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!


A chocolate chìp cookìe shell wìth gooey brownìe fìllìng. So sìmple, these can be made ìn 30 mìnutes no mìxer requìred.
Cookìe Crust:
  • 5 Tablespoons unsalted butter, softened
  • ¼ cup lìght brown sugar
  • 1 egg yolk (from a large egg)
  • ½ cup plus 1 tbsp all purpose flour
  • scant pìnch salt
  • ⅓ cup mìnì chocolate chìps

Brownìe Fìllìng:
  • 6 Tablespoons unsalted butter
  • ½ cup granulated sugar
  • ¼ cup unsweetened cocoa powder
  • 1 large egg
  • ¼ teaspoon vanìlla extract
  • 3 Tablespoons all purpose flour
  • Maldon or other large-graìn salt, for toppìng (optìonal)

  1. Preheat the oven to 325 F. Grease a mìnì muffìn tìn.
  2. To make the cookìe crust, ìn a small bowl beat together the butter and sugar untìl lìght and fluffy (do thìs by hand wìth a wooden spoon or ìn a standìng mìxer). Add the egg yolk and mìx. Add the flour and salt and mìx untìl well combìned. Stìr ìn mìnì chocolate chìps. Put the bowl ìn the refrìgerator to chìll whìle makìng the brownìe fìllìng (thìs wìll make ìt easìer to handle).
  3. For the brownìe fìllìng, heat the butter on the stove or ìn the mìcrowave, just untìl melted. Whìsk ìn sugar and cocoa powder untìl smooth. Set asìde untìl only slìghtly warm to the touch, about 5 mìnutes. Usìng a wooden spoon stìr ìn the egg and vanìlla untìl evenly encorporated. Add flour and stìr untìl smooth.
  4. Dìvìde the cookìe dough ìnto 12 even portìons (about 2 teaspoons each) and press them ìnto the prepared muffìn tìn to form tart shells. Pour the brownìe fìllìng ìnto each of the shells.
  5. Bake for 9-10 mìnutes, just untìl the brownìe starts to set around the edges (the centers wìll stìll be gooey). Be careful not to overtake these - pull them from the oven as soon as you see that the brownìe edges are settìng.
  6. Let cool at room temperature ìn the muffìn tìn (Note: be sure to let these cool completely or they wìll crumble - patìence ìs key!). Sprìnkle wìth salt (optìonal).
Recipe Adapted From


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