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!
BEST MACARONI SALAD RECIPE
For this post recipe I prepared for you my favorite creamy cold macaroni pasta salad recipe. This macaroni pasta salad is perfect side dish or just main dish which can be eaten through the day like in my case 
My grandma used to make this salad for me for birthdays, some holidays and special occasions. I would eat only this salad the whole time. It is so delicious!
This creamy macaroni pasta salad consists of couple of vegetables like tomatoes, peppers, pickles, but you can add whichever vegetables you like. I added some Swiss ham, cheese, corn and everything was combined with tasty mayo and sour cream. I like to add lemon juice because I like when the food is little bit more sour. It is more fresh and easier to eat.
It can be eaten like a side dish or just alone. It is very fatty because of the mayo and the cream but unbelievable delicious! Perfect creamy cold pasta salad! You can use whichever pasta you like. Usually, people use traditional macaroni pasta, but this time I used macaroni pasta for a change. LOVE to experimenting with the food.
Full recipe just like step-by-step instructions how to make this creamy cold pasta salad are listed below!
INGREDIENTS FOR COLD PASTA SALAD
- 750g of macaroni pasta (I made 2 bowls of salad)
- 3 peppers
- 5 tomatoes
- 10 pickles
- 280g of corn
- 300g of ham
- 1 lemon
- 250ml of sour cream
- 365ml of mayo
- 300g of cheese
HOW TO MAKE COLD PASTA SALAD
- Cook 750g of macaroni pasta 7 minutes. The pasta should be cooked al dente. Not soft. Leave to cool down to the room temperature.
- Cut the yellow, red and green pepper in a small pieces.
- Cut the tomatoes in half and remove the seeds and the juice bacause the pasta can be too moist.
- Cut the tomatoes in a small pieces too.
- Take 10 pickles and cut them in a small pieces too.
- Open the ham and cut it into slices and than in a tiny long stripes.
- Put all the ingredients in a one bowl.
- Add in a bowl 280g of corn.
- Put the sour cream and mayo on all the ingredients.
- Add the lemon juice by your wish.
- Stir all the ingredients.
- Add the pasta and stir all together. Put in the fridge to cool down on one hour.
You will fall in love with this *Creamy Cold Pasta Salad* . You won't stop eating it! Pasta salad heaven!
Course: Main Course
Cuisine: European
Servings: 10 people
INGREDIENTS FOR COLD PASTA SALAD
- 750 g 750g of shell pasta (I made 2 bowls of salad) (I made 2 bowls of salad)
- 3 3 peppers
- 5 tomatoes
- 10 pickles
- 280 g of corn
- 300 g of ham
- 1 lemon
- 250 ml of sour cream
- 365 ml of mayo
- 300 g of cheese
Cook 750g of shell pasta 7 minutes. The pasta should be cooked al dente. Not soft. Leave to cool down to the room temperature
Cut the yellow, red and green pepper in a small pieces
Cut the tomatoes in half and remove the seeds and the juice bacause the pasta can be too moist. Cut the tomatoes in a small pieces too
Take 10 pickles and cut them in a small pieces too
Open the ham and cut it into slices and than in a tiny long stripes
Put all the ingredients in a one bowl
Add in a bowl 280g of corn
Put the sour cream and mayo on all the ingredients
Add the lemon juice by your wish
Add the pasta and stir all together. Put in the fridge to cool down on one hour
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