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
Blood Orange Season (Kind of a Big Deal)Fair warning: if you have a foodie friend in your life, it's likely that they're totally and utterly obsessed with blood oranges. Like, blood orange all the things! 
Blood Orange Margaritas
Homemade margaritas made with fresh blood orange juice, limes, raw honey, and 100% agave silver tequila. This drink recipe looks beautiful (blood oranges give it a wonderful hue) and goes down easy! 
Yield: 1 medium or 2 small servings

  • Juice from 2 blood oranges (approximately 1/4 cup)
  • 1 tablespoon of raw honey OR simple syrup
  • Juice from 2 small limes (approximately 4 tablespoons)
  • 2 ounces of silver 100% agave tequila 
  • 1 ounce of Grand Marnier, or another orange liqueur (optional)
  • Splash of carbonated water (optional)
  • Coarse sea salt, for the rim
Note: This recipe is very adaptable, so feel free to change the ratios of orange juice, lime juice, honey, and tequila to suit your personal taste. If you a more tart flavor, add more lime. Want it sweeter? Try extra blood orange juice or honey. 
Recommended Equipment
Stainless Steel Cocktail shaker
Or if you're really cool, a Mason Jar Shaker

  1. Pour a circle of coarse salt into a small plate or saucer. Rub a lime or blood orange wedge around the rim of your glass (or dip the rim into a small bowl of citrus juice) and press the glass' rim into the salt, twisting the glass around slightly until there's a small coating of salt around the rim. Fill your glass with ice and set aside.
  2. In a separate container, mix the tequila, orange liqueur, lime juice, and blood orange juice. If you're using fresh fruit, make sure to roll the oranges and limes out on the counter with the palm of your hand to redistribute the juices before cutting them open. Measure in the raw honey (do not heat it) and stir until combined. It may take 30-60 seconds to dissolve, possibly longer if the OJ and tequila are chilled.
  3. Optionally, top off the drink with a splash of carbonated water. If you want it extra cold, shake the margarita over ice before pouring into the salt-rimmed glass to serve.


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