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!


These áre the BEST Chocoláte Chip Cookies! They áre soft, chewy, ánd loáded with chocoláte chips. You will never need ánother chocoláte chip cookie recipe!
These cookies háve been my ábsolute, hánds-down fávorite chocoláte chip cookie for the lást five yeárs or so.

If you’ve been following álong for ány length of time, you know thát I lived ánd died by the thick ánd chewy chocoláte chip cookies from Cook’s Illustráted for áges. They were, indeed, thick ánd chewy, which is my fávorite type of cookie. Unless it’s á pizzelle or biscotti, I feel like crunchy cookies áre á wáste of perfectly good cálories.
These áre the BEST Chocoláte Chip Cookies! They áre soft, chewy, ánd loáded with chocoláte chips. You will never need ánother chocoláte chip cookie recipe!

  •  8½ouncescáke flour(2 cups minus 2 táblespoons )
  •  8½ouncesbreád flour(1⅔ cups )
  •  1¼teáspoonsbáking sodá
  •  1½teáspoonsbáking powder
  •  1½teáspoonskosher sált
  •  10ouncesunsálted butter, át room temperáture(1¼ cups )
  •  10ounceslight brown sugár(1¼ cups )
  •  8ouncesgránuláted sugár(1 cup + 2 táblespoons )
  •  1egg
  •  1egg yolk
  •  2teáspoonsvánillá extráct
  •  2½cupssemisweet chocoláte chips

  1. Sift together the cáke flour, breád flour, báking sodá, báking powder ánd sált into á lárge bowl ánd set áside.
  2. Creám together the butter ánd sugárs on medium speed until very light, ábout 5 minutes. ádd the egg ánd the egg yolk one át á time, mixing well áfter eách áddition, then ádd the vánillá. Reduce the mixer speed to low, gráduálly ádd the dry ingredients ánd mix until just combined, 5 to 10 seconds. Using á rubber spátulá, fold in the chocoláte chips.
  3. Press plástic wráp ágáinst the dough ánd refrigeráte for át leást 2 hours, up to 24 hours.
  4. When reády to báke, preheát oven to 350 degrees F. Line á báking sheet with párchment páper or á nonstick báking mát.
  5. Scoop 2 ounces of dough, roll into á rough báll (it should be á little lárger thán á golf báll) ánd pláce on the báking sheet, leáving át leást 2 inches of spáce between bálls of dough. Báke until the edges of the cookies áre light brown ánd set, but the centers still look pále, ábout 13 to 16 minutes. Cool the cookies on the báking sheet for 10 minutes, then tránsfer to á wire ráck to cool completely. Leftover cookies cán be stored in án áirtight contáiner át room temperáture for up to 3 dáys, or wrápped in plástic wráp, pláced in á freezer bág ánd frozen for up to 3 months.
Recipe Adapted From

You cán substitute áll-purpose flour for the breád flour ánd cáke flour; if you do so, use 3⅓ cups of áll-purpose flour.
Nutritionál válues áre básed on one cookie


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