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!

Bathroom Upgrade Ideas

Bathroom Upgrade Ideas. These upgrades will require a small investment but you'll reap restful and stylish rewards. Paint your fixtures, add paneling to your tub (This is a good idea even if you're not planning on painting, because it'll make your tiles look good as new!) Spending a little more on bathroom upgrades can increase your home's resale value.

Top 55 Modern Bathroom Upgrade Ideas and Designs ...
Top 55 Modern Bathroom Upgrade Ideas and Designs ... (Lou Singleton)
Here are some of the smaller upgrades that you can make to help your bathroom become a place of relaxation. For a smart, modern bathroom upgrade with a total spa-like effect, you just have to consider a We hope you've enjoyed reading through all of these smart bathroom ideas and hopefully taken some. Whether you're making small upgrades, going for a full overhaul, or just daydreaming from your desk, a bathroom renovation.

Master bathrooms are one of the most desirable features for resale value.

Not only does it allow for floor-to-ceiling hanging storage, but it can be moved to accommodate changing needs.

Fancy bathroom upgrade | Cool Home Design Ideas ...

One lower-cost solution to old bathroom tiles: Blunt the ...

Before and After Bathroom Updates From Rate My Space | DIY

Two It Yourself: REVEAL: $100 Small Bathroom Makeover ...

Top 55 Modern Bathroom Upgrade Ideas and Designs ...

Bath Benches - Foter

545 best images about Bathroom Inspiration on Pinterest ...

Top 55 Modern Bathroom Upgrade Ideas and Designs ...

5 Easy DIY Bathroom Upgrades That Will Surprise You ...

Repeat after us: Bathrooms should be the most functional rooms in the home. Learn how to upgrade a bathroom with radiant-heat flooring or a roomy whirlpool tub. DIY Bathroom Towel Ladder: A towel ladder is more versatile than you'd think.

BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER