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!

Tasty Bagel Sandwich Ideas


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Simple cream cheese and bagel sandwiches are absolutely great for breakfast, but they aren't just for breakfast anymore. Bagels are just the right size for a light lunch or afternoon snack if you're in that 4 p.m. slump and in desperate need of some fuel to last until dinner at 7.


They are even a tasty option for dinner if you are in a hurry or are eating solo and want something that soothes your hunger but you don't want to go to much trouble and you also want it to be healthful. That's a tall bill to fill, and bagel sandwiches can do it with pizzazz. Check out this list for some yummy ideas on ways to dress up your basic bagel to eat no matter what time of the day it is. And if you're serving lunch to a friend, these are even fancy enough to be proud of.

When you think about open-faced bagel sandwiches, lox, or smoked salmon, probably comes to mind. Now take that mental image and keep all of its deliciousness but swap out the smoked salmon for fresh slices of tomato (if it's homegrown season) and add everything bagel seasoning to help make this open-faced sandwich even more next level. The cream cheese is great as-is, but if you're feeling a little bit more adventurous, add some chopped cucumber and fresh mint. You could even add some turkey on top for a little bit more protein. The possibilities are endless.


Whether you're into smoked salmon, lox, or gravlax, this open-faced salmon bagel sandwich will blow your mind. Pickled red onions not only add an unexpected pop of color, but they also add a nice vinegary bite that helps lighten up the smokiness of the salmon. The capers add a salty depth to the sandwich, while the scallions add a nice, mild oniony bite.


The goodness doesn't have to stop there, either. To make this already mind-numbingly delicious sandwich even more opulent, add some bright red mullet roe or deep dark sturgeon caviar to the cream cheese. Why not go all out and add edible gold flakes to the top? (Just kidding.) You totally don't have to go that far. Be honest, this is a killer sandwich on its own in the looks and taste department. One word of advice though: Be sure that you're using really top- quality ingredients for this sandwich because it makes all the difference.


You can even have bagel sandwiches for dessert. For a sweet take on a bagel sandwich, check out this blistered blueberry grilled cheese with mascarpone and brie. Sweet and tart blistered blueberries and earthy basil cut through the rich creaminess of the mascarpone and brie while the bagel acts as a unique encasing for this delicious dessert grilled cheese.



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