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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!

Malibu Sunset

Malibu Sunset

Malibu Sunset: a fun, fruity, easy Malibu drink recipe! Because there’s really no wrong way to do pineapple, orange juice, coconut rum, grenadine, and cherries. If you’ve never had this fruity alcoholic drink, you should change that.
A Malibu Drink Tastes Like an Island Getaway

Living in San Diego, I’m normally just a couple hours from Malibu. But right now, I’m a world apart in Aruba. And Malibu never tasted so good.

If you’ve never had this fruity Malibu drink, you really should change that. Someone will say they don’t like coconut, but I don’t think it tastes ridiculously coconutty. Coconut Malibu tastes what a tropical vacation should taste like.

Technically this fruity drink has a splash of cranberry, but I didn’t have any and wasn’t going to buy any for a splash. Just use more grenadine. Scratch that. More Malibu.
Home away from Home
This is Palm Beach, Aruba. My most favorite place on earth. This little slice of beach is where I go to mentally when the going gets tough in life. It’s my happy place, and just thinking about it, gets me through hard times. It’s where I’m the most calm and relaxed, ever. I love it here.

Cool Malibu Rum Drinks for Hot Summer Days
Holy moly these things go down way too easily in the heat and humidity. This Malibu drink is fruity and sweet without being over-the-top like some fruity alcoholic drinks can be, and it’s so refreshing. I love pineapple juice and it’s a perfect pairing with coconut rum.

Nothing calms me down and puts a smile on my face like being on Palm Beach, Aruba with one of these yummy fruity drinks. Cheers!
Malibu Sunset

YIELD: 1 DRINK
TOTAL TIME:2 MINUTES
PREP TIME:2 MINUTES
COOK TIME:0 MINUTES

This is like drinking a tropical vacation. Fruity and sweet (but not too sweet), and perfectly refreshing. They go down way too fast and very easily. Cheers!

INGREDIENTS:
  • ice cubes
  • 3 to 4 ounces pineapple-orange juice (I use a blend rather than purchasing separate juices)
  • 2 ounces Malibu Coconut Rum
  • grenadine, drizzled
  • maraschino cherries, for garnishing
  • pineapple and/or orange slices, for garnishing
DIRECTIONS:
  1. Add ice to glass.
  2. Add juice, Malibu, and stir.
  3. Drizzle in grenadine.
  4. Garnish with cherries, pineapple, and/or orange slices.
  5. Serve immediately. Drink is intended for those whom alcohol consumption is appropriate. Always drink responsibly.
NUTRITION INFORMATION
Nutrition analysis
Calories 206, 
Total Fat 0g, 
Saturated Fat 0g, 
Trans Fat 0g, 
Total Carbohydrates 37 g, 
Fiber 2 g, 
Sugar 32 g, 
Protein 1 g, 
Sodium 6 mg

Recipe from Averie Cooks. All images and content are copyright protected. Please do not use my images without prior permission. If you want to republish this recipe, please re-write the recipe in your own words, or simply link back to this post for the recipe. Thank you.

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