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!

Blood Orange Margaritas

blood orange margaritas
Is everyone on vacation without you? Are your social media feeds one big blur of the freckled faces of people you once thought you loved basking in the Caribbean sun, showing unintentional contempt for you, back here, shivering and damp? Do your so-called friends in warmer climes gush about pea tendrils and new artichokes while your local market has shriveled roots that last saw the unfrozen earth in October? Of last year? Maybe, just this one time, an exception should be made and a tidy, brief pity party would be acceptable. I have just the elixir.
blood oranges
freshly squeezed blood orange juice

You may not be in the tropics, but glass-for-glass, we can fake it. You may not have fresh coconuts overhead and sweet mango and papaya slices on your breakfast plate, but if we hurry, we can grab onto the tail end of blood orange season and squeeze it into something better.
the prettiest thing
putting the 3 year-old to work
Things might get awkward, however, if you have a three year-old. “What that, mommy?” he might ask as he sleepily wanders in from his rare (but wildly applauded) nap and you’ll explain that you’re making orange juice from special red oranges and you’ll realize by the look on his face that your child — you, a person that turns flour into bread, potatoes into pasta, sugar into caramel — hadn’t realized that orange juice didn’t come in a carton and to fend off the feelings of failure, put him to work and pour him a glass of something he found so outstandingly delicious, you all but forgot about that Pity Party you were planning.
lime juice
fancy fixings because we ran outta the cheap stuff

No need to. Stow what’s left of the orange juice in the fridge until after he goes to bed, and then pull down the (admittedly dusty) Triple Sec and tequila, and see if you can dig up some passable limes from the fridge. Get some ice cubes and a tall glass. If you’ve been hanging onto any tacky drink umbrellas, this is the time to bust them out. Measure, pour, mix and sit back, close your eyes, imagine yourself on a deserted beach where you are completely unable to remember what you were feeling grumpy about. Happy weekend!

blood orange margaritas

Blood Orange Margaritas
It’s been over seven months since the last SK drink recipe. Let’s fix that.
Note: If you don’t have triple sec or cointreau, simple syrup will make for an equally sweet but less boozy result.
Serves 2, but only if you share.
1/2 cup blood orange juice
2 tablespoons freshly squeezed lime juice
3 tablespoons triple sec or cointreau, or more to taste
7 tablespoons white or “silver” tequila
Lime or blood orange slices for garnish, plus some of those drink umbrellas

Mix. Fill two glasses with ice and divide between them. Garnish. Drink and daydream.


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