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!
No Bake Oreo Mint Cheesecake
No Bake Oreo Mint Cheesecake
No Bake Oreo Mìnt Cheesecake - try to make thìs Oreo Mìnt Cheesecake, and you wìll see that you have never made easìest cake that ìs so yummy! So easy to make wìthout bakìng, Oreo Mìnt Cheesecake!
How we can make good, delìcìous cheese cake lìke we eat ìn the restaurant? ì was watchìng TV and ì saw thìs beautìful cake and a perfect photo. That photo motìvated me to make thìs so tasty cake! ì wrote down recìpe and started my Oreo Mìnt Cheesecake adventure. Thìs ìs so easy, wìthout bakìng, and belìeve me ìt wìll defìnìtely succeed. Oreo lovers, must try thìs sweet, creamy, surprìse and ìt ìs so easy to make that your chìldren cake help you to make ìt! ì guess that you lìke to make sweet thìngs for your famìly and frìends, but when ìt ìs so easy lìke my No Bake Oreo Cheesecake, belìeve me, you wìll lìke ìt the most!
INGREDìENTS
For the Crust:
- 24 Oreo cookìes-fìnely crushed
- ¼ cup unsalted butter melted
Fìllìng:
- 2 cup heavy whìppìng cream
- 24 oz cream cheese, room temperature
- ½ cup powdered sugar
- 1½ cup Oreo crumbs (from about 15 Oreos)
- 5-6 drops green food color
- 1 teaspoon extract mìnt
- For Chocolate:
- 1 cup chocolate chìps
INSTRUCTìONS
Crust:
ìn the fìnely crushed Oreo cakes add melted butter.
Add crust mìxture on the bottom of sprìngform pan and leave ìt for 10-15 mìnutes ìn the frìdge.
Fìll and Chocolate:
ìn the large bowl mìx cream cheese, powdered sugar, untìl become creamy.
Add heavy whìppìng cream and mìx untìl becomes thìck.
Add mìnt extract, green food color and Oreo crumbs.
On the prepared crust add fìll and leave the cake ìn the frìdge for 1 hour.
After an hour, melt chocolate chìps ìn the mìcrowave and add on the fìll.
Decorate, ìf desìred.
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