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!

FRIED CABBAGE AND POTATOES WITH BACON

This is a really easy fried cabbage and potatoes recipe with crispy bacon. Only six ingredients and one pan needed. This fried cabbage and potatoes with bacon is perfect dish for warm weather dinner.



The most important is this fried cabbage and potatoes dish is a really quick skillet dinner for two that’s ideal for those busy weeknights. There are only six total ingredients — and that includes salt and pepper — and you only need one pan and thirty minutes of your time. I love all of these ingredients; the inclusion of potatoes turns this into a really comforting dinner, and the crispy bacon adds a crunch to every bite. I consider this to be a dinner dish, but it can also be served as a hearty side dish.



This is one of my favorite ways of cooking cabbage, which is a great vegetable because it’s high in fiber and low in calories. To turn this into a healthier dish, you can substitute green cabbage for a mix of green and purple cabbage.


Fried Cabbage and Potatoes with Bacon Recipe

This is a really easy fried cabbage and potatoes recipe with crispy bacon. Only six ingredients and one pan needed.



Ingredients

  • 10 ounces shredded green cabbage
  • 1 Russet potato peeled and chopped into 1/2-inch pieces
  • 5 strips bacon
  • 5 cloves garlic minced
  • 1/4 teaspoon salt
  • 1/4 teaspoon freshly ground black pepper
Instructions
  1. Cook bacon on a large nonstick pan over medium heat until crispy, about 10 minutes, flipping occasionally. Transfer bacon to a paper towel to drain. When cool, crumble into 1/2 to 1 inch pieces.
  2. Add potatoes, cabbage, salt, and pepper to the pan, stirring with the bacon drippings. Cover with a lid and cook until the potatoes and cabbage are tender, removing the lid to occasionally stir.
  3. Add minced garlic to the pan, stirring with the other ingredients until fragrant, about a minute.
  4. Remove pan from heat. Add crumbled bacon and serve.

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