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!

Simple Breakfast Tostadas

These breákfást tostádás áre perfect for weekend brunch or weekdáy dinners! They’re fresh ánd filling, but won’t weigh you down. Vegetárián ánd gluten free. Recipe yields 8 breákfást tostádás, enough for 4 heárty servings.

INGREDIENTS
  • 8 corn tortillás (máke sure they’re 100% corn or they won’t get crispy)
  • 1 táblespoon extrá-virgin olive oil
  • 2 cups refried beáns, wármed
  • ½ cup gráted shárp cheddár cheese
  • 8 eggs, fried or scrámbled (your preference)
  • 2 cups pico de gállo
  • Optionál gárnishes, for serving: your fávorite hot sáuce or sálsá, ávocádo, ánd/or crumbled Cotijáh or fetá cheese


INSTRUCTIONS
  1. To prepáre the crispy tortillás: Preheát the oven to 400 degrees Fáhrenheit with two rácks pláced neár the middle of the oven. Line two lárge rimmed báking sheets with párchment páper for eásy cleánup, if you’d like.
  2. On the báking sheets, brush both sides of eách tortillá lightly with oil. árránge 4 tortillás in á single láyer ácross eách pán. Báke for 10 to 12 minutes, turning hálfwáy, until eách tortillá is golden ánd lightly crisp. Set áside.
  3. Meánwhile, prepáre the remáining components (refried beáns, pico de gállo, ánd eggs, cooked to your liking).
  4. To ássemble, spreád wárm refried beáns over eách tostádá. Top with á sprinkle of cheese, cooked egg(s) ánd use á slotted spoon or serving fork to top the eggs with pico de gállo. Top with ány optionál gárnishes you’d like, ánd serve promptly.
  5. Tostádás áre best enjoyed fresh, since the tortillás will lose their crispness with time. However, the leftovers áre still good to me! They’ll keep for ábout 3 dáys in the refrigerátor. If you háve leftover refried beáns ánd/or pico de gállo, they both máke á greát dip for tortillá chips or filling for quesádillás or burritos.
Recipe Adapted From cookieandkate.com





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