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!

TCL v Ericsson overturned on appeal in US; will go to jury trial

The IPKat is grateful to the eagle-eyed FRAND watcher Richard Vary for this guest contribution:

Readers will remember the news of Christmas 2017: Judge Selna in the Central District of California determined the FRAND royalties that TCL should pay to Ericsson. The decision attracted comment because the rates were very much lower than the findings that Mr Justice Birss had made in relation to Ericsson's portfolio in Unwired Planet, despite similar evidence

Today the Court of Appeals of the Federal Circuit overturned that decision.

Ericsson appealed on two grounds: that it had been deprived of its right to a jury trial, and that Judge Selna's calculations contained many errors. Happily for Ericsson, but disappointingly for followers of FRAND, the CAFC agreed with the first of those grounds. That means it did not need to look at the second.

The right to a trial by jury arises from the Seventh Amendment to the US constitution. This provides that “[i]n Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be pre-served . . . .” . If the Claimant would have had a right to a jury trial in the common law courts of England (before the courts of law and equity were merged) then he shall have that right in the US.

The issue was whether the relief granted by Judge Selna was legal or equitable. According to a case called Dairy Queen v Wood where there were mixed legal claims and equitable claims arising from the same facts, the legal claims must first be decided by a jury. Judge Selna had determined that all remaining claims were equitable, so could be determined by a bench trial. The CAFC disagreed with Judge Selna in respect of  the past payments that TCL must make to Ericsson, finding that although in form these were an element of the injunctive relief, in substance these were damages for patent infringement. Those are a legal remedy, and as such were a matter for the jury.

As a consequence, Judge Selna's decisions in relation to Ericsson's offers, and his determination of both past and prospective royalties, were vacated. The case is remanded for a jury trial.

Justice Kat will see you now

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