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!

2-INGREDIENT WATERMELON SHERBET

2-INGREDIENT WATERMELON SHERBET

2-Ingredient Watermelon Sherbet is a light, refreshing frozen treat that comes together with just fruit and yogurt, the perfect healthy snack or dessert for cooling down all summer long!

Course: Dessert
Cuisine: American
Keyword: watermelon sherbet
Prep Time: 10 minutes
Cook Time: 0 minutes
Servings: 6 servings (Approximately 3 cups sherbet) 
Calories: 40 kcal
Author: Samantha at Five Heart Home

INGREDIENTS
  • 3 cups seedless watermelon cubes, cut 1 inch in size and frozen solid
  • 1/2 cup vanilla yogurt

INSTRUCTIONS
  1. Add half of the frozen watermelon cubes to a large food processor. Process until the watermelon breaks down and becomes grainy. Stop the food processor and add half of the yogurt. Process until the mixture becomes smooth and creamy, scraping down the sides of the bowl as necessary. Scoop the sherbet into a separate container and repeat steps with the remaining ingredients.
  2. Serve immediately for a frozen yogurt/soft-serve consistency. For a firmer consistency, freeze for 1 to 2 hours and then scoop. Leftovers may be frozen solid, but the sherbet will be very hard and impossible to scoop straight out of the freezer. Instead, place the container of frozen sherbet in the refrigerator to slowly soften for 3 hours before serving, at which point it should be scoopable.
Notes
A small (personal-sized) seedless watermelon will yield around 7 cups of watermelon cubes, enough for at least two batches of this recipe. I try to remove as many small seeds as possible while cutting my watermelon into cubes so that the seeds don't end up in the sherbet.
To freeze the watermelon cubes, place them in a single layer on a rimmed baking sheet and place in the freezer for at least 4 hours but preferably overnight. Make sure there's not excess watermelon juice on the pan or the cubes will freeze into a solid mass. I also prefer freezing the cubes on top of a piece of foil or parchment paper which makes it easier to release them from the pan later.
When making this sherbet, be sure to work quickly or the watermelon will start to thaw and the sherbet may become watery.

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