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!

BEST EVER VEGAN CINNAMON ROLLS

One word to describe these homemade vegan cinnamon rolls: A-mazing! Don’t be fooled, these classic mouthwatering swirls of cinnamon are much easier to make than you think!
Ingredients
  • Yeast Mixture:
  • 1 packet (2 1/4 tsp) active dry yeast
  • 1 cup dairy free milk, warmed
  • 1 tbs sugar
  • Dough:
  • 2 1/2 - 3 cups all-purpose flour
  • 1/4 cup sugar
  • 5 tbs vegan butter, melted (I used Earth Balance)
  • 1 tsp salt
  • Filling:
  • 1/4 cup brown sugar
  • 1 1/2 tbs cinnamon
  • 2 tbs vegan butter, melted
  • Glaze:
  • 1 cup powdered sugar
  • 1-3 tbs dairy free milk

Instructions
  1. Yeast Mixture:
  2. Carefully warm 1 cup of dairy free milk on the stove or in the microwave. Take care to make sure it is not too hot, or the you'll kill the yeast. The milk should feel warm to the touch, not hot (if you have a thermometer, around 110 °F or 37 °C)
  3. Add 1 tbs sugar and stir into milk
  4. Sprinkle yeast onto milk and sugar and stir
  5. Allow to sit for about 10 minutes. If the mixture gets frothy and "grows", you're good to go. If nothing happens, your yeast is old or your milk was too hot
  6. Making the Dough:
  7. To a large bowl, add all dry ingredients (flour, salt and sugar) and stir together. Start with 2 1/2 cups of flour and reserve the other 1/2 cup if your dough is too sticky/wet
  8. Gently melt the butter and add to flour mixture
  9. Pour in your milk/sugar/yeast to the flour and butter
  10. Slowly stir everything together until your dough starts forming
  11. If you need to add the reserved 1/2 cup flour, do so now. The dough will be super soft and should be a little sticky
  12. When you have a reasonably formed ball of dough, turn out onto a floured surface and gently kneed several times (you could do this with a stand mixer but I find doing it by hand is just as easy)
  13. Oil a bowl and place your dough ball into it. Place dough in a dark, warm place to rise for 1 hour. I like to set my oven to it's lowest setting and place the bowl on top of the stove (not inside the oven!), covering with a towel
  14. Filling:
  15. In a small bowl, combine brown sugar and cinnamon
  16. Take your newly risen dough ball and kneed a couple times on a well floured surface
  17. Roll out into a rectangle. The size will depend on how thick you want the dough to be and how wide you ultimately want the rolls to be. I roll mine out until the rectangle is roughly 12" or so by 15" or 16", with the longer edges laying horizontal and the shorter edges laying vertical
  18. Spread the melted vegan butter onto the rectangle. Leave about an inch border of each edge butterless, except for the edge closest to you
  19. Spread sugar and cinnamon mixture all over your buttered dough. Use your rolling pin to gently press the filling down onto the butter
  20. Starting with the edge closest to you, gently begin rolling the dough away from you
  21. When finished, orient the roll so that the seam is facing down on your surface
  22. Using a serrated knife, cut off about 1 inch from each side (this is where there is no filling)
  23. Cut the roll into 10 sections of about 1 - 1 1/2 inches in thickness
  24. Place rolls into a nonstick baking pan (I used a 9" round, an 8"x8" square would also work). If you're not using a nonstick pan, grease or spray your pan! I didn't need to grease my pan, but I did spritz the top of the rolls with a little coconut oil spray to get a little browning
  25. Preheat oven to 350 °F
  26. While the oven is preheating, place the pan of rolls onto the stovetop and cover with a towel again (this is a little mini rise - just for a few minutes while the oven preheats!)
  27. When the oven is warm bake rolls for 25 minutes, or until they are golden and feel firm to the touch
  28. Glaze:
  29. Whisk together powdered sugar and dairy free milk in a bowl - start with 1 tbs of milk and add 1 tbs at a time if you prefer a thinner glaze
  30. Pour glaze over warm cinnamon rolls
  31. Enjoy!
Notes
If you want to go the more traditional route in terms of icing, check out my vegan cream cheese icing recipe!

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