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!

Maple Bacon Pancakes

Maple Bacon Pancakes

Sundays are always our laziest days, but they’re also our most ritualistic. We make our way out of bed slowly, then down to the kitchen to cook up a big breakfast and tune in to the Sunday shows. Mark usually runs to the store, because no matter how many times we make the same waffles or pancakes we never seem to be fully prepared (the secret is that when he has to go out, he usually brings back coffee… so why would we ever prepare?).
We usually make the same few things… waffles with strawberries and whipped cream, banana or some kind of berry pancakes, or lately, well… these.

Now before you start cursing me do take notice of the applesauce that has been dutifully substituted for oil, and of course the whole wheat option… plus the cottage cheese has to count for something.
Then go ahead and add a pound of bacon, a pad of butter, and a generous helping of maple syrup and curse away.
It’s okay, it’ll be worth it.

Maple Bacon Pancakes
Adapted from Better Homes and Gardens

Ingredients
  • 6-8 pieces bacon, cooked and chopped into small pieces
  • 1 3/4 cups all-purpose white or whole wheat flour
  • 2 tablespoons granulated sugar
  • 1 tablespoon baking powder
  • 1/4 teaspoon salt
  • 1 egg, slightly beaten
  • 1 1/2 cups milk
  • 3 tablespoons applesauce
  • 1/2 cup cottage cheese
  • 1/2 teaspoon vanilla extract
  • 1 tablespoon maple syrup
Directions: 
  1. Cook bacon and chop into small (~1/4 inch) pieces, set aside.
  2. In a large bowl stir together flour, sugar, baking powder, and salt. In another bowl use a fork to combine egg, milk, and applesauce. Add egg mixture all at once to flour mixture. Stir just until moistened (batter should be slightly lumpy). Stir in cottage cheese, vanilla, and maple syrup.
  3. For standard-size pancakes, pour about 1/4 cup batter onto a hot, lightly greased griddle or heavy skillet, spreading batter if necessary. For dollar-size pancakes, use about 1 tablespoon batter. After batter is spread, cover with chopped bacon, then flip. Cook over medium heat for 1 to 2 minutes on each side or until pancakes are golden brown, turning to second sides when pancakes have bubbly surfaces and edges are slightly dry. Serve warm, topped with more bacon and syrup. Makes 12 standard-size pancakes or 40 dollar-size pancakes.



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