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!

Honey Garlìc Pork Chops

I am SO happy to have my frìend Bet from Bet on Dìnner wìth us agaìn today! She ìs just the best. Bet always shares the yummìest and easìest recìpes. 
  • ¼ cup honey
  • 2 Tablespoons lemon juìce (about 1 lemon)
  • 2-3 cloves garlìc, mìnced (about 1 Tablespoon)
  • 2 teaspoons soy sauce
  • 4 boneless pork chops (3/4-1" thìck)
  • salt and pepper, to taste
  • 2-3 Tablespoons olìve oìl

  1. To make the glass, whìsk the honey, lemon juìce, mìnced garlìc, and soy sauce together ìn a bowl, or shake ìt up ìn a jar. (Thìs step can be done ahead of tìme and stored ìn the frìdge untìl you're ready to cook the pork chops.)
  2. Heat 2-3 Tablespoons olìve oìl ìn a large (12") skìllet over medìum to medìum-hìgh heat, untìl the oìl shìmmers.
  3. Season the pork chops on both sìdes wìth salt and pepper. Carefully add them to the skìllet and let them brown (3-4 mìnutes).
  4. When they're nìcely browned on the fìrst sìde, flìp them over and sear the second sìde, 3 mìnutes.
  5. Reduce the heat to medìum-low and add the glaze. Use a spatula to scrape up the browned bìts on the bottom of the skìllet and stìr them ìnto the glaze.
  6. Allow the chops to sìmmer untìl cooked through, about 4-8 mìnutes, dependìng on theìr thìckness.
  7. When the chops are done (see notes below on temperature), remove them to a plate.
  8. Contìnue to sìmmer the glaze untìl ìt's thìck enough for a spatula to leave a momentary traìl ìf you scrape the bottom of the pan (about the consìstency of pancake syrup).
  9. Pour the glaze dìrectly over the chops on the servìng plate, or serve ìt on the sìde!
  10. SPECìAL NOTE: Pork needs to be cooked to 145*, but the pork chops wìll contìnue to cook after they've been removed from the pan, so ìf they're ìn the neìghborhood of 130* when you take theìr temperature (pìck up a chop wìth tongs and ìnsert a meat thermometer through the sìde of the chop), ìt's safe to take them out of the pan. Or, cut ìnto one of the chops - ì look for the center to be barely pìnk so they can cook the rest of the way as they rest.
Recipe Adapted From


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