of White Primer. Let dry completely.

3. Unscrew wire hook from top of one wooden hanger. Choose drill bit same size as current hole and drill the rest of the way through the bottom of wooden hanger. Drill into bottom of the other wooden hanger. Wipe dust from both hangers with tack cloth.

4. Position hangers as shown in photo. Hanger with wire hook should be on top, and hanger without hook should be positioned perpendicular underneath the first hanger. 
Use screwdriver to attach the two hangers together with a screw that is long enough to go completely through the bottom hanger and attach into the top hanger.

5. Attach each of the four eye hooks to the bottom ends of each hanger (refer to photo for placement)

6. Spray assembled mobile with several coats of Original Chrome. Let dry completely.

7. Spray baby shoes with several coats of Blue Danube. Let dry completely.

8. Cut ribbon into 4 equal lengths. Lace through baby shoes and tie ends into a bow. Loop onto eye hooks as shown in photo.

Source: krylon


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