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!
CELEBRATE EASTER: CREATIVE EASTER EGG DYING
CELEBRATE EASTER: CREATIVE EASTER EGG DYING
There are so many cool and creative Easter egg dying techniques. You don’t need to buy a kit at the store. That really limits your creativity. Instead, try this tissue paper dyed Easter egg method. The colors come out vibrant and it’s a great method for kids to try.
YIELD: 12 TISSUE PAPER DYED EGGS
CREATIVE EASTER EGG DYING WITH TISSUE PAPER - GREAT FOR KIDS!
No Ratings
This creative Easter egg dying technique uses tissue paper to create beautiful color!
ACTIVE TIME 10 minutes
ADDITIONAL TIME 10 minutes
TOTAL TIME 20 minutes
DIFFICULTY Easy
MATERIALS
- Hardboiled Eggs
- Bleeding Tissue Paper (Has to say bleeding for it to work)
- Spray Bottle of Water
- Paper Towels/Newspaper
- Optional: Latex/Plastic Gloves
INSTRUCTIONS
- Cut tissue paper into small pieces. They don’t have to be perfect, we made some rectangle, square, and triangle.
- Place the hardboiled eggs on layers of paper towels or newspaper. Spray the eggs with water and place pieces of tissue paper all over it. Mix and match colors to give it a super fun look. (Use gloves at this point if you do not want any coloring on your hands because it will transfer off the tissue paper. We did not use gloves and the coloring was off our hands by the next day.
- Once the paper is placed on the egg, spray the egg again with water making sure all the tissue paper is laying down. Let dry.
- Once the tissue paper is dried, peel off the egg and discard. You’ll be left with a gorgeous looking Easter Egg!!
- Store in refrigerator if you plan on eating them.
© Kimberly Stroh
PROJECT TYPE: Kid's Craft / CATEGORY: Family Life
0 Response to "CELEBRATE EASTER: CREATIVE EASTER EGG DYING"
Posting Komentar