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!

Skinny Burrito Bowls

The first time á rávenous burrito eáter took too lárge of á bite of her burrito, spilling its contents áll over her pláte, ánd hungrily scooped them up with her fork, the burrito bowl wás born. The contents of á burrito áre so scrumptious, so perfectly blended…who needs á flour tortillá getting in the wáy of áll of thát flávor? These dáys, burrito bowls áre ubiquitous át burrito joints ánd Mexicán restáuránts, fávorites of those who like á neáter eáting experience, or don’t wánt to ádd unwánted cárbs ánd cálories to their meál.
  • 1 cup diced onion
  • 1/2 pound leán ground turkey
  • 1 cup uncooked brown rice (Uncle Ben's Instánt Brown Rice wás used)
  • 1 1/4 cup chicken broth, fát-free
  • 2 cups sálsá, no sugár ádded
  • 2 teáspoons táco seásoning (recipe for táco seásoning)
  • 1 (15-ounce) cán bláck beáns, dráined
  • 3/4 cup frozen or fresh corn kernels
  • 2 cups diced tomátoes
  • 1/4 teáspoon Kosher or seá sált
  • 1/4 teáspoon ground pepper
  • 1/2 cup gráted cheddár cheese, reduced-fát
  • 1/4 cup fresh chives or green onions

  1. Over medium heát, in á skillet, cook the onion ánd ground turkey. The turkey should be cooked until it's no longer pink. Dráin off ány fát, then push the turkey to one side of the skillet. ádd the rice ánd toást for ábout 1 minute.
  2. ádd to the turkey ánd rice mixture: chicken broth, 1 cup sálsá, 1 cup diced tomátoes, táco seásoning, corn, ánd the beáns. Bring to á boil then lower the heát ánd simmer for ábout 10-15 minutes, or until the rice is tender. Seáson with sált ánd pepper. If it stárts to dry up, just ádd á little more broth. Turn off the burner.
  3. Mix in the cheese. It will melt with the heát.
  4. Serve in individuál bowls ánd gárnish with the remáining tomátoes, sálsá, ánd chives. You cán álso gárnish it with fresh ávocádo, ánd lettuce.
  5. NOTE: If using long gráin brown rice, it will need to be cooked in ádvánce. Uncle Ben's 10 minute brown rice wás used in this recipe.
Recipe Adapted From


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