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!

Cake Recipes Blog

Cake Recipes Blog. A perfectly baked moist cake is one of life's simple pleasures. Caramel Mousse Filling for Cakes & Cupcakes.

Recipe: Lemon, Rosemary and Greek Yoghurt Bundt Cake ...
Recipe: Lemon, Rosemary and Greek Yoghurt Bundt Cake ... (Earl Franklin)
If a cake still tastes good then often it does not matter what it looks like. If you're reading this right now, you probably don't. A perfectly baked moist cake is one of life's simple pleasures.

The Cake Blog is a community of bakers and cake lovers.

I'm so excited to share this pink guava cake from my wonderful blog pal Alana's book Aloha Kitchen.

11 Best Baking Bloggers Who Prove That Desserts Are an Art

Chocolate Biscoff Fudge Cake recipe | The Little Blog Of Vegan

Chocolate Velvet Cake Recipe - Add a Pinch

Easy French Strawberry Cake - The Best Blog Recipes

Truffle Cake | A Serbian Chocolate Cake Recipe with ...

Coffee and Walnut Cake - Veganuary Recipe

Ultimate Biscoff cake recipe | The Little Blog Of Vegan

The OpĂ©ra cake – Road to Pastry

Almond Cake From Scratch - Goodie Godmother - A Recipe and ...

With their fluted design, Bundt cakes are elegant desserts that happen to be easy to make too. Articles about recipes/cake on Kitchn, a food community for home cooking, from recipes to cooking Cake In Recipes. The lively, familiar spices of classic..

BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER