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!

MISSISSIPPI MUD CHEESY POTATOES

MISSISSIPPI MUD CHEESY POTATOES
Bacon? Check. Cheese? Check. Tons of flavor? Absolutely. See, these are the easiest potatoes I think I’ve ever made, and they’re a hit with everyone. I mean, who doesn’t love cheesy potatoes with bacon?
Start with some ingredients you may already have– 8 to 10 cups of potatoes, diced, 1 cup of Mayonnaise (the real deal, not salad dressing), about a teaspoon each of salt and pepper, a 16 ounce block of cheddar, diced (or the equivalent in shredded cheddar), 1/2 a cup of green onions, chopped, and a package of bacon. You can add half a cup of olives if you’d like to, but why ruin perfectly good potatoes? (Unless you’re an olive fan, in which case, you probably don’t see that as ruining them).
Start by slicing your bacon into pieces. Don’t look at me with that shocked face that I get every time someone sees me do this… you can TOTALLY bacon your bits instead of bitting your bacon. This method gets a lot less grease on your hands because there’s no tearing it up post-fry… if you do the cutting first, your bacon will be in perfect bite sized bits when you’re done. I promise. Just trust me– cutting bacon is NOT bacon blasphemy, no matter what anyone tells you.
Put that in a pan and cook it, trying not to eat too much bacon as the smell fills the air. Seriously, bacon is so hard to resist. That’s why there is bacon everything. While the bacon cooks, start peeling and dicing your potatoes, dicing your cheese, and chopping your green onions.
Delicious! Finish getting your other ingredients chopped and ready.
In a 9×13 pan or a 3 quart casserole dish, mix the green onions, cheese, bacon, and potatoes. If you’re adding olives, now is the time to do that, too.
Toss the ingredients with mayonnaise, coating well. Bake for an hour and a half, or until the potatoes are tender, in a 325 degree oven.
Enjoy that bubbly, bacon-y, cheesy potato side dish. You could even add in some hamburger meat or chicken and make it a main dish, if you wanted to.
Mississippi Mud Cheesy Potatoes
Serves 10
These 5 ingredient potatoes came from an old family recipe box with the note that they were named after the Mississippi River for being "long on taste and mighty good." It's so easy, it may just become a holiday staple!
Prep Time 15 min
Cook Time 1 hr 30 min
Total Time 1 hr 45 min

Ingredients
  • 8-10 Cups potatoes, diced finely
  • 16 ounces cheddar cheese, cubed or shredded
  • 1 Cup mayonnaise (real)
  • 1 package bacon, cooked and torn into large bits
  • 1/2 Cup green onions, chopped
Instructions
  1. In a 9x13 pan or 3 quart casserole dish, mix potatoes, cheddar cheese, bacon, and green onions.
  2. Stir in mayonnaise.
  3. Bake at 325 for an hour and a half or until potatoes are tender. Top with additional cheese if desired.

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