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 KETO CHEESECAKE – QUICK, NO CRUST
This cheesecake has been made without Erythritol. I am kind of intolerant to it and did not feel like taking a risk.That been said, you can definitely go ahead and use your sweetener of choice, whether it is Monk Fruit Extract or Erythritol. You are just going to have to adjust the quantities to make sure that your cheesecake is sweet enough.
You can now make any type of cheesecake you want.
Keep in mind that if you add more dry ingredients, like cocoa powder, you’re going to have to use a larger quantity of whipped cream.
No Bake Keto Cheesecake RecipeEasy and quick no bake keto cheesecake !!
Ingredients- 1 Cup Heavy Whipping Cream
- 3 Tsp Stevia Extract
- 1 Lemon Zested and juiced
- 250 g cream cheese at room temp
Strawberry Jam- 1/2 Tsp Stevia Extract
- 1 Cup Frozen Strawberries You can use any frozen berries you like.
InstructionsFor the strawberry jam- In a nonstick sauce pan, cook your strawberries and stevia until you get a thick consistency (jam like). This should take 5-8 minutes.
- Set it aside and let it completely cool down.
For the cheesecake- Using a hand mixer, mix your cream cheese, 2 tbsp of lemon juice, lemon zest and stevia (or sweetener of choice) until you get a creamy consistency.
- (You can use an electric hand mixer) In a separate bowl, start whisking your whipping cream until it get thick and firm. Don't over whip it, the cream should be just thick enough that it stays on your whisk once you lift it. If you over whip it, add a little splash of heavy cream on mix it gently.
- Add half of your whipped cream to your cream cheese filling and fold it in. Now add the other half, this time mix it in gently to make sure that your creamy filling remains light.
- Take 4 ramekins (tea cups, or espresso cups would work too), and place your cheesecake filling. Using the back of the spoon, spread it evenly and make sure the top is somewhat flat. Cover your ramekins and let them chill in the fridge for at least 30 minutes, ideally 1 hour.
- Take out of the fridge and scoop 1 tbsp of your berry jam and place it on top of your cheesecake.
- Serve and enjoy.
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