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!

Christmas Gift For Daughters Boyfriends Parents

Christmas Gift For Daughters Boyfriends Parents. Show your daughter, granddaughter or niece that she's truly loved with a special Christmas gift created just for her. You can get a good gift for your boyfriend which has Christmas music on iTunes.

Beautiful Diy Christmas Gifts For Boyfriend Will Love (17 ...
Beautiful Diy Christmas Gifts For Boyfriend Will Love (17 ... (Adam Dean)
Daughters are true blessings that fill their parents' hearts with joy and love from the day they come into this world. Find the perfect gift for your daughter - every time. Girls love to show off their gifts to their friends Therefore, parents need to be careful to find a gift, which their daughter can proudly flaunt in front of her friends.

We may earn commission from links on this page.

You can get a good gift for your boyfriend which has Christmas music on iTunes.

Gift for boyfriend's parents | Christmas | Pinterest

I made this Christmas present for my boyfriend! It was a ...

20+ Amazing DIY Gifts for Boyfriends That are Sure to ...

Gift for Dad from Daughter Gift for Dad Christmas Gift for

15 Gifting Ideas for Mothers Day that burst with Love ...

Top 40 Homemade Christmas Gifts For Your Boyfriend ...

Daughter Personalized Poem Birthday Present or Christmas ...

ELOI Gifts for Daughter, Daddy's Girl Mommy's World Mother ...

Unique Boyfriend Christmas Gifts

Our Christmas Gifts for Daughters will inspire you to treat her to special personalised gift. Buy gifts online for daughter - Order unique gifts for daughter from a unique variety of cute gifts. Christmas Gift for Parents, Gifts for In Laws, Meaningful gifts for Mom and Dad from children, Personalized Gifts, Holiday Gifts for Parents.

BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER