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!

How To Clean Leather Furniture: Leather Couch Care

A leather chair or sofa is an investment. Learn how to clean leather furniture to keep your pieces beautiful for years to come


How to clean leather furniture
Materials:
  • Saddle soap
  • Water
  • Leather cream
  • Soft cloth
  • Rubbing alcohol
  • Cotton swab
According to Pourny, the only regular maintenance your leather sofas and chairs need is a good dusting with a dry cloth every once in a while and a monthly application of a leather cream to keep the material soft and moisturized. Actually, this same product can help you clean up any dirt or stains that crop up, too. Here's what to do, step by step:

1. Start with soap and water
To tackle mild stains, dip a clean, damp washcloth in warm soapy water, and use it to wipe away the stain. Specific leather soaps exist, usually called saddle soaps. Darker stains, like those from an ink pen, are another story. A cotton swab dipped in rubbing alcohol can do the trick. Just be careful to apply it directly .on the stain spot, so the alcohol doesn't spread the stain onto more of the leather


2. Dry thoroughly
Be sure to carefully dry the leather with another clean, dry cloth to avoid any mildew. For best results, leave the spot alone overnight.

3. Apply leather cream
Re-moisturize the material by applying the leather cream with a clean cloth. Let it sink in, then buff to a shine if you'd like.

4. Take it to a professional
If that doesn't work, go to a respected shoe repair shop or leather care expert for help. Even if it's a bit controversial, avoid bringing your garment to your local cleaner, even if they advertise suede and leather care. I do not know anybody that had great luck with them and the damage will be irreversible.

How to avoid cracks and distressed spots
1. Assess the leather quality
Aniline-dyed leather furniture, where the dye penetrates the entire material, is not only durable but is actually meant to look lived-in. “Rather than covering and sealing the surface with a colored coating, we work dyes and waxes into the leather by hand. As a result, we feel like the furniture wears in and not out. It’s very easy to live with, and it develops a rich patina over time.”

2. Consider your room layout
In most cases, it is ambient conditions that will lead to the cracking of leather—extreme temperatures and lack of moisture. “Placing a sofa right under your air-conditioning or next to a radiator or in front of a roaring fire is going to dry out the leather.” Sunlight can also have this effect, so avoid putting furniture right next to a window or glass door, or hang light-blocking curtains.

3. Paws off
Cats, and sometimes dogs, will use leather as a (very expensive) scratching post, so teach them to stay off the sofa. I think this is the biggest cause of damage we hear of from customers calling the studio,

4. Moisturize the leather
To treat specific distressed areas, find a treatment made for your type of leather. Pourny sells an Old World–inspired leather serum and cream, which can be applied with a cloth to soften the leather and smooth scratches, while Oulton recommends Leather Masters. Regardless, use a light hand.  Less is more when applying any product to leather. Test a small area first,“For colored leather, be extra careful and know in advance that any product will most likely darken the leather.”

5. For big jobs, turn to a pro
Don’t run the risk of damaging the leather further. “For large cuts, we recommend contacting a professional who can mix color and texture by applying heat, and make repairs to the leather,”

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