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!

Fruit and Cream Cheese Breakfast Pastries

Up your brunch game with this fast and fresh recipe for Fruit and Cream Cheese Breakfast Pastries topped with your choice of fruit.


It absolutely steals the show when baked into quick and easy breakfast pastries topped with tangy cream cheese filling and piled high with the season’s freshest fruits.

The real beauty of these bite size snacks is that they’re completely compatible 365 days a year with a wide range of fruit toppings. Opt for plump pomegranate seeds in the winter, hearty rhubarb in the spring, juicy berries in the summer, or crisp apples and pears in the fall. Best of all, they’ll be on your breakfast table in 30 minutes or less.


Fruit and Cream Cheese Breakfast Pastries Recipe

Up your brunch game with this fast and fresh recipe for Fruit and Cream Cheese Breakfast Pastries topped with your choice of fruit.



INGREDIENTS

  • 6 ounces cream cheese, at room temp
  • 2 Tablespoons sugar
  • 2 teaspoons lemon juice
  • 1 teaspoon lemon zest
  • 1 teaspoon vanilla extract
  • 1 (17.3-oz.) package frozen puff pastry (2 sheets), thawed
  • 1 1/2 cups fruit (See Kelly’s Note)
  • 1 large egg
  • Sanding sugar (optional)
INSTRUCTIONS
  1. Preheat the oven to 400°F and line two baking sheets with parchment paper or Silpats.
  2. In the bowl of a stand mixer fitted with the paddle attachment, beat the cream cheese with the sugar, lemon juice, lemon zest and vanilla extract until creamy.
  3. Unfold the puff pastry sheets onto a lightly floured work surface. Lightly roll the pastry with a rolling pin to seal the perforations. Using a 4-inch round cookie cutter (or glass), cut out four circles from each sheet of puff pastry.
  4. Transfer four pastry circles onto each baking sheet, spacing the circles about 2 inches apart. Lightly score a circular border 1/4-inch from the edges then prick the centers of each pastry with a fork. Spread a portion of the cream cheese mixture inside the border of each pastry then top the cream cheese with fruit.
  5. In a small bowl, whisk together the egg with 1 tablespoon water. Brush the edges of the pastries with the egg wash then sprinkle them with the sanding sugar (optional). Bake the pastries for 15 to 18 minutes or until they’re golden and puffed.
  6. Remove the pastries from the oven and allow them to cool for 5 minutes on the baking sheets before transferring them to a cooling rack to cool completely.

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