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!


Leche Flan is a popular dessert in the Philippines, it is from the same family of cream caramel, crème Brule, and custard. The only downside of leche flan is the fact it’s too sweet and too thick and has just so many egg yolks.

The leche flan recipe I’m sharing today has almost the same taste but is not thick, it’s lighter in calories and you’ll enjoy your portion without the guilt. There are few things that you should keep in mind when making leche flan or any other custard-like dish.

  • 3 large eggs + 1 yolk
  • 1/3 cup sugar
  • ¾ cup sweetened condensed milk
  • ¾ cup evaporated milk
  • 1 ½ teaspoon vanilla
  1. In a saucepan, add sugar and two tablespoon of water. Cook the sugar until dark golden, remove immediately from heat and pour into four ramekins. The ramekins should take around ½ cup liquid.
  2. In a bowl, add the eggs and vanilla, whisk for two minutes. Add the condensed and the evaporated milk and mix well.
  3. Strain the mixture through a strainer while pouring it into the ramekins.
  4. Place the ramekins in a large and deep baking pan. Fill the baking pan with water until it reaches half the ramekins.
  5. Bake the leche flan in a preheated oven of 375F/190C for 25 minutes or until a toothpick inserted in the middle comes out clean. It’s better to check on the flan every 10 minutes to avoid overbaking.
  6. Cool the flan completely then refrigerate for at least an hour before serving.
  7. To serve it on a plate, run a butter knife around the edges of the flan, then inverted in your serving plate.
Recipe Adapted: Leche Flan Lighter Version Recipe @ munatycooking


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