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!

best ever oven bbq ribs

best ever oven bbq ribs
Best Ever Oven BBQ Ribs are moist, fall off the bone pork, smothered in a crispy, caramelized BBQ sauce. Slow cooking in the oven leaves the ribs with a perfect “bite” that is totally worth the wait!
  • 1 Full Slab Baby Back Pork Ribs (1-1/2 to 2-1/2 pounds)
  • 2 cups BBQ Sauce
  • 3/4 cup Brown Sugar
  • 1 Tablespoon Paprika
  • 1 Tablespoon Garlic Powder
  • 1 Tablespoon Smokehouse Maple Seasoning
  1. Preheat the oven to 300 degrees.
  2. In small bowl, create a rub of 3/4 cup brown sugar, and 1 Tablespoon each of Garlic Powder, Paprika and Smokehouse Maple Seasoning
  3. Remove the tough membrane from the back of the ribs. The easiest way is to get one end started, grip the membrane tightly with paper towel, and tear completely off. Rinse and dry the ribs thoroughly.
  4. Using a large baking pan, place the ribs on a large sheet of heavy duty foil, or two large sheets of regular foil.
  5. Using the rub, apply 1/2 to the meaty side of the ribs, rubbing into the meat. Turn the meat over, meaty side down, and apply the other 1/2 of the rub to the bone side. Rub all over, including the
  6. sides and bones of the ribs.
  7. Place a second sheet of heavy duty foil on top of the ribs, and seal the top and bottom foil into a packet around the ribs. Place into preheated oven and bake for 2 hours, or until the meat is pulling away from the bone.
  8. Open up the foil and cut the ribs into serving size pieces. Cover one side of the ribs with BBQ Sauce and place uncovered back in the oven for 10 minutes.
  9. Remove the ribs from the oven, turn the ribs over on the baking pan, coat second side with BBQ Sauce and place uncovered back in the oven for a final 10 minutes.
  10. Plate the ribs with your favorite side dish and serve hot!
Notes – McCormick Grill Mates brand Smokehouse Maple Seasoning was used for this recipe.
Note – each serving is approximately 3 ribs

Recipe Adapted From


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