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!

Extra Cheesy Buffalo Chicken Quesadillas




An extra cheesy, crisp quesadilla that features the bold flavor of buffalo chicken wings.


Ingredients

1 lb boneless, skinless chicken breasts, cooked and then either diced or shredded
salt & pepper, to taste
1/4 cup buffalo sauce
4 large flour tortillas
4 tbsp butter, softened
1 1/2 cups shredded cheddar cheese
1 cups shredded mozzarella cheese
4 tbsp ranch dressing


Instructions

In a medium-large mixing bowl, toss the chicken with the buffalo sauce to evenly coat. Season with salt and pepper, to taste.
In a separate mixing bowl, add the cheeses and toss until evenly combined.
Heat a large skillet over medium heat. Just before you're ready to cook your quesadilla, spray the skillet with a tiny bit of nonstick cooking spray.
Working with one tortilla at a time, spread the outside of each evenly with a tablespoon of butter. Place a tortilla in the skillet and, working quickly, sprinkle about an 1/8 of the cheese evenly out over half of the quesadillas. Spread about 1/4 of the chicken mixture out over top of that half. Drizzle a tablespoon of ranch over top of the chicken, sprinkle another 1/8 cup of cheese evenly out over the top, and fold the quesadilla in half to 'close'.
Cook the quesadilla until golden and crispy on that side, about 2-3 minutes, but watching carefully. You can use a spatula to gently press down on the quesadilla, if you'd like it on the thicker, more uniform side, while cooking. Use two spatulas to carefully keep it closed and flip it to the other side to continue cooking, until that side's also golden and crispy.
Remove the cooked quesadilla to a cutting board to rest, and repeat with the remaining ingredients.
Use a sharp pizza cutter to into 3-4 wedges/slices, and serve with additional ranch dressing or buffalo sauce, as desired.

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