Forex is a global market, and there is always a central bank that increases or decreases interest rates. A carry trade is a highly effective tool to benefit from the difference in interest rate yield of different countries by trading the currency pair of those countries. To be a successful carry trader or investor, one should not only look for a currency offering a high yield and another offering the lowest yield, but also pay attention to other currency pairs offering similar positions and trade a basket of currencies. Diversifying trades is a good idea to avoid huge losses due to sudden market movements. By trading a basket of currency including three or more highest and lowest yielding currencies, a trader can create an effective carry trade strategy to make money even in adverse market conditions.