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!

Dessert Ideas Baking

Dessert Ideas Baking. Create delicious baked sweets in your own kitchen with our baking and dessert recipes and ideas, including copycat desserts, Southern recipes and more at Food.com. Bake a batch of chocolate cupcakes, find flour-free solutions, wow the internet with showstopping cakes (including vegan varieties), follow our step-by-step guide to the perfect.

How to Make Desserts Recipes at Home | find my recipes
How to Make Desserts Recipes at Home | find my recipes (Lena Holloway)
See more ideas about desserts, yummy food, cooking and baking. From new twists on old favorites to classic cookies to holiday pies, we've got delicious desserts for every occasion. These meals will make your weeknights way simpler.

From cakes to brownies to macarons, add these to your baking to-do list ASAP.

If you love to bake, then these recipes are for you.

Over 25 of The Best No-Bake Dessert Recipes - Cupcakes ...

Best Holiday Baking Recipes - Creative Holiday Dessert Ideas

15 No-Bake Dessert Recipes for a Cool Summer Kitchen ...

Fried Bananas Foster Recipe - No Bake Banana Desserts ...

Dessert Kebabs

75+ Easy No Bake Desserts - Recipes for Last Minute ...

No-Bake Pineapple Cream Dessert - The Midnight Baker

7 All-Time Best Easy, Healthy Dessert Recipes - Two ...

Delicious No-Bake Christmas Desserts - My Healthy Dessert

There's something so magical about spending the weekend indoors baking sweet treats — especially as the temperatures outside drop. Other tips for baking the perfect pie are cutting your fruits correctly (the flatter the better) and venting properly. These meals will make your weeknights way simpler.

BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER