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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!

BLACK MAGIC JELLO SHOTS

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Black Magic Jello Shots are fun layered jello shots that are perfect for your Halloween party! Everyone will think they’re magical!
Ingredients
  • Blue Layer:
  • 3 ounces Berry Blue Jello mix (1/2 cup powder mix)
  • 1 cup boiling water
  • 1/2 cup cold water
  • 1/2 cup vodka
  • Purple Layer:
  • 3 ounces Grape Jello mix (1/2 cup powder mix)
  • 1 cup boiling water
  • 1/2 cup cold water
  • 1/2 cup vodka
  • Supplies:
  • 2 ounce plastic cup with lids (24 of them)
  • Black Sanding Sugar

Instructions

  1. Place all 24 plastic cups on a baking sheet or on your serving plate, for easy transport. Leave the lids off the cups.
  2. Blue Layer:
  3. Place the Jello mix powder in a medium mixing bowl. Add 1 cup boiling water to the powder and whisk to combine until the powder is dissolved.
  4. Add the cold water and vodka. Whisk to combine.
  5. Fill each plastic cup half way full with blue jello. Place the cups in the fridge and chill until the jello is just about set, about mins.
  6. Purple Layer:
  7. Place the Jello mix powder in a medium mixing bowl. Add 1 cup boiling water to the powder and whisk to combine until the powder is dissolved.
  8. Add the cold water and vodka. Whisk to combine.
  9. Remove the plastic cups from the fridge and carefully pour the purple jello over the blue jello, to create layers, filling each cup the rest of the way.
  10. Return the jello cups to the fridge and chill until completely set, at least 1-2 hours
  11. Finishing:
  12. Remove the jello cups from the fridge, and sprinkle the top of each shot with black sugar.
  13. You don't want to completely mask the purple, but there should be a good layer of sugar.
  14. Place a lid on each cup and refrigerate the shots until ready to serve or put out at your party.
Recipe Adapted From breadboozebacon.com

Recipe Notes
I recommend making the jello for the purple layer right after you put the blue layer in the fridge. Then let the purple layer cool off while the blue layer sets up. That way the hotter jello won't melt the first layer when you add it in.

Nutrition Facts
Black Magic Jello Shots
Amount Per Serving
Calories 49
% Daily Value*
Total Fat 0g0%
Saturated Fat 0g0%
Cholesterol 0mg0%
Sodium 28mg1%
Total Carbohydrates 2g1%
Sugars 6g
Protein 0g0%
* Percent Daily Values are based on a 2000 calorie diet.

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