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!

TROPICAL WHITE WINE SANGRIA

Tropical White Wine Sangria combines sweet white wine with tropical fruits and fruit juices! Perfect sangria recipe for summer – it’s like a mini vacation in a glass!

Let’s get right down to business. This tropical SANGRIA recipe! If there’s one thing you should know about me (and probably do by now), it’s that I love a good sangria. Especially in summer! There’s just something about it – the sweetness, the fresh fruit, the endless possibilities…..yes, sangria and I are good friends.

I’ve made plenty of pitchers of it over the years, and of course I have my favorites. Like my Citrus Sangria, my Plum Sangria, my Lemon Blackberry Sangria, and most definitely my Strawberry Shortcake Sangria.  And, of course, you can never go wrong with Classic Red Sangria, amiright? But this Tropical White Wine Sangria. It’s the BEST! A game changer, you guys!

It’s the only sangria I’ve made that literally transports you. Takes you away. Makes you feel like you’re somewhere else….somewhere warm….somewhere TROPICAL! Which means it perfect, not just for summer, but for all year round. Because we could all use a little more of the tropics in our lives, don’t you think?

Fresh Tropical Sangria Ingredients

This tropical sangria recipe starts with sweet white wine and then we add:
  • Malibu rum
  • orange juice
  • pineapple juice
  • ALL of the tropical fruits
This easy summer sangria takes just 5 minutes to make, gets better with time, and is definitely a “love at first sip” kind of drink. Best of all, it’s SO easy! Perfect for summer parties, cookouts, or drinks with friends on the patio. A vacation in a glass, if you will. (And I really hope you will!) Cheers!
Serving Suggestion:
Serve the tropical sangria up with some tropical foods like coconut shrimp with mango dipping sauce, or maybe some chips and fresh tropical fruit salsa.

glasses of tropical sangria

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Tropical Sangria

This Tropical Sangria combines sweet white wine with all things tropical! Perfect for summer - it's like a mini vacation right in your own backyard!
 Prep Time 10 minutes
 Total Time 10 minutes
 Servings 4
 Author Cathy Trochelman

Ingredients

  • 1 bottle sweet white wine*
  • 1 c. Malibu rum
  • 6 oz. 3/4 c. or 1 small can pineapple juice
  • 1/2 c. orange juice
  • Fresh pineapple oranges, strawberries, and kiwi, sliced
  • *I use Barefoot Moscato Spritzer OR Barefoot Crisp White Spritzer depending on desired sweetness. You can also make it sweeter by using any white wine and adding simple syrup.
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Instructions

  1. Combine all ingredients in a large pitcher and chill until ready to serve.
  2. *The more fruit, the better!


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