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 Ideas For Mom And Dad

Christmas Gift Ideas For Mom And Dad. Well, Mom and Dad can be tough adults being able to handle almost everything in the world but no parents are unmoved by the sweet thought of their children giving them a surprise present when they least expect it. Make these DIY gifts to give Mom and Dad for Christmas or birthdays, handmade crafts for parents.

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Funny Father's Day 11oz 15oz Coffee Mugs - Dad Nutritional ... (Mable Watson)
Okay, maybe not, but it will help you decide on a gift, else suffer the wrath of bitter Now is your time to shine and get your mom and dad a gift you will most likely have to teach them how to use. There are plenty of Christmas gifts for Moms that she will truly appreciate when she receives them from you. From sweet stocking stuffer Christmas gift ideas for Mom to affordable presents, to more significant, special items she'll fa-la-la-love, we guarantee there's at least one thing here you'll love to wrap up for her.

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Awesome DIY Gift Ideas Mom and Dad Will Love - DIY Joy

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Finding a special Christmas gift that's worthy of your mom can be one of the trickiest to-dos of the holiday season. What do you possibly get the woman who's loved and supported you since day one? These cool gift ideas are thoughtful, practical and Scoring cool gifts for dad this holiday season can be a serious struggle, but thankfully, we put in the Investing in a double pack should keep both Mom and Dad reminded of their belongings' location.

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