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!

SPARKLING WHITE PEACH SANGRIA

SPARKLING WHITE PEACH SANGRIA
SPARKLING WHITE PEACH SANGRIA IS A GREAT BRUNCH OR SUMMER COCKTAIL! MAKING IT AHEAD MAKES IT A GREAT RECIPE FOR A PARTY AND THE TASTE IS FANTASTIC!
SPARKLING WHITE PEACH SANGRIA
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I made this sangria the other day with Easter in mind. I love when spring hits and we start looking at colorful bright things. We’ve been having a really dark and rainy winter this year in Portland so I think I’m even more ready than normal for spring and everything that comes with it, except for the showers, I’ve had enough of those.  Peaches really aren’t in season yet but I was able to make this sangria using really good quality frozen peaches. It really worked well. I also used frozen raspberries to save on the cost of buying them in the offseason. I love all the fresh berries we have here in Oregon in the summer and can’t wait to get outside and pick them again this year.
So, anyway, I made this sangria and my husband and I went out back to our deck to soak up the sun during a short break in the rain. We were walking down the steps of the deck to our side yard to inspect and plan the yard for the summer. I was holding my glass of Sparkling White Peach Sangria, took my first step onto the first step and whoosh! I went flying up into the air and came down on my back on the stairs. I was fine, some bruises and maybe a broken pinky. How on earth did I break my pinky falling on the stairs? I used it to cushion the impact of my glass of sangria! It was too good to waste! So you know you have got to try this drink if I’m willing to sacrifice my pinky finger to save it!
We have made quite a few sangrias in the past and one of my favorites has always been White Peach Sangria. I wanted to try to make something as great but that I could serve at brunch. I think it’s pretty fantastic that all you have to do is add champagne to a drink and it’s totally acceptable to have it with breakfast!!! Sangrias are the greatest party drink in my opinion! Everyone loves the taste and you can make a big pitcher the day before a party and you’re good to go! This Easter you’ve got to make Sparkling White Peach Sangria and relax with your family or even this summer on those warm, lazy weekend mornings!

Sparkling Peach Sangria
Sparkling Peach Sangria is a great brunch or summer cocktail! Making it ahead makes it a great recipe for a party and the taste is fantastic!
Course Cocktail
Prep Time 1 hour
Total Time 1 hour
Servings 6 -8
Author Aubrey Cota

Ingredients
  • 3 cups sliced peaches*
  • 2 cups raspberries*
  • 750 ml Pinot Grigio wine
  • 1 cup simple syrup**
  • 1 cup peach schnapps
  • 1 bottle champagne
Instructions
  1. add fruit to a large pitcher
  2. pour the wine, simple syrup and peach schnapps into the pitcher and stir
  3. allow to sit for at least 1 hour or over night in the fridge
  4. pour equal amounts of the wine mixture and champagne into a glass when ready to server
  5. enjoy!
Recipe Notes
*Frozen if fruit is not in season
**Equal parts water and sugar heated in a saucepan until sugar has dissolved, then mixture is cooled

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