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!

VANILLA GREEN TEA SMOOTHIE

This Vanilla Green Tea Smoothie combines the classic flavors of green tea and vanilla in a rich, creamy smoothie that’s both healthy and delicious! Perfect for breakfast or an afternoon pick me up!

So. I’ve been trying to do more for myself lately. Which, as any mom knows, isn’t nearly as easy as it looks. Between taking care of kids and cooking and cleaning and working and keeping a household running….by the end of the day, all I can really think about is crashing on the couch. The thought of having a friend over or….gasp….going out? It’s pretty much the last thing on my mind.

But. When I do muster up the energy to make it happen, well, it always feels worth it. Because getting out of the house and spending time with friends and feeling like a normal adult feels good! Even if it does require showering and getting dressed and foregoing my couch time for the night.

I’ve done it a few times recently, and I have to say I think I’m getting better at it. I’m better about how I structure my day, what I eat for the right kind of energy (like this Vanilla Green Tea Smoothie), and how I get ready for a different kind of night. Including using Rohto Dry-Aid eye drops after my shower. Because if there’s one thing that’s true about me, it’s that dry eyes are always an issue. And there’s nothing worse than getting all ready, and putting on makeup, and going out for a fun night…..only to have red, itchy, irritated eyes! (AmIright?)

I recently discovered Rohto Dry-Aid and found out it’s the #1 global eye care brand clinically shown to provide longer lasting dry eye relief versus the leading over-the-counter brand. Rohto Dry-Aid helps restore the natural tear film to provide soothing relief for up to 12 hours, and is designed to address the five key symptoms of dry eye: dryness, irritation, grittiness, burning and stinging. I’ve found it to be greatly effective in eliminating my dry eye symptoms and making my nights out SO much more fun!

Which got me thinking: I wonder if there are other things I could do to help reduce my symptoms. So I started researching, and do you know what I found? Drinking green tea can actually help reduce the symptoms of dry eyes, too! And, when you mix it right into this delicious Vanilla Green Tea smoothie, it’s actually enjoyable. I love the combination of vanilla and green tea, and this Vanilla Green Tea Smoothie is smooth, creamy, and just sweet enough to be perfect for breakfast or an afternoon snack. And when you combine it with Rohto Dry-Aid, I feel like dry eye issues are a thing of the past. Interested in trying Rohto Dry-Aid for yourself? It’s currently available at major retail locations where over-the-counter dry eye drops are sold, and also online at the Rohto website.

Vanilla Green Tea Smoothie

This Vanilla Green Tea Smoothie combines the classic flavors of green tea and vanilla in a rich, creamy smoothie that's both healthy and delicious! Perfect for breakfast or an afternoon pick me up!
 Prep Time 5 minutes
 Total Time 5 minutes
 Servings 2
 Author Cathy Trochelman

Ingredients

  • 1 c. vanilla Greek yogurt
  • 1/2 c. vanilla almond milk
  • 1 frozen banana
  • 1 Tbsp. honey
  • 2 tsp. matcha powder
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Instructions

  1. Combine all ingredients in a blender; mix until smooth.

This is a sponsored conversation written by me on behalf of Rohto. The opinions and text are all mine.

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