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!

Parmesan-Butternut Squash Gratin

Crispy bread crumbs add a bit of crunch to tender slices of butternut squash seasoned with garlic and Parmesan, making this a can’t-miss side that even veggie skeptics adore. It’s also easy to make ahead — perfect for holiday feasts. 
Ingredients
  • 1 butternut squash (2 1/2 lb)
  • 1/4 cup butter or margarine
  • 2 large cloves garlic, finely chopped
  • 1/4 cup Progresso™ panko bread crumbs SAVE $
  • 1/3 cup grated Parmesan cheese
  • 1/4 teaspoon salt
  • 1/8 teaspoon pepper
  • 1/4 cup chopped fresh parsley

Steps

  1. Heat oven to 375°F. Spray 13x9-inch (3-quart) glass baking dish with cooking spray. Peel, halve lengthwise and seed squash; cut into 1/2-inch-thick slices. Arrange with slices overlapping slightly in bottom of baking dish.
  2. In 2-quart saucepan, melt butter over medium heat. Reduce heat to low. Add garlic; cook 2 to 3 minutes, stirring frequently, until garlic is soft and butter is infused with garlic flavor. Do not let butter brown.
  3. In small bowl, mix bread crumbs, cheese and 1 tablespoon of the butter-garlic mixture.
  4. Brush squash slices with remaining butter-garlic mixture. Sprinkle with salt, pepper and bread crumb mixture.
  5. Bake uncovered 30 to 40 minutes or until squash is tender when pierced with fork. Increase oven temperature to 425°F; bake 5 to 10 minutes longer or until lightly browned. Before serving, sprinkle parsley over top.
Recipe Source:bettycrocker.com

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