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!

BERRY MINI PIES

Instead of making a regular pie, I thought it would be fun to make these festive little mini pies! I stuffed them with strawberries and blueberries and cut the pies into cute little stars to keep with a patriotic theme, but these are really quite versatile. You can use any shape and stuff them with any berry you’d like or even do a combo of berries! It’s up to you. I took a shortcut here and used refrigerated pie crust, but if you are against that, you can always make your own pie dough. I served my mini pies with some homemade whipped cream mixed with vanilla bean paste. These are the perfect summer dessert and you don’t need a plate or fork to eat them!

INGREDIENTS:
  • 2 cups diced berries (strawberries, raspberries, blueberries)
  • 3 tablespoons granulated sugar (or raw sugar)
  • 2 teaspoons lemon juice
  • 2 refrigerated pie crusts
  • flour for dusting
  • 1/4 cup milk
  • raw sugar for sprinkling
  • whipped cream


DIRECTIONS:
  1. Preheat oven to 350F. Line cookie sheet with parchment paper or a baking mat.
  2. Stir together the berries, sugar, and lemon juice. Set aside.
  3. On a lightly floured surface, unroll pie crusts and cut dough with cookie cutter (about 3-inches wide). Reroll scraps as necessary. Place half of the cut dough pieces on the cookie sheet.
  4. Scoop about 1 tablespoon of the filling into the middle of each piece on the cookie sheet. Then place the extra dough pieces on top of each pie. Use the back of a fork to press down around the edges of each pie to seal. Brush tops of the pies with milk. Sprinkle the tops with raw sugar. Bake for about 15 minutes or until golden. Let cool at least 10 minutes before serving. Serve with whipped cream for dipping.

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