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!


This easy Cookies and Cream OREO Cake is sure to delight the entire family! Extra delicious and wonderfully easy, this showstopper of a cake will be a welcome addition to any gathering!
  • 1 white cake mix (15 oz)
  • 3.4 oz white chocolate instant pudding mix
  • 1/3 cup vegetable oil
  • 1 1/4 cups almondmilk
  • 4 egg whites
  • 20 Oreos, roughly chopped (plus more for decoration if desired)
Chocolate Glaze
  • 3/4 cup semisweet chocolate chips
  • 3 tbsp butter
  • 1 tbsp light corn syrup
  • 1/2 tsp vanilla extract
  • White Chocolate Glaze
  • 1 cup white chocolate chip
  • 1 tsp coconut oil
  1. Preheat oven to 350F. Spray a 12-cup bundt pan with nonstick cooking spray and set aside. (I used the cooking spray with flour for baking.)
  2. In a large bowl, combine cake mix, pudding mix, vegetable oil, almondmilk, and egg white. Mix on medium speed for 2 minutes until well combined.
  3. Stir in crushed Oreos just until incorporated.
  4. Spoon batter into prepared bundt pan and baking according to box mix instructions, about 45 to 50 minutes, or until an insert toothpick comes out clean.
  5. Let cool in the bundt pan for 30 minutes before inverting onto a cooling rack to cool completely.
  6. Chocolate Glaze
  7. Combine butter, chocolate chips, and corn syrup in a microwave safe bowl.
  8. Heat in the microwave in 30 seconds intervals at 50% power, stirring in between, until nicely melted. Stir in vanilla extract.
  9. Drizzle over the top of the cooled cake. Let the chocolate glaze set up for 10 minutes before moving onto the white chocolate glaze.
  10. White Chocolate Glaze
  11. Combine white chocolate chips and coconut oil in a small microwave safe bowl.
  12. Heat in the microwave in 30 seconds intervals at 50% power, stirring in between, until nicely melted. 
  13. Drizzle over the top of the cake.
  14. Add additional Oreos to the top of the cake if desired. Let glazes set up completely before slicing and serving.


Halaman Berikutnya

Subscribe to receive free email updates:


Post a Comment