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!

RICH HOMEMADE HUMMUS

It’s slow cooker week here on BGSK and SKC! All week long, we’re teaming up with Kelsey Banfield, The Naptime Chef , to bring you the first ever Slow Cooker Challenge. Don’t forget to enter the giveaway, and read on for another great slow cooked recipe!

For a lot of quarter-life cooks, store-bought tubs of hummus are subsistence-level forms of nourishment, akin to cereal and peanut butter, or, in Alex’s case, sardines.

For the slightly more domestically inclined, we’ve offered loads of hummus and hummus-like recipes that entail just opening a can or two and blending. (Here’s chipotle hummus, white bean dip, and black bean dip.)
But there is more to our beloved dip than even this.

Have you ever been to a really good Greek or Middle Eastern restaurant–or better yet, to Greece or the Middle East? The kind of cafe where not only the pita, but also the hummus, comes out warm, and the dip is fluffy and creamy and slightly tangy?

This kind of hummus (I like the ones at Balaboosta, Taboon, and Waterfalls Cafe) is best made from dried chickpeas, which get cooked to creamy perfection, blended with generous spoonfuls of tahini, olive oil, and lemon, and served still warm.

Now I know dried beans are cheap and good, and I do buy them from the bulk bin occasionally and take the time to cook them up. But not as much as I’d like. To make a pot of beans, you have to commit to being around for a while. You more or less have to watch the beans cook (and we all know what happens to a watched pot, right?), tasting them every 30 minutes to monitor their consistency, removing them from the heat when they’re neither too hard nor too soft. It’s hard to time this perfectly, since cooking time depends on the freshness of your beans, which you have no way of knowing.

The slow cooker solves one part of this problem: not having to leave the house with the burner on. But if you are away, and your beans get overcooked, you won’t confidently be able to use them in a bean salad. Fortunately, beans for hummus need not be attractive; they can even be a little falling apart. You don’t have to obsess over their texture.

Ingredients
  • 2 cloves garlic
  • 2 teaspoons salt
  • juice of 2 lemons
  • 3 1/2 cups Freshly Cooked Chickpeas (Recipe Follows)
  • 1/2 cup tahini
  • 1/4 teaspoon cumin
  • about 1 cup olive oil

INTRUCTIONS
  1. Place the garlic and 1 teaspoon of salt in a food processor. (If you have a mini prep, you’ll have to do this in two batches.) Process until the garlic is pureed, then add the lemon juice. Pulse again.
  2. Reserving a few chickpeaas for garnish, add 3 1/2 cups of chickpeas (that’s about what the slow cooker should have yielded) and 1/4 cup of their cooking liquid. Add the tahini, the cumin, and 1/2 cup olive oil, and pulse to create a dip, adding more tablespoons of cooking liquid as you go as necessary to make a smooth paste. Drizzle in most of the rest of the olive oil and the second teaspoon of salt, tasting as you go until the hummus is rich and creamy.
  3. Scrape the hummus into a bowl. Top with a few chickpeas, drizzle with a little more olive oil, and sprinkle with cumin. Serve with warm triangles of pita.
NOTE: If you’re trying to speed up the pace, you can skip the overnight soak. Instead, place the chickpeas in a pot, cover them with two inches of water, and bring to a boil. Turn off the water and let them sit for 1 hour. Then proceed with the recipe.

Place the soaked chickpeas, the garlic, and the olive oil in a slow-cooker. Add water to cover the chickpeas by at least 4 inches, then place the lid on and turn the slow-cooker to low. Cook for about 6 hours on high or 12 hours on low, until the chickpeas have almost no resistance when you bite into them. Add the salt, then cook until they’re completely soft. Turn off the slow cooker and drain the chickpeas, reserving the liquid in a bowl. (Store any extra chickpeas in their liquid in the fridge.)

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