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!


Happy New Year!  I looked back and realized I didn't post one recipe in December.  It's not that I didn't do a lot of cooking and baking, I did, but during the holidays I stick to my tried and true recipes.  One recipe that has made it into that category is this tiramisu recipe.  If I had to pick a favorite dessert, tiramisu would be it.  I thought I would have to try a few recipes before I found a keeper but after serving this to my daughter (and she likes tiramisu as much as I do), she agreed with me, this one is perfect.

I've only made this twice and have looked forward to making it again soon.  Just so happened, I got a call yesterday about getting some friends together for dinner next weekend. There will be 5 couples and trying to get that many around a table at a restaurant and trying to visit with everyone, didn't sound like as much fun as it would be to just have them all over.  The funny thing was, as I was suggesting to have this dinner party, I was thinking, "Oh good, I have a reason to make tiramisu again!" and "Oh good, I will make those really good stuffed shells that I made over the holidays and forgot to take a picture for my blog and now I can!"  and "Oh good, I have some Lemoncello in the freezer I've wanted to open!"  So right then and there, I planned an Italian themed dinner party.   The planning (for me) is always the hardest part and since I already had a plan and my friend did the inviting, and the guests are bringing the wine, this should be an easy, fun and delicious get together!

Hopefully I remember to take a photo of the Stuffed Shells this time so I can post them because they are a keeper too!


  • 4 egg yolks
  • 2 tablespoons whole milk
  • 2/3 cup granulated sugar
  • 2 cups (16 oz.) mascarpone cheese
  • 1/4 teaspoon vanilla extract
  • 1 cup heavy cream
  • 24 ladyfingers
  • 1/2 cup cold espresso (I use instant espresso coffee - Medaglia D'oro)
  • 1/4 cup Kahlua
  • 2 teaspoons cocoa powder

  • Directions
  • 1. Fill a medium saucepan halfway with water and bring it to a boil over medium/high heat, then reduce the heat so that the water is simmering.

  • 2. Whisk egg yolks, milk and sugar together in a medium metal bowl, then place the bowl on top of the saucepan.
  • 3. Whisk the mixture often for 10 minutes until the mixture thickens.  The mixture becomes light yellow and thick.
  • 4. Remove the bowl from the heat and let it cool to room temperature.  Add  2 cups of mascarpone cheese and the vanilla and whisk until smooth.
  • 5. In a separate bowl, whip the cream with an electric mixer until thick.
  • 6. Gently fold the whipped cream into the mascarpone mixture until it’s completely incorporated, but don’t over mix, you want to keep it light and fluffy.
  • 7. Combine the espresso and Kahlua in a shallow bowl, big enough to dip ladyfingers.
  • 8. One-by-one, dip each ladyfinger in the espresso.  The ladyfinger will soak up the espresso like a sponge, so dip quickly.
  • 9. Arrange 12 of the dipped ladyfingers side-by-side on the bottom of an 8 x 8 inch serving dish or baking pan. (You might have to break a few to get a single layer)
  • 10. Spoon about half of the cheese mixture over the ladyfingers, then add another layer of soaked ladyfingers on top of the cheese mixture.
  • 11. Spoon the remaining cheese mixture over the second layer of ladyfingers and spread it evenly.
  • 12. Cover and chill for at least 6 hours.  I like to make the day before.  If by chance there are leftovers, no worries as it is still good days later!
  • 13. Before serving put cocoa powder in a tight-mesh strainer and gently tap the side of the strainer to add an even dusting of cocoa powder over the top of the dessert.
  • 14. Serves 9 large pieces but I like to cut it into 12 smaller pieces.
adapted from Top Secret Recipes - Olive Garden Tiramisu 



Halaman Berikutnya

Subscribe to receive free email updates: