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!


These soft Pumpkin Chocolate Chip Cookies are a favorite cookie in our house. Add this homemade pumpkin cookie to your fall baking plans ASAP! Trust me, they will not last long!

This week I baked another batch of these pumpkin cookies in our kitchen. These cookies are a must make for me every single fall.

Each year, as fall starts to get close, I start to crave these soft pumpkin cookies, and then I have to bake a few batches for our cookie jar. Thank goodness for being able to give away the leftovers to friends this time.

I love them so much that I try to keep an extra can of pumpkin in our pantry, just in case the urge for the best Pumpkin Chocolate Chip Cookies hits me in the middle of February. Please tell me I’m not alone in my love for eating pumpkin treats all year long.

I realize not everyone likes pumpkin desserts. Of course, I just can’t wrap my head around that kind of flawed logic!

Baking with pumpkin always makes me happy! Of course, eating said pumpkin makes me even happier.

Things like this Pumpkin Cheesecake Brownie Pie or Pumpkin Oreo Cheesecake happen every fall in our house.

My motto is to pumpkin all the things during the fall months! I say bring on the orange goodness in all forms!!!

Nothing is safe from my pumpkin quest. We eat it in pies, cookies, muffins, bread, donuts, cake, and soup!

Speaking of soup, now I’m totally craving a big bowl of this Pumpkin Potato Corn Chowder for dinner tonight.

Tips for making Pumpkin Chocolate Chip Cookies:

Mix together the sugars and oil until it looks like wet sand. Add in the pumpkin puree, egg, and vanilla and mix again.

Stir together the flour, spices, baking powder, salt, and baking soda. Slowly mix the dry ingredients into the sugar mixture.

Add 3/4 cup chocolate chips to the batter gently. You can also add some chopped walnuts, if you like. Or change it up and use a mixture of different baking chips. I’ve done butterscotch and it’s delicious!

Use a tablespoon to drop spoonfuls of cookie batter onto baking sheets. Use the back of the spoon or your finger to smooth the tops out slightly.

Press a few chocolate chips into the tops of the batter before baking. Bake for 10 minutes.

Let the cookies cool on the pan for two minutes before moving them to a wire rack or parchment paper to cool completely.

Store these easy Pumpkin Chocolate Chip Cookies in a loosely sealed container. If you have any left that is. One bite of these soft pillowy cookies and they just might disappear before you can hide a few for later.

More pumpkin recipes you may like:
Pumpkin Spice Latte Cupcakes – soft pumpkin spice cupcakes with a light white chocolate coffee frosting is a must make
Cinnamon Roll Pumpkin Cake – a swirl of cinnamon sugar makes this pumpkin cake taste amazing
Pumpkin French Toast Bake – this easy fall breakfast bake can be made ahead of time for busy mornings
Pumpkin S’mores Bars – soft pumpkin bars topped with gooey melted marshmallow and chocolate for the fall dessert win
Chocolate Pumpkin Cheesecake – chocolate bars and pecans make this pumpkin cheesecake taste irresistible

PREP TIME20 minutes
COOK TIME10 minutes
TOTAL TIME30 minutes

1 cup canned pumpkin puree
1/2 cup brown sugar
1/4 cup sugar
1/2 cup oil
1 egg
1 Tablespoon vanilla extract
2 cups flour
2 teaspoons baking powder
3 teaspoons cinnamon
1 teaspoon nutmeg
1/2 teaspoon salt
1 teaspoon baking soda
2 cups chocolate chips, divided
1/2 cup chopped walnuts, optional

Preheat the oven to 350 degrees.
Combine the pumpkin, sugar, oil, egg, and vanilla in a large mixing bowl.
Stir together flour, baking powder, cinnamon, nutmeg, salt, and baking soda. Add the flour mixture slowly to the pumpkin mixture & mix well. Stir in 1 1/2 cups chocolate chips and the walnuts.
Use a tablespoon to drop spoonfuls onto a baking sheet. Use the back of the spoon or your finger to smooth out the tops slightly.
Top the cookie dough with the reserved chocolate chips. Bake for 10 minutes.
Let the cookies cool on the pan for 2-3 minutes, then remove to a wire rack to cool completely. Store in a sealed container.


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