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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!

10 Awesome Small Balcony Ideas

Homes with a tiny balcony often have people troubled with the shortage of space this significant section of their house comes with, making it hard to decorate or make it purposeful enough.


However, just a bit of innovation and little elements of creative decor can make a huge difference, glorifying even the smallest of balconies, just like these Some Awesome Small Balcony Ideas!

1. Pallet Project: Patio Day Bed


Not much space to line chairs? Have this single bench serve the purpose of a balcony lounge as well as seating. Four same-sized pallets end up in this stunning patio bed when double stacked and placed side by side.

2. Tiny Outdoor Patio


Who said you can’t make the most of even the tiniest cramped balconies? Install a chair and side table combo, throw in some cushions on the chair, and add bright greens with hanging flower pots.

3. Small Balcony Lighting


A cozy mattress kept on the floor has been coupled up with a few cushions. Additionally, a whole bunch of lights, including hanging lanterns and mason jar candles work wonders to make the space glow with beauty.

4. Go For Black and White



How everything in this chic decor is kept minimal with a color scheme of black and white makes every single element standout with grace. The white bench and flower pots compliment the cushion fabric just perfect.

5. Wood Does The Magic


Don’t be afraid to experiment with the floor. A clever tiling can transform the whole space – wooden tiles from a hardware store line the floor for a rustic appeal, while coordinating chairs and a plant ladder go for decor.

6. Vintage-Themed Balcony



Have this stunning balcony brightened up with lanterns and candles as your after-work retreat. The table chair duo become so cozy with so many lights, vintage decor elements and wooden textures.

7. Wooden Table and Chairs



Beautiful deck chairs and that semi-circular folding wooden table attached to the railing of the balcony are the sureshot showstealer of this inspiration. Perfect for working or simply relaxing over a cup of coffee!

8. Get All Cozied Up



What this pretty little balcony focuses on is to let you spend hours of coziness out in the open air. And that’s why it goes for mattresses, blankets, and cushions for the chairs, coupled with a mini coffee table.

9. Private Outdoor Space



That subtle decor and basic-shaped furniture in dark staining puts together a complete private outdoor space for you. The bench is lined with a mattress and pastel cushions, having the square table adorned with pretty plants.

10. Cozy Balcony with Vertical Planters



Vertical plants in rustic pots installed up that wooden slatted wall is no less than enchanting. To make it cozy and comfy, add mini couches and cushions in the balcony, finishing things off with a compact coffee table.
Article Source : Awesome Small Balcony Ideas @ cutediyprojects

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