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!

Cowboy Caviar

The Christmas season and the year might be drawing to a close, but that doesn’t mean that the season of food traditions is ending. Quite the opposite, in fact, because we’ve got one final holiday to celebrate with a culinary bang: New Year’s Eve! For a great part of the United States, that means that black-eyed peas – sign of humility and good fortune – will be appearing on party-goers’ plates, and we’ve got just the dish to serve it up in style: Cowboy Caviar!

Yes, Cowboy Caviar, but don’t worry— this version of “caviar” bears little resemblance to that other, more fishy champagne-accompaniment. Instead, it’s packed full of those lucky, humble black-eyed peas and tons of other tasty veggies for an appetizer that’s as flavorful as it is healthy. Frankly, we much prefer eating this with our champagne at our New Year’s Eve parties— and with beer, wine, soda and other party beverages!
We know you and your guests will love it, too, so watch how easy it is to make, then read on for the super-simple directions for the best New Year’s dish yet!
Ingredients
  • 3 cups seeded and diced Roma tomatoes (about 1 pound Roma tomatoes)
  • 1 – 15-ounce can corn kernels, rinsed and drained
  • 1 cup seeded and diced bell pepper, any color (about 1 medium pepper)
  • ¾ cup red onion or shallot, small diced
  • 1 – 15-ounce can black beans, rinsed and drained
  • 1 – 15-ounce can black-eyed peas, rinsed and drained
  • 1 jalapeño, seeded and minced (optional)
  • ¾ cup chopped cilantro (about ½ bunch fresh cilantro)
  • 1 to 2 avocados, sliced (optional)

DRESSING
  • ⅓ cup olive oil
  • 2 tablespoons red wine vinegar
  • 2 tablespoons fresh lime juice (about 1 lime)
  • 1 teaspoon honey
  • 1 teaspoon cumin
  • 1 clove garlic, pressed or minced
  • 1 to 2 teaspoons salt, or to taste
  • ¼ teaspoon freshly ground black pepper, or to taste

Directions
  1. In a large bowl, add the diced tomatoes, corn kernels, diced bell pepper, diced red onion, black beans, black-eyed peas, and minced jalapeño. Stir to combine.
  2. In a small bowl, add the olive oil, red wine vinegar, lime juice, honey, cumin, minced garlic, salt and black pepper. Whisk the dressing ingredients together until well-combined.
  3. Pour the dressing into the large bowl over the veggies. Add the cilantro, and stir to combine. Taste and adjust the seasoning, if needed.
  4. over and chill for at least 1 hour, or overnight to blend flavors.
  5. Serve chilled or at room temperature, with sliced avocado or corn chips, as desired.
Chef’s Tip
If including the avocado, wait to slice until ready to serve, so it does not turn brown in the meantime.
See how simple and delicious this Cowboy Caviar is? It’s a great way to serve up some vegetables, end this year on a good note, and start off the New Year on a healthier foot while also making things feel festive and special. And let’s be honest— it’s a lot more appetizing than traditional caviar, now isn’t it?!
So what do YOU think of our “Cowboy Caviar”? Have you ever enjoyed anything similar? Do you like regular caviar, too? Are you planning on eating some black-eyed peas for New Year’s, or do you have any other food traditions for the end of one year and the beginning of another? Tell us if you give this dish a try and let us know how your New Year’s celebrations go!

More Deliciouse Recipe Cowboy Caviar @ tiphero.com

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