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!

Caramelized Onion, Goat Cheese, and Prosciutto Pizza

Caramelized Onion, Goat Cheese, and Prosciutto Pizza
Yield: 1 12-inch pizza
Have you been getting any summer reading done? I so wish I could read a couple of books on the beach but unfortunately I'm stuck reading indoors. At least our...
Have you been getting any summer reading done? I so wish I could read a couple of books on the beach but unfortunately I’m stuck reading indoors. At least our A/C is still working (fingers crossed that I didn’t just jinx myself). I’ve been reading a few cooking related books lately but just started Looking for Alaska by John Green since I enjoyed his other book The Fault in Our Stars so much. I need some more fiction books to get into so I’m open to recommendations!
I’ll be traveling a bit this month so I’m hoping to get more reading done. Unfortunately I tend to get motion sickness/headaches if I read on the plane. Does this happen to anyone else? It is such a huge bummer and I get so bored and claustrophobic just sitting there. Not to mention most airport food is a huge bummer. Every time I start getting whiny about flying, though, I make myself think about people who traveled in the past by long horse, boat, or train expeditions and I feel much better about my situation. Can you imagine being stuck on a boat for months and months? I’d die. There probably weren’t caramelized onion, goat cheese, and prosciutto pizzas back then which is even more depressing. This pizza is incredible and so easy to make, you’re going to love it! By the way, try saying prosciutto pizza ten times fast.

Recipe Rundown
Taste: Sweet, tangy, salty, earthy, and all around crave worthy.
Texture: The pizza dough is crisp and chewy while the toppings just go together perfectly.
Ease: Very easy, especially if you’ve made the pizza dough ahead of time (I like to freeze mine and defrost the dough overnight).
Appearance: Like a gourmet pizza from a restaurant!
Pros: Easy yet bursting with flavor.
Cons: None!!
Would I make this again? Oh yes.

Caramelized Onion, Goat Cheese, and Prosciutto Pizza
Recipe By Tessa
Yields 1 12-inch pizza

Ingredients
  • 1 ball pizza dough
  • 2 tablespoons olive oil
  • 4 ounces crumbled goat cheese
  • 1/4 cup caramelized onion (from about 1 large onion)
  • 3 thin prosciutto slices, torn into pieces
  • 1 teaspoon chopped fresh rosemary
  • 1 tablespoon high quality balsamic vinegar
  • Salt and freshly ground black pepper
Directions
  1. Place a pizza stone on the bottom rack of the oven and preheat to 450°F.
  2. Stretch and roll out your pizza dough on a floured work surface until as thin as possible without tearing. You should get about a 12-inch circle. If the pizza dough springs back, cover it with a clean kitchen towel and let it rest for 10 minutes before continuing shaping. Transfer the pizza to a parchment lined pizza peel or flat cookie sheet.
  3. Brush pizza dough evenly with the olive oil. Top with the goat cheese, onion, and prosciutto. Sprinkle with the rosemary and vinegar. Season to taste with salt and pepper.
  4. Bake the pizza for 10 minutes, or until the edges of the crust are golden.



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