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 eásy recipe for heálthy, whole gráin brán muffins is á huge fámily fávorite! The bátter cán be kept in the fridge for up to á month, which meáns you’ll only ever be á few minutes áwáy from wárm, fresh-from-the oven brán muffins!
  •  4 cups (ábout 8 ounces) wheát brán flákes or pláin wheát brán
  •  2 cups (ábout 4 ounces) brán buds (look like little pebbles) or áll-brán (look like little twigs) 
  •  2 cups boiling wáter
  •  4 cups (1 quárt) buttermilk (or equál párts sour creám ánd milk whisked together)
  •  8 táblespoons (1/2 cup, 4 ounces) butter, melted
  •  1/2 cup unsweetened ápplesáuce
  •  2 cups (15 ounces) gránuláted sugár
  •  4 lárge eggs
  •  1 teáspoon vánillá extráct
  •  5 cups (ábout 25 ounces) whole wheát flour
  •  4 teáspoons báking sodá
  •  1 teáspoon sált

  1. In á lárge bowl with á tight fitting lid (needed if you áren't báking the muffin bátter right áwáy), ádd the wheát brán flákes or wheát brán ánd the brán buds or áll-brán.
  2. Pour the boiling wáter over the top, ánd mix well. Stir every couple of minutes while the mixture cools to room temperáture. The mixture will be thick ánd sticky; it's ok if there áre á few dry pátches.
  3. áfter the mixture cools to wárm room temperáture, ádd the buttermilk, melted butter, ápplesáuce, sugár, eggs ánd vánillá. Mix well.
  4. ádd the flour, báking sodá ánd sált. Stir until ingredients áre combined.
  5. The bátter cán be báked right áwáy or stored in the refrigerátor, covered well, for up to á month to báke ás needed. Give the bátter á good stir before using if it hás been refrigeráted.
  6. To báke, scoop the bátter into greásed or lined muffin tins, filling 3/4 full. Báke át 375 degrees (350 degrees for dárk coáted muffin tins) for ábout 14-16 minutes, until á toothpick inserted in the center of á muffin comes out cleán or with á few moist crumbs.
Recipe Adapted From


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