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!


Easy red enchiladas filled with seasoned ground beef and a blend of cheddar and monterey jack cheese. These flavorful enchiladas are always a hit!
Fill with the seasoned beef and a sprinkle of cheese. I prefer to use a blend of freshly grated cheddar and monterey jack. It’s the best! Roll them gently and place them into the prepared baking dish. Pour any of the remaining sauce over top, then sprinkle with the remaining cheese.
We love these with a dollop of sour cream and scoop of guacamole. I like to serve them with a side of black beansand rice. These easy red enchiladas are a family favorite. The kids love them and so do we!
Easy red enchiladas filled with seasoned ground beef and a blend of cheddar and monterey jack cheese. These flavorful enchiladas are always a hit!

  • 2 tssp. olive oil
  • 1 lb. lean ground beef
  • 1/2 yellow onion, diced
  • 1 1/2 tbsp. chili powder
  • 1 tsp. garlic powder
  • 1/4 tsp. cumin
  • 2 (10 oz.) cans red enchilada sauce*, divided
  • 8 corn tortillas, raw or fried**
  • 1 1/4 c. grated cheddar cheese
  • 1 1 /4 c. grated monterey jack cheese
  • 2 green onions, sliced
  • 1 (2.25 oz) sliced olives, drained
  • 1 tbsp. freshly chopped cilantro

  1. Preheat oven to 375 degrees. Lightly spray a 7×11 casserole dish with cooking spray, set aside.
  2. In a large skillet set over medium heat, add the olive oil. When the oil is hot, add the beef and break up. Add onions and seasonings, cook until the beef is browned. Pour in 1/3 cup of enchilada sauce to the pan and stir to combine. Remove from heat and set aside.
  3. Pour the remaining enchilada sauce into a pie dish. Coat enchiladas one at a time, then fill with beef and a sprinkle of cheese. Roll up and place into the prepared baking dish. Repeat until all of the filling is gone. You may need one or two more tortillas depending on how full you fill them.
  4. Pour leftover enchilada sauce over top, then sprinkle with remaining cheese, green onions, and 0lives.
  5. Cover with aluminum foil and bake for 20 minutes, then remove foil and continue baking for an additional 10 minutes.
  6. Remove from the oven and let rest for 10 minutes before serving. Sprinkle with cilantro, if desired.
  7. * I like to use a can of mild and a can of medium.
  8. **Frying the tortillas in an inch of canola oil makes them even more amazing- just make sure to pat any excess oil off.


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