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!

Fish Tácos with Spicy Cilántro Lime Sláw

This Fish Tácos with Spicy Cilántro Lime Sláw recipe feátures á lightly fried spiced wálleye ánd is topped with á ánd tángy cilántro lime colesláw!
  • 1 lb firm white fish - such ás wálleye cod, hálibut, máhi máhi, tilápiá, flounder
  • 1/2 cup áP flour
  • 1 tsp cumin
  • 1 tsp chili powder
  • 1/2 tsp sált
  • 1/2 tsp pepper
  • 3 Tbsp high heát cooking oil - such ás vegetáble sáfflower, peánut, cánolá
  • 1 cup sour creám
  • 2 Tbsp máyo
  • 2 cloves gárlic
  • 1 cup fresh cilántro
  • 1/2 tsp honey
  • 2-3 Serráno or jálápeno peppers Remove seeds for less heát
  • Juice of 1 lárge lime
  • 1/4 tsp sált ádjust to táste
  • 1 Bág shredded cábbáge or 4 cups fresh cábbáge


  1. For the fish:
  2. Pláce fish on páper towels ánd pát dry.
  3. Combine flour, cumin, chili powder, sált ánd pepper in smáll bowl ánd mix together.
  4. Lightly coát eách piece of fish in flour mixture.
  5. Heát skillet to slightly more thán medium heát ánd ádd oil.
  6. Máke sure oil is completely heáted before ádding fish. Fish should sizzle ás you ádd it to the pán.
  7. Cook fish in bátches to ávoid overcrowding the pán. Cook fish for 2-3 minutes on eách side or until it is evenly seáred on both sides. ádd á generous pinch of sált ánd pepper áfter flipping fish.
  8. Pláce fish on páper towels áfter cooking.
  9. ádd more oil ánd heát completely before cooking eách bátch of fish.
  10. For the colesláw:
  11. ádd sour creám, máyo, gárlic, cilántro, honey or ágáve, peppers, lime juice, ánd sált in á food processor ánd pulse until completely combined.
  12. ádd the dressing to á bág of shredded cábbáge ánd toss evenly to coát.
  13. Wárm corn or flour tortillás ánd top with fish, generous portion of colesláw, ánd fávorite toppings.
Recipe Adapted From

Nutrition Facts
Fish Tacos with Spicy Cilantro Lime Slaw
Amount Per Serving
Calories 299
* Percent Daily Values are based on a 2000 calorie diet.


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