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!

White Russian

black russians
On New Year’s Eve, we attempted to do the reprehensible and take a 6 year-old who usually goes to bed at 7:30 and a pajama-clad infant who went to bed whenever the thought struck her to a party at a friend’s place in Brooklyn. Like, for grown-ups. (Just let me know where to collect our parenting medals.) By 9:30 p.m., all members of the Perelman clan were predictably rubbing their eyes and we headed home before the meltdowns began, got the wee ones tucked in and then made some White Russians. We haven’t been able to stop making them since.
what you'll need


While the drink has absolutely nothing to do with being pale-skinned or Russian-born at least in an ethnic sense, thank goodness, my husband’s fondness for them amuses me no less despite this. Wikipedia tells us that the vodka (the “Russian” part) and coffee liqueur (the “black” part) cocktail known as a Black Russian emerged in 1949, and the White Russian, which includes the praise-worthy addition of cream, shortly thereafter, although there are some that date it earlier (1930s, when it contained gin as well) and some later (1961, when the black/white distinctions first appeared in the Diners’ Club Drink Book).
pour the cream off the back of a spoon
But for most of us, the drink came into our collective consciousness in 1998, when the cult Coen Brothers movie Big Lebowski — about an aging slacker who called himself “the Dude” and whose chief pursuits included bowling, not working, and drinking White Russians — caused an inadvertent White Russian revival. To wit, I had my first about 15 minutes after leaving the movie theater. I ordered it with skim milk. The bartender looked at me askance. I deserved it.
a tempest in a rocks glass
a swirl of white russian


While the drink is often passed off as little more than an alcoholic milkshake, I think that makes it too easy to dismiss. There are no scoops of ice cream or plumes of whipped cream; chocolate shavings or garnishes of any sort on top would be all wrong. At its finest, it’s a drink that suggests dessert while not drowning you in it, all while packing a sneaky punch. It’s also, if you assemble it just so, stunning — a tempest of light and darkness in a rocks glass. Or an arts-and-crafts project for grown-ups.
white russian
I have yet to find three White Russian recipes in a row that agree on proportions. The closest thing I can find to a classic advocates 2 parts vodka, 2 parts coffee liqueur and 1 part heavy cream or 2:2:1, but I have also seen versions that are heavier on the vodka and cream (5:2:3), the liqueur (1:2:1) and/or just the cream (2:2:3). Let me be absolutely no help at all except to tell you that our favorite proportions are none of the above, but after repeated, high-stakes “testing” (goofing after the kids are sleep) in our “lab” (sofa watching Netflix), we feel this — which we call the 4:3:3 because when you cook as much as I do, even drinks are measured in tablespoons — is unquestionably the best balance. We use half-and-half instead of heavy cream; with heavy cream, 1 ounce is usually sufficient.
You can of course replace the cream with milk, cow or non-dairy. For more variations, see this list.
Makes 1 drink
2 ounces (4 tablespoons) vodka
1 1/2 ounces (3 tablespoons) coffee liqueur (such as kahlua or tia maria)
1 1/2 ounces (3 tablespoons) half-and-half or 1 ounce (2 tablespoons) milk plus 1/2 ounce (1 tablespoon) heavy cream

Fill a short — or rocks — glass with ice. Add vodka and coffee liqueur. Finish with the cream. For the layered effect, pour the cream in a very slow drizzle off the back of a spoon held over — but not touching — the surface of the drink. To swirl it prettily, insert a stirrer along the inner wall of the glass only as a deep as the cream and move it around in a slow circle.

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