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!

Easy, No-Knead Dutch Oven Crusty Bread

Easy, No-Knead Dutch Oven Crusty Bread
I have always wanted to make bread, but have been scared of it. I'm the girl who didn't own a rolling pin until recently - I had been known to roll things out with a wine bottle... But after receiving a Kitchen Aid Mixer for my birthday, I decided it was time to tackle another item on my cooking bucket list... bread. I read through a bunch of recipes and bought bread flour and yeast at the supermarket. Baby steps. 
Then I came across a recipe for a no-knead crusty bread using a Dutch oven to bake it. Really? It seemed too good to be true. I wouldn't even need to use my mixer. 
I sat on the couch for a while reading and re-reading the recipe, and finally worked up the nerve to go in the kitchen and make the dough. It was 9 PM on a Saturday night (crazy night, huh?) and I was going to make dough for my first loaf of bread. 
I wouldn't lie to you - this bread is seriously the easiest thing to make. If I can make this, so can you. 
First you mix up the dough ingredients, put it in a bowl and cover tightly with plastic wrap so the magic can happen. Make sure to store it in a warm place (if it is too cold it will not rise properly). I was so protective of this dough that I took it up to our bedroom and set it on my dresser since we turn the heat down really low downstairs at night. I was not taking a chance! 
The next morning I got up to see that the dough had risen. About an hour and a half before I was ready to eat dinner (and enjoy the bread), I turned it out onto a floured surface, and it looked like this. 
I floured my hands to form it into a large ball, and was a little nervous at the sticky texture, but the recipe assured me that it was just right. After rolling and forming (note - not kneading), it looked like this - 
At this point you cover it with plastic wrap while your Dutch oven preheats. Then you put it in the oven and let it bake. That's IT. 
Knowing of my past baking mishaps and how I don't like to measure, my husband had low expectations. But then we sliced into the bread and it was perfectly - PERFECTLY - crusty on the outside and airy and soft on the inside. I don't even remember what dish I served this with. Honestly, I could have eaten the bread alone and been happy. 
Although I still want to try some "harder" bread recipes, this was the perfect recipe for my first time, and I can't wait to make it again. It's so easy that I don't think I'll ever need to write the words "crusty bread" on my shopping list again. 
No-Knead Crusty Bread
Source: The Comfort of Cooking

  • 3 cups all-purpose flour
  • 2-3 teaspoon kosher salt
  • 1/2 teaspoon dry yeast (active dry or highly active dry work best)
  • 1 1/2 cups lukewarm water
  • Special cookware needed: Dutch oven or any large oven-safe dish/bowl and lid*
  1. In a large bowl, stir together the flour, salt and yeast.
  2. Add the water and stir using a wooden spoon until the mixture forms a shaggy but cohesive dough.
  3. Cover bowl tightly with plastic wrap. Let dough sit at room temperature for 8-24 hours. Dough will bubble up and rise.
  4. An hour and a half before you want to eat the bread, preheat oven to 450 degrees F. Place your Dutch oven, uncovered, into the preheated oven for 30 minutes.
  5. While your Dutch oven preheats, turn dough onto a well-floured surface and, with floured hands, form the dough into a ball. Cover dough loosely with plastic wrap and let rest.
  6. After the 30 minutes are up, carefully remove Dutch oven. With floured hands, place the bread dough into it.
  7. Bake for 30 minutes covered. Remove cover and bake for 7-15 minutes more, uncovered (just keep an eye on it as cooking times will vary).
  8. Remove the bread and place on a cutting board. Slice and serve!


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