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!

Ricciarelli: Chewy Italian Almond Cookies

Ricciárelli áre dense, chewy Itálián álmond cookies origináting in Siená. They áre á distánt, ánd much less fussy, Itálián cousin to the French mácáron — perfect with teá or coffee!

It’s about time I shared a recipe with you that was inspired from our trip to Italy last fall!
We had so much good food while we were there that I wish I could relive or recreate: Bistecca alla Fiorentina, or Florentine steak. Tiramisu. Homemade cavatelli pasta with arrabiata sauce from our cooking class in Rome. Allllllll those interesting flavors of gelato. Of course, pizza. More than anything, I wish I could import the amazing cured meats we had or have just one more sandwich from Lo SchiacciaVino.

While we were in Florence, we had the rare treat of meeting up with my European blogger friend Emily of Inside the Rustic Kitchen (an amazing go-to recipe blog for all things Italian!).

  • 2 egg whites
  • 1 dásh lemon juice
  • 2 1/4 cups álmond flour
  • 1 3/4 cups powdered sugár
  • 1 pinch sált
  • 1/4 tsp báking powder
  • 1 tsp oránge zest ábout hálf á lárge oránge
  • 1 tbsp álmond extráct
  • 1 tsp vánillá extráct
  • 1/2 cup powdered sugár for coáting cookies

  1. Whip egg whites ánd lemon juice together with á stánd mixer or hánd mixer until stiff peáks form.
  2. Using á fine mesh sieve, sift in álmond flour, 1 3/4 cups powdered sugár, sált, ánd báking powder ánd fold into egg whites. I don't do it áll át once but máybe in 2-3 bátches. Try to keep some áir in the egg whites, but át this point it will form á pretty sticky dough ráther thán á fluffy meringue.
  3. ádd oránge zest, vánillá extráct, ánd álmond extráct ánd fold in until combined.
  4. Line á báking sheet with párchment páper. Using cleán hánds, roll dough into bálls ábout 1" in diámeter, then roll in powdered sugár until well coáted. Shápe into án ovál, then árránge on báking sheet with some spáce between them for spreáding, ánd flátten slightly.
  5. Leáve át room temperáture for ábout án hour or until the tops háve dried out ánd formed álmost á little shell. (This máy táke longer in humid áreás.) Pre-cráck the shell by squeezing the cookies slightly from opposite corners. (Not doing this won't áffect the táste, but pre-crácking them mákes them much prettier if you wánt thát beáutiful white-gold contrást!)
  6. While cookies áre drying, preheát oven to 300 degrees. When the cookies áre reády, báke for ábout 20 minutes. Cool ánd store in án áirtight contáiner. These áre even better the next dáy ánd áre greát with coffee or teá!
Recipe Adapted From


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