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!


This is not your traditional black eyed peas recipes. These black eyed pea cakes are loaded with bell peppers, herbs and spices and fried until golden brown.

It never fails, unless The Husband is running around at work with his hair on fire he will always call or text me around lunch time to ask how my day is going.  Yes, I married a very considerate man.  But I do think his check-ins come with an ulterior motive.  Because you see, once he has patiently listened to whether my day is going smoothly or an absolute wreck, he always follows with the same question.
Not your traditional black eyed peas recipe. These black eyed pea cakes are loaded with bell peppers, herbs and spices and fried until golden brown.

  • 1 pound fresh or frozen black-eyed peas
  • 3 slices bacon coarsely chopped
  • 2 cloves garlic minced
  • ½ cup minced white onion
  • ½ cup chopped green bell pepper
  • ½ cup chopped red bell pepper
  • 1 tablespoon finely chopped fresh parsley
  • 1 teaspoon finely chopped fresh basil
  • ¼ teaspoon cayenne pepper
  • 1 teaspoon kosher salt
  • ½ cup heavy cream
  • 1 ½ cups all-purpose flour
  • 1 large egg
  • ½ cup buttermilk
  • 3 cups panko bread
  • 1/2 cup vegetable oil

  1. Bring about three cups of water to a boil in a medium saucepan over medium high heat. Add the peas and additional water if needed to completely cover the peas. Return to a boil, then reduce heat and simmer for 30 minutes or until peas are tender. Drain peas and set aside to cool.
  2. In the meantime, heat a large skillet over medium high heat. Add the bacon and fry until the bacon is brown and crispy. Remove the bacon from the pan, reserving the grease, and set aside.
  3. Add the onion and peppers to the reserved bacon grease and sauté until the vegetables are tender. Add the garlic and sauté until fragrant, about 30 seconds to 1 minute more. Remove vegetables from heat and allow to cool.
  4. Transfer half of the cooled peas to a large bowl or a food processor. Mash with a potato masher or process in a food processor until peas are the consistency of a chunky puree. Add the reserved peas, vegetables, parsley, basil, cayenne pepper, salt, and cream. Stir until well-combined. Refrigerate for at least one hour.
  5. Set up a workstation to coat the cakes. Place flour in one shallow bowl, combine the egg and buttermilk in another, and the bread crumbs in another.
  6. Heat vegetable oil in a large skillet over medium high heat
  7. Scoop out about ¼ cupfuls of the pea mixture and form into balls with your hands. Completely coat the balls with the flour, then form into a patty. Coat the patty in the egg/buttermilk mixture, then coat in the breadcrumb mixture.
  8. Working in batches, fry patties until golden brown, about 2-3 minutes per side. Allow to drain on a layer of paper towels.


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