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!

BEST EVER BAKED TOFU

This 6 ingredient Best Ever Baked Tofu is jam packed with savory & sweet flavor! Learn how to make even tofu haters into lovers with this recipe.



It is sticky with a deeply savory and slightly sweet glaze. Most baked tofus are spongy, but this Best Ever Baked Tofu is long baked to remove the excess moisture which gives the tofu and irresistible chewy texture. It is similar to a really high quality beef jerky, only it is vegan, gluten free, and healthy to boot.



This recipe took me quite a few tries to hit the nail on the head. Lets just say that I have been eating this tofu for years, and am only now sharing it on the blog.


And when I finally got it right, you had better believe that their were happy dances as I pranced around the house with sticky fingers and a slice of half eaten Best Ever Baked Tofu.

BEST EVER BAKED TOFU RECIPE
This 6 ingredient Best Ever Baked Tofu is jam packed with savory & sweet flavor! Learn how to make even tofu haters into lovers with this recipe.



Ingredients
  • 3/4 cup maple syrup
  • 1/2 cup liquid aminos
  • 1/2 cup water
  • 1 teaspoon smoked paprika
  • 1/2 teaspoon garlic powder
  • 1/2 teaspoon onion powder
  • 1 block extra firm tofu
Instructions
  1. Whisk together all of the marinade ingredients.
  2. Slice the tofu into 1/2 inch thick squares and submerge them in the marinade. Cover and let marinade overnight in the fridge.
  3. The next day, preheat the oven to 300 degrees. Line a baking tray with parchment paper. Place the tofu on the baking tray, with a little space in between them so they aren't touching. Reserve the marinade. Place in the oven and bake for 30 minutes.
  4. While the tofu is baking, take the reserved marinade and heat it in a small saucepan over medium heat. Simmer until reduced by two thirds. The marinade will be thick and syrupy.
  5. Once the tofu has baked for 30 minutes, baste the top and sides of the tofu with the reduced sauce. Flip the tofu and baste the other side. Return the tofu to the oven and bake for another 1 hour and 30 minutes, basting and flipping the tofu every thirty minutes. Serve.

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