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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!

AVOCADO AND TOMATO SALAD

HEALTHY FOOD RECIPES

AVOCADO AND TOMATO SALAD

Fresh and bright, this Avocado and Tomato Salad is a perfect side dish alongside any Mexican themed meal. It’s also a great pot-luck salad!

This recipe is actually one that I made first back in 2008, alongside these Steaks with Mexican Spices and Chile Con Queso. This Avocado and Tomato Salad is the definition of simple – which is why it’s so good. I love when you can take so few ingredients and turn it into something so delicious and packed with flavor. And even though it’s April, and super flavorful, in-season tomatoes are no where to be found, this salad still packs a punch. You can bet that I’ll be making this all summer long when the local tomatoes start showing up.

Want more Super Side Salads? Check out this Black Bean, Corn and Tomato Salad (great as a salad or a dip!), this Zucchini and Tomato Salad Recipe (perfect for summer zucchini) or this fresh but hearty Tomato and Black Bean Quinoa Salad.

Or check out these other salads from around the web: Broccoli Bacon Salad from Nutmeg Nanny, Mediterranean Quinoa Salad from Garnish with Lemon, Asian Tomato Ginger Lime Salad from Jeanette’s Healthy Living.

Fresh and bright, this Avocado and Tomato Salad is a perfect side dish alongside any Mexican themed meal. It’s also a great pot-luck salad!

INGREDIENTS

2 large tomatoes, cut into a large dice
2 avocados, cut into a large dice
1 small red onion (or half of a medium red onion), thinly sliced
2 tablespoons chopped cilantro
juice of 2 limes
extra virgin olive oil
salt

INSTRUCTIONS

In a large bowl, combine the tomatoes, avocados, red onions and cilantro. Squeeze the lime juice over the top and drizzle with extra virgin olive oil. Gently stir. Taste and add salt as needed.

NOTES

adapted from Every Day with Rachael Ray November 2008

Recipe Source:tasteandtellblog.com

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