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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!

JACK FROST COCKTAIL

This winter cocktail tastes like a festive version of a piña colada! Blue Curacao and shredded coconut help give this tasty drink it's wintry flair.

If you couldn’t already tell by this delicious winter cocktail, I’ve been spending most of my week lounging and relaxing, and I’m sure you’re right there with me.

It’s the holidays.

It’s the end of the year.

If there was any time to catch a breather before we start fresh in the new year, it’s right now, amirite?

Or at least, that’s been my mission this week. I’m just trying to keep everything low key and ride out the rest of the rest of the year with as little fanfare as possible.


And thanks to this winter cocktail, I think I’m off to a pretty good start!

Now, don’t get me wrong – it’ll be bittersweet to see this year go down in the history books. This year has been chock-full of wonderful highs and challenging lows, many of which culminated into me fulfilling a dream I’ve had since I was sixteen, so you know what?

I’m going to party like it’s 1998 and act like I’m preparing for Y2K. Or in other words, I’m going to listen to a lot of *NSYNC and do absolutely nothing absolutely nothing while I wait for someone else to handle all the big decisions.

Well, I guess I could muster up the motivation to do one tiny thing… like, say, mix myself a festive drink (or six?) to help pass the time while I’m busy avoiding all those pesky responsibilities.

… And that’s the part where this tasty Jack Frost Cocktail comes in.

Now, as a general rule, I’m not usually a big fan of coconut flavor… unless it’s in a mixed drink.

Because what’s a rule without an exception, right?

And it helps that the coconut in this drink reminds me of a delicious piña colada. And who here doesn’t love a piña colada? Plus, the blue curacao gives this drink that little extra “something” (plus a festive blue color!) to keep things interesting.

I’ll admit that I didn’t snack on the shredded coconut that around the rim of this glass and simply appreciated it for the super cute look, but you could totally do that if you wanted to.

I mean, really.

We won’t look. No judgment here.

You go ahead and celebrate your new year by drinking your winter cocktailand eating it, too.

You deserve it!
NOTES & TIPS FOR THIS JACK FROST DRINK
One of the prettiest things about this cocktail is the shaved coconut along the rim – however, this can be tricky to set up. This is why I recommend coating the rim with light corn syrup, as it’s extra sticky and sticky and will hold the shredded coconut better. You can try using simple syrup, but I’ve found it to be too watery to hold the coconut.
Like the glasses used in this photo? I bought them a few years ago from a local store, but this set of square champagne flutes is very similar.
You’ll also need a trusty food processor for this recipe. I bought the Ninja Blender System almost 10 years ago and it hasn’t failed me yet!

JACK FROST COCKTAIL
This winter cocktail is a festive version of the piña colada! Blue curacao and shredded coconut help give this drink it's wintry flair.
PREP: 10 MINUTES
CALORIES: 390 KCAL
YIELDS: 4 DRINKS

INGREDIENTS
  • 1 tbsp light corn syrup or simple syrup
  • 1/3 cup shredded coconut for garnish
  • 3 cup ice for a thicker drink, use 4 cups
  • 1 cup pineapple juice
  • 1/2 cup vodka or light rum
  • 1/2 cup Blue Curacao
  • 1/2 cup cream of coconut (not coconut milk)
US Customary - Metric


INSTRUCTIONS
  1. On a small plate, add shredded coconut. Wet the rim of a glass with simple syrup (can also use simple syrup, but it won't hold the coconut as well) and gently dab the top the glass in the shredded coconut, coating the rim. See above video for example. Set glass aside.
  2. Add ice, pineapple juice, vodka, blue curacao, and cream of coconut to a food processor. Pulse until smooth, about 2-3 minutes.
  3. Pour Jack Frost Winter Cocktail into prepared glasses.
  4. Serve immediately.

RECIPE NOTES

NUTRITION

390KCAL | FAT: 8G | SATURATED FAT: 7G | SODIUM: 43MG | POTASSIUM: 106MG | CARBOHYDRATES: 49G | FIBER: 1G | SUGAR: 43G | VITAMIN C: 7.6% | CALCIUM: 0.8% | IRON: 1.9%

I do my best to provide nutrition information, but please keep in mind that I'm not a certified nutritionist. Any nutritional information discussed or disclosed in this post should only be seen as my best amateur estimates of the correct values.

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