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!

Pesto, Mozzarella, Baby Spinach, Avocado Grilled Cheese Sandwich

This is a fresh herb pesto with the standard Green Goddess herbs, plus a sneaky handful of kale (which is now going to be a staple condiment in our kitchen), spread it onto the bread, added sliced avocado, fresh baby spinach, and goat cheese. Mozzarella is what we already had, so we added that as the “melty” cheese.


Pesto, Mozzarella, Baby Spinach, Avocado Grilled Cheese Sandwich Recipe



Ingredients

  • 2 slices bread (we used a white bread, but one filled with lots of different whole grains and seeds would be *awesome*)
  • 2-3 tablespoons Herb Pesto (recipe below)
  • 2 slices mild white melty cheese like mozzarella
  • handful fresh baby spinach
  • ¼ avocado, sliced
  • 2 tablespoons goat cheese, crumbled
  • olive oil (and butter if you’re so inclined)

Directions

  1. Spread about 1 tablespoon of Green Goddess Herb Pesto onto each slice of bread (2 tablespoons total, but if you’re sensitive, go light, the pesto is STRONG).
  2. On one slice of bread, add 1 slice of cheese, sliced avocado, crumbled goat cheese, spinach, second slice of cheese, then top it with second slice of bread. Press together gently.
  3. Heat 1 tablespoon olive oil in a frying pan over medium low heat. (If you want to use butter, add it to the oil and let it melt). Add the sandwich to the oil and cook until bread is golden brown. Press down on the sandwich lightly, then flip the sandwich over and cook until second side is golden brown.

Herb Pesto Recipe


Ingredients
  • 1 clove garlic
  • 1 (or 2 if you’re ballsy) anchovy fillet (in oil)
  • ½ small shallot, chopped (about 1 tablespoon)
  • 1 teaspoon lemon juice
  • handful chopped fresh Italian parsley
  • handful chopped kale
  • 2-3 tablespoons chopped fresh tarragon
  • 1 tablespoon chopped chives
  • ¼ cup olive oil
  • salt and pepper to taste
Directions
  1. Pulse garlic, anchovy, and shallot in food processor until chopped. With the food processor running, add lemon juice, parsley, kale, tarragon and chives. (It won’t process very well yet, don’t worry).
  2. Very slowly drizzle in olive oil until kale and herbs get sufficiently chopped and everything is the consistency of a pesto. You may need more or less of the olive oil depending on how big a “handful” of herbs is to you. You can also turn off the food processor and push herbs down the side of the bowl with a spatula every once in a while.
  3. Season to taste with salt and pepper (You probably won’t need too much salt if you used 2 anchovies).
  4. (This makes a lot but you will use it all for other things. We added more olive oil to make it back into a salad dressing.)

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