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!


This Italian sausage and White Bean Skillet is so extremely versatile that I wanted to give you a few variations. I decided to go with a “one skillet” and low-er carb version because those recipes seem to be quite popular lately, but you can lower the cost and stretch this meal out by replacing some of the sausage, beans, or spinach with 8oz. of cooked pasta, preferably orecchiette, which is a flat, disk-like shape. If you can’t find spinach for a low price like I did (thank you, Aldi!!), you can cut the amount of spinach in half and still have a great dish, or use frozen chopped spinach.
It doesn't get easier than this high protein, high fiber, high FLAVOR Italian Sausage and White Bean Skillet! 
  • 1 lb. Italian sausage (hot, mild, or sweet) $3.49
  • 1 Tbsp olive oil $0.13
  • 2 15 oz. cans cannellini beans* $1.10
  • 8 oz. spinach $1.49
  • Freshly cracked pepper $0.05
  1. Remove the casing from the sausage and add the sausage to a large deep skillet, or wide bottomed soup pot, along with the olive oil. Sauté the sausage over medium heat, breaking it into pieces as you go, until the sausage is cooked through, brown, and crispy on the edges (about 10 minutes).
  2. While the sausage is cooking, rinse and drain the cannellini beans. Once the sausage is brown and crispy, add the beans and some freshly cracked pepper to the skillet. Gently stir the beans into the sausage to coat them in the fat, and allow them to heat through.
  3. As the beans are heating through, roughly chop the spinach. Add the spinach to the skillet or pot in batches, gently stirring it into the sausage and beans until it wilts down. Once the spinach is mostly wilted, turn the heat off. Taste the mixture and add salt if needed (this will depend on the salt content of your sausage and beans). Serve hot.
*Cannellini beans are the preferred white bean for this recipe because they are large, firm enough to hold their shape when stirred into the skillet, and have a wonderfully creamy flavor.


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