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!


Tourtière is a Canadian meat pie popular during the winter holiday season, especially on Christmas Eve. In the Quebec region, it is served as a part of Reveillon, dinner following Midnight Mass on Christmas Eve. The fillings may vary based on the region. Along the coast, fish such as salmon is often added. Further inland, game meat is a common addition. In this version, meat (pork and beef) is seasoned with onion, garlic, parsley, allspice, cinnamon, and cloves and baked inside a flaky pie crust.
Tourtière (Canadian Meat Pie)
Prep Time: 1 hour
Cook Time: 25 minutes
1 pie

  • 1 2/3 cups all purpose flour
  • 1 teaspoon salt
  • 6 tablespoons unsalted butter, cold
  • 4-6 tablespoons ice water
  • 1 tablespoon olive oil
  • 1/2 pound ground pork
  • 1/2 pound ground beef
  • salt and pepper to taste
  • 1 medium yellow onion, diced
  • 2 garlic cloves, minced
  • 1 tablespoon fresh parsley, chopped
  • 1/2 teaspoon allspice
  • 1/2 teaspoon cinnamon
  • 1/4 teaspoon ground cloves
  • 1 cup beef or chicken stock
  • 1/4-1/2 cup breadcrumbs
  • 1 egg yolk
  • 1 tablespoon water
  1. In a medium bowl, combine flour and salt. Dice the butter and cut into the flour using a dough blender, forks, or your fingers. Using a fork, slowly mic in 4 tablespoons water. If needed, add up to 2 tablespoons more water to bring dough together. Knead just until smooth, form into a ball, wrap in plastic, and refrigerate at least 30 minutes.
  2. In a large skillet, drizzle oil over medium heat. Once heated, add pork and beef. Season with salt and pepper. Cook, breaking up the meat into small pieces, until browned. Stir in the onion, garlic, parsley, allspice, cinnamon, and cloves. Cook, stirring often, until onions are softened, 5-10 minutes. Stir in the stock and cook until reduced, another 5-10 minutes. Add enough breadcrumbs to absorb the stock. Adjust spices as needed, remove from heat, and let cool.
  3. Preheat oven to 350 degrees F and butter a pie pan.
  4. Split the refrigerated pie crust into 2 pieces, one piece a little larger than the other. Roll the larger piece into a circle wide enough to cover the bottom and sides of pie pan. Place in pie pan and evenly add cooled meat filling. Roll out the smaller piece to cover the top. Trim excess crust and seal the edges. Cut out a hole in the center of the crust to release steam while baking.
  5. In a small bowl, beat egg yolk with water. Brush over top of pie. Bake in preheated oven until top is golden, 25-30 minutes. Let cool 5-10 minutes before slicing and serving.
Adapted from Cooking Melangery


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