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!



Boxed brownie mix + a 3 ingredient cream cheese topping. It doesn't get any easier than this!

  • 1 box brownie mix
  • 8 oz cream cheese softened
  • 1 egg
  • 1/4 cup sugar
  1. Prepare the brownies as directed by the box.
  2. Reserve about a cup of the brownie mix before pouring the rest into a greased 9×9 dish.
  3. In a separate bowl, blend together the cream cheese, egg and sugar mixture.
  4. Pour the cream cheese mixture across the surface of the brownie mix.
  5. Pour the reserved brownie mix over the cream cheese. It doesn’t have to be neat- you’re going to do the swirls after this.
  6. Using a toothpick or knife, gently swirl the cream cheese mix around into the mix.
  7. Bake for the amount of time directed on the box + 25 minutes*
I don’t like the cream cheese topping to be TOO sweet, so I used 1/4 cup of sugar. If you’re unsure, mix together the cream cheese and sugar FIRST, then taste it. Add more sugar if you’d like. Then mix in the egg.
It made 9 brownies because I used a 9×9 dish for majorly thick brownies. You can just as easily do it in a 13×9 dish, just use two brownie mixes and double the cream cheese mixture.
The cream cheese topping added about 25-30 minutes to the box recommended cook time because the brownies were so thick. I would cook it for a little over what the box says, and check it. If you’re worried about the top getting too cooked, simply tent some foil over the top.


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