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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!

Porch Swing

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porch swinging

I know, I know, “Deb, what’s up with putting up a summery cocktail recipe a day after a blissfully long holiday weekend?” Ah, but I think you’re coming at this all wrong; this drink is, in actuality, three days early for next weekend.
bag of lemons
to be squeezed

Or, perhaps, 365 days late for the last time I waxed clumsily poetic about this drink, denied access to it for the duration of a summer pregnancy. It’s nothing short of summer in a glass. It tastes like lemonade. It tastes like iced tea. There are crisp cucumber slices and a splash of 7-Up (for some low-brow fizz, you know?) in a tall glass with ice cubes and if that has not convinced you — and seriously, how did that not convince you? — hopefully its name will.
squeezed and squeezed
paper-thin cucumber slices
It’s call a Porch Swing and they make it at a the St. Louis/Kansas City/Memphis/North Carolina/Texas-styled barbecue restaurant called Blue Smoke. Back in the days when I used to work nearby and was not up at the crack of dawn and nodding off by 9:30 p.m. daily, sometimes we’d drop by on a weekday night just because we could and I’d order the iceberg wedge and a pulled pork sandwich and one of these. We’d sit back and imagine wrap-around porches with creaky old swings and overgrown lawns and hot weather that was somehow more bearable because it was chased by a breeze. I sort of can’t get over how lazy our lives were back then and I won’t lie, I miss it terribly some days. Just maybe not yesterday, a day which began with me cracking up over my husband completing his third Rescue Mission of the day as this tiny human that has been assigned to us had slid himself under a piece of furniture and gotten his 95th percentile head stuck again and ended with a heat wave-canceling Porch Swing reunion. It had been way too long.
porch swings


Porch Swing

A Blue Smoke cocktail; recipe from Gael Greene’s site

It had been so long since I’d had one, I’d forgotten that I find them a little, tiny bit sweet. You may not; my husband didn’t, I just don’t like very sweet drinks. The next time I make this, I’ll make a more tart lemonade and have made the suggestion of how you can, below; I am sure that will do the trick.
I cannot remember if the original has ice cubes in it but I think it makes the drink more refreshing so I’ve added them in.
Note: This is very close to a traditional “Pimm’s Cup” recipe with one major change, the addition of gin. Pimm’s No. 1 is made in part with gin, so it is not usually added but oh, I like it this way..
1 1/2 ounces (3 tablespoons) gin (Hendricks is specified; Tanqueray was used)
1 1/2 ounces (3 tablespoons) Pimm’s No. 1 liqueur (what’s Pimm’s?)
4 ounces (1/2 cup) homemade lemonade (recipe below)
7-Up or another lemon/lime soda
10 paper-thin half moon slices of cucumber (I used an “English”, unwaxed, cucumber)

Pour gin, Pimm’s and lemonade into tall Collins glass, then add a few ice cubes and a splash of 7-Up. Finish with cucumber slices.
Lemonade
1 part freshly squeezed lemon juice
1 part simple syrup, or to taste (I will use perhaps 1/2 or 3/4 of a part next time, see Note above)
2 parts water

Make simple syrup: [Please don’t buy it. I see it in stores and it vexes me.] Simmer one part water with one part sugar (I did a cup of each and ended up with about 1 1/2 cups simple syrup) until sugar has dissolved. Let cool. Or, you can use my speedier method where you simmer one part sugar with half as much water and once it has dissolved, add the second half of the water, cold, which cools the mixture down faster (when you like nothing to slow your pace to the nearest drink).

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