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!

Pineapple Margaritas

Pineapple Margaritas
These Pineapple Margaritas are a deliciously sweet, refreshing twist on the original! Made with just 4 simple ingredients and perfect for happy hour, weekends, and all summer long!
Happy Cinco de Mayo, friends! Are you celebrating!?!? We’re going to be celebrating by spending the weekend packing up our house for the big remodel that starts next week. And I have to say…..as excited as I am for it….there’s a huge part of me that’s wondering WHY we thought this was a good idea. HA! I guess it’s a little late for that.
You know how that is, though? When something is so far away that it’s easy to say yes to….and the, as the time comes closer and reality sinks in….it sounds less and less like something you actually want to do? I get that way a lot – with social plans, things I agree to help out with, and….apparently….remodels.
But alas, it’s happening. Because the cabinets have been built and the flooring has been ordered and the granite has been paid for. So all we’re really waiting on is….US! We need to pack up our living room, dining room, and kitchen. And when I say pack up, I mean pack it ALL up. Because at the end of all of this, those three rooms will all be one big space. And in the mean time, we’ll be living in a major construction zone.
So as much as I’d love to be celebrating with one (or three) of these Pineapple Margaritas tonight, I just don’t think that’s in the cards for me. But I hope you’ll have one for me! Because these Pineapple Margaritas are seriously ALL THAT. The perfect little sweet twist on a classic margarita. And best of all, they’re made with just 4 simple ingredients! And ready in no time at all. So you can get to celebrating right away!
Just promise me that while you’re enjoying Pineapple Margaritas, you think of me. Packing up my margarita glasses instead of drinking out of them. The good news, of course, is that this is a great “problem” to have. At the end of all the work, we’re going to have a brand new beautiful space we absolutely love! And I can guarantee I’ll make time for Pineapple Margaritas sometime soon. How could I not!?!? They’re DELICIOUS!
Pineapple Margaritas
These Pineapple Margaritas are a deliciously sweet, refreshing twist on the original! Made with just 4 simple ingredients and perfect for happy hour, weekends, and all summer long!
Prep Time 5 minutes
Total Time 5 minutes
Servings 1
Author Cathy Trochelman

Ingredients
  • 2 oz. tequila
  • 2 oz. pineapple juice
  • 1/2 - 1 oz. simple syrup according to taste
  • juice of 1 lime
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Instructions
  1. Use a lime wedge to wet the rim of a margarita glass; dip rim in coarse salt.
  2. Fill glass with crushed ice.
  3. Combine all ingredients in a cocktail shaker.
  4. Pour over crushed ice; garnish with lime wedge.

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