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!

Bacon Crackers

Bacon Crackers
Let’s face it, cheese and crackers just don’t make for a crackin’ party. But put bacon on a cracker, and that’s an appetizer that every carnivore can get behind.
The salty-sweet-savory-spicy crunch of these bacon crackers will push all of your buttons. The name of this recipe tells it like it is. They’re basically crackers with candied bacon on top, plus a little pepper to make sure you really get hooked.
Start with any rectangular or oval butter cracker, like Townhouse, Club, or Ritz, then slap on a strip of bacon. As tempting as a nice thick piece of bacon might sound, thinner bacon actually works best for this recipe, since thick-cut bacon takes longer to crisp up and might make the crackers burn. Don’t be shy with the brown sugar–it helps to weigh down the bacon so it doesn’t curl up, and there’s no illusion that these bacon crackers are a health food anyways.
Some recipes for bacon crackers have you wrap the whole cracker in bacon. But we figured that this recipe is already so geniusly simple, why complicate it with an extra prep step? (Plus, these appetizers are so addictive that you’re going to want to make like 500 of them, and that’s a lot of bacon wrapping.)
There’s something kind of nostalgic about party bites like these (especially if you lay them out daintily on a tray like a ‘50s housewife). But at the same time, this bacon crackers recipe is so novel that it’s guaranteed to become a conversation starter–until everyone can’t talk because their mouths are stuffed with bacon crackers. These are tailgating food at its finest. But don’t wait for a gathering to make them, because they’d also be delicious with a cobb salad or soup.
Long after you bake these up in the oven, your kitchen is going to smell like you lit a maple baconscented candle. And would you have it any other way?

Bacon Crackers
Makes about 30 crackers
Prep Time: 5 minutes
Total Time: 25 minutes

  • 1 package butter crackers (like Townhouse or Club crackers, either rectangular or oval in shape)
  • 8-10 slices of bacon
  • 1 cup brown sugar
  • 1 pinch cayenne pepper
  • 1 pinch ground black pepper
Heat the oven to 350°F/175°C.
Line a baking sheet with parchment paper or aluminum foil.
Align crackers on a wire rack set into a lined baking sheet. (Leave a little space in between the crackers for the bacon, as it will hang over the edges of the crackers.)
Slice the bacon into thirds or fourths (depending on the length and shape of your crackers). Place a piece of cut bacon lengthwise on each cracker.
Sprinkle a generous amount of brown sugar on top of the bacon-topped crackers (about 1 heaping teaspoon per cracker). Then lightly sprinkle with cayenne and black pepper.
Bake 15-20 minutes or until brown sugar begins to melt and bacon becomes crisp. Allow crackers to cool on wire rack before eating.
Tell us the truth, did you even need to keep reading after you saw the word bacon, or were you already convinced that you were going to make this recipe? Let us know what else you like to put bacon on.

Recipe adapted from Debbie Doo’s

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