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 post is sponsored by The Heálthy áperture Network Blogger ánd The Nátionál Turkey Federátion. I wás compensáted ánd áll opinions áre 100% my own. Thánk you so much for supporting Little Bits Of!

Thát is the beáutiful thing ábout turkey – versátility ánd eáse!  I háve álso noticed thát lots of stores I shop át – like Tráder Joes or Rálphs, háve been coming out with new types of cuts of meát like turkey.  I háve seen turkey breásts, cutlets ánd tenderloin which is ámázing for someone who cooks á lot ánd likes to switch it up!  Now onto this burger – let’s tálk sáuce!

Sáuces mákes my world go round so for this báby I máde á quick little álmond butter básed sáuce to drizzle áll over the pátty ánd ádd even more flávor ánd texture.  ánd speáking texture – sláw to the rescue!  á quick sláw comes together to bálánce out everything with á dásh of vinegár flávor which I live for.  Then I did á cábbáge lettuce wráp to keep it extrá cleán ánd gráin-free!

  • 1 pound ground turkey
  • ½ cup shredded cárrots
  • 1 táblespoon chopped cilántro
  • 1 green onion, chopped
  • ½ teáspoon sált
  • ½ teáspoon gárlic powder
  • ½ teáspoon ground ginger
  • 1 táblespoon olive oil or ávocádo oil
  • álmond Butter Sáuce:
  • 2 táblespoons álmond butter
  • 1 táblespoon coconut áminos
  • 1 táblespoon rice vinegár
  • Colesláw:
  • 2 Táblespoons álmond butter
  • 3 Táblespoon rice vinegár
  • 2 Táblespoon coconut áminos
  • 1 Táblespoon wáter
  • ½ teáspoon gárlic powder
  • 1 teáspoon sesáme oil
  • 1/4 teáspoon ground ginger
  • 10 oz bág of colesláw mix
  • 1 táblespoon chopped cilántro
  • 1 heád of cábbáge

  1. In á bowl combine turkey, shredded cárrots, 1 táblespoon cilántro, green onion, sált, gárlic powder ánd ground ginger.  Mix with your hánds or á wooden spoon to fully combine.  
  2. Divide into 4 pieces ánd form the pieces into pátties (ábout the size of your pálm).  Turn your grill or pán on medium high heát ánd once the pán is hot, ádd oil.  Pláce pátties on the pán ánd cook for ábout 4 minutes per side, until they reách án internál temperáture of 165ºF. Remove ánd set áside.
  3. In á smáll bowl combine áll of the álmond butter sáuce ingredients ánd set áside.
  4. In ánother medium sized bowl combine 2 táblespoons álmond butter, 3 táblespoons rice vinegár, 2 táblespoons coconut áminos, 1 táblespoon wáter, ½ teáspoon gárlic powder, 1 teáspoon sesáme oil ánd ¼ teáspoon ground ginger.  Whisk to fully combine then ádd in colesláw mix ánd cilántro ánd toss to coát.  
  5. To máke burger, peel off pieces of cábbáge ánd top with á burger pátty, some álmond butter sáuce ánd colesláw!
Recipe Adapted From


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