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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!

5 Tips to Save Money on Summer Travel

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How not to overpay for your vacation.

The urge to travel is always stronger in the summer months. From Memorial Day through Labor Day, AAA estimates that about 35 percent of Americans will pack up on for a summer trip.

But travelers trying to stretch their budget as far as possible in the warmer months should know a few tricks and tips before booking their getaways.

Be flexible
The best way to save money is to have a bit of leeway with dates. If you can swing it, leaving a day or two earlier or later could save travelers hundreds of dollars in airfare. And avoiding peak travel is always smart: Prices for travel jump on weekends — especially long weekends. Consider traveling on a Tuesday or Wednesday to nab the cheapest airfare of the week. Waiting until the end of the summer can also yield big savings. Travel prices tend to go down after mid-August when kids start to go back to school.

Know your apps
Travel + Leisure's list of the 50 best travel apps for 2017 include many that will save you money. Dealray is great for cheap flights, AirHelp can get you compensiation for delays and cancelations, AutoSlash will help you make sure you're getting the best car rental rate, Roomer will help you find discount hotel rooms — check out the full list.

Be skeptical
Compare prices on bundled vacations to what it would cost to purchase airfare, hotel nights and rental cars separately. That way you'll definitely know which is the better deal. And the same goes for booking engines — it never hurts to compare prices.

According to a study from Frommer’s, Skyscanner and Momondo are the best for grabbing low airfare, but it will only take a few minutes to check Google Flights, Skyscanner, and the airline's website, too.

Comparing prices is even more important for hotels, with prices varying across websites and also devices. Frommer’s found that Booking.com found the cheapest rates.

Stay somewhere new
Consider all your options when looking for the cheapest place to stay in town. Travelers who have already decided on a destination can check not just hotels, but also Airbnb and other homesharing sites and even hostels to see if there’s a great deal available.

Book early
Book end of summer travel as early in the season as you can. Domestic airfare is generally at its cheapest about two months before the departure date — although this can fluctuate wildly so be sure to keep an eye out for a great deal. It's too late to follow this tip for most summer travel, but you can take the opportunity to plan ahead for the fall and winter. Now is the time to set an airfare price alert on Google Flights or Hopper for trips you want to take in the next year.

Are you ready frsome vacation this suummer ???

Article Source : 6 Tips to Save Money on Summer Travel @ travelandleisure

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