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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!

Pineapple Mango Rum Punch

Pineapple Mango Rum Punch
A week from tomorrow, Jeff and I are headed out on an eight-day cruise! I’m so excited to get away for a week and just relax without being so tied to my computer (although I’m totally bringing it – I’m not that crazy).
And to kick off our upcoming vacation and celebrate the fact that tomorrow is World Cocktail Day (!!!), I partnered with Carnival Cruise Lines to share a cocktail recipe inspired by our upcoming travels. It’s a pineapple mango rum punch and it’s kind of my new favorite cocktail. So good! Click through for the recipe and a few deets on our upcoming trip.
We’re headed to the Southern Caribbean with Carnival on the 20th and this rum punch seemed pretty appropriate for the occasion. Maybe they’ll have something like this on the Carnival Vista? Or at one of the beaches we’re headed to….
We’re hitting up Aruba, Dominican Republic, Curacao, and Turks & Caicos on this trip and I cannot wait. Super pumped about Curacao and Aruba especially. I swear, no matter how many times I go to the Caribbean, I always feel like I could go again. I really do love tropical vacations more than any other.
That said, I recognize that not everyone is about to head out on a tropical vacation. BUT you can at least feel like you are with this rum punch recipe. It’s a little bit sweet, but not too sweet. And super fresh tasting too – like it is straight out of a Caribbean pressed juice bar, that has been known to spike a drink or two. Now, that’s a place I want to visit. 
Here’s the recipe for pineapple mango rum punch…
Ingredients for Pineapple Mango Rum Punch (servings 1 cocktail)
  • 3 oz of pineapple coconut juice
  • 3 oz of coconut rum (you can also use light or dark rum here instead)
  • 1 oz of mango juice
  • 1 oz of orange juice
  • splash of grenadine (mainly just for looks)
  • lime slices and/or orange zest for garnish
  • edible flowers for garnish
Note for making larger batches: 
If making a punch, rather than a single drink, treat the ounce numbers above as parts instead. So, for example, if you’re making a large batch of pineapple mango rum punch, you’d use 3 parts pineapple coconut juice, 3 parts coconut rum, 1 part mango juice, and 1 part orange juice.

How to Make Pineapple Mango Rum Punch
Combine all juices (pineapple coconut, mango, and orange) and rum. Then stir. Pour over ice and add a splash of grenadine for color. The grenadine will fall to the bottom and give the drink a pretty ombre look. Then, add lime, orange zest, and edible flowers for garnish.

I’ve been to the Caribbean a few times, like I mentioned, and every time I’ve visited, there are always, ALWAYS a few rum drinks on hand. They’re pretty much everywhere! So, I’m hoping that this recipe will give you all of the tropical vibes today.
And if you’re in the mood for a little more than a tropical drink, head over to Carnival.com to check out cruise destinations near you and plan your next trip.



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