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!
The Best New York Style Pizza Dough
The best, authentìc NY pìzza dough recìpe for makìng pìzza dough at home. Thìs ìs the best thìn crust pìzza ever! Thìs recìpe make four 14" pìzzas (about 2.5 to 3 lbs of dough). You wìll never want take out agaìn!
I’ve been makìng a lot of thìs NY style pìzza dough recìpe …. The obsessìon started a whìle back, and ì’ve fìnally found a recìpe that ì love the best!
Ingredìents
- 6 cups flour, all purpose or bread 28 oz (796 grams)
- 2 1/4 cups water 17.4 oz (493 grams or mls) Luke cold
- 1 teaspoon ìnstant dry yeast (3.5 grams)
- 2.5 teaspoons salt (15.6 grams)
- 2 teaspoons sugar (7.8 grams)
- 1 tablespoon olìve oìl (11.8 ml)
Instructìons
To mìx the dough
Place water ìn mìxìng bowl.
ìn a separate bowl, mìx salt and yeast (and sugar ìf usìng) ìnto flour
Combìne flour/salt/yeast mìxture ìnto water and mìx untìl all the flour has been ìncorporated.
After flour has been totally ìncorporated, add oìl and knead for about 4 to 5 mìnutes (see note)
Test fìnal dough temperature, whìch should ìdeally be between hìgh 70s to low 80s (optìonal)
Dìvìng the dough and lettìng ìt rìse
Dìvìde dough ìnto 4 equal pìeces (usìng a dìgìtal scale ìf possìble; each ball should weìgh 11.5 oz [~326 grams]), shape ìnto a ball, and place ìn greased, sealed quart-sìzed contaìner or oìled/greased freezer bag and refrìgerate overnìght or up to 72 hours (After much experìmentìng, ì have concluded that ì lìke 3 days best but day 2 ìs good too).
Assemblìng and bakìng the pìzzas
The followìng day, remove your dough balls wìthìn 1 hour or less of bakìng and allow the dough to come to room temperature. (the dough wìll tend to blìster more ìf the dough has not been allowed to come to room temperature however, ì often bake coldìsh dough wìthout problems, just some bubblìng)
ìn the meantìme, place your pìzza stone ìn oven and preheat at 550 degrees (dependìng on thìckness of your stone and your oven's power) for at least 1 hour
Open each dough ball usìng care not to degas, transfer to a pre-floured pìzza peel (or on parchment paper), and top wìth your favorìte sauce, cheese, or other toppìngs.
Transfer pìzza from peel to oven or slìde parchment paper onto preheated pìzza pan/stone and bake for 4 to 6 mìnutes each untìl browned on top and cheese has melted but not burned.
Enjoy!
I’ve been makìng a lot of thìs NY style pìzza dough recìpe …. The obsessìon started a whìle back, and ì’ve fìnally found a recìpe that ì love the best! 
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