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!


This is hands-down the BEST sugary sweet Chex Mix Recipe.
One of our favorite family treats is a little heavenly snack we call Num Num mix. We were introduced to it years ago by a friend, and it has been on our must make list since.
 This snack is AH-dictive. We make it for traveling. We make it for holidays. We make it for goody bags for neighbors and friends. We make it just because it is Friday…okay or any day.
I am not kidding when I tell you this simple, buttery, sugary, tastes like the much more delectable cousin of a rice crispy treat is one of the best treats you will eat.
  • 1 1/2 cup light karo syrup
  • 1 1/2 cup sugar
  • 3 1/2 sticks of unsalted butter (I know, I know)
  • 1/2 box of corn Chex, 1/2 box of rice Chex
  • Cooking Spray (for your hands)

  1. Put the Chex into a large bowl. Set aside. In a medium sauce pan that is deep, put syrup, sugar, and butter. Heat it over med high heat. Stir pretty regularly. The mixture will start to dissolve. Once it dissolves continue to heat till boiling. When the mixture starts to boil, stir constantly and allow the mixture to boil for 3 minutes.
  2. After the 3 minutes is up, remove from the heat. Carefully…because this syrup mixture is stinkin’ hot…carry the pan over to the bowl with the Chex in it. Pour the syrup over the cereal. With a rubber spatula begin to gently combine the cereal and the syrup. Stir until the cereal is covered evenly.
  3. Now here is the secret to keeping this snack chewy and ooey gooey. It needs to be monitored as it cools, and it is best to spread it out to cool. SO now is the time to bring out some cookie sheets. Dump the mixture equally between 2-3 cookie sheets. Get out your cooking spray. Spray your hands…I know tricky. With freshly greased hands, separate the cereal pieces from each other and spread them out on the cookies sheets. Now go wash your hands.
  4. Over the next 30 minutes to an hour keep turning the cereal over and separating every 15 minutes or so. No need for cooking spray anymore. You want to continue to keep it moving while it cools. Basically you don’t have to separate it anymore once it has cooled.
  5. Once it has cooled you can store it or give it away.


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