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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!

Oven-Barbecued Beef Brisket

Oven-Barbecued Beef Brisket
It is one of the most scrumptious pieces of meat I have ever tasted and I think it has the potential to create quite a few brisket lovers.
The brisket is coated in a rub and completely wrapped in bacon – 1 full pound of bacon- and slow-cooked in the oven. The smokey flavor of the bacon really penetrates into the meat and all that pork fat coating the beef brisket really adds to its flavor.
Once the brisket has cooked fully, the bacon is removed and serves double duty as a flavoring for the BBQ sauce. The meat is then broiled to give it a nice char to complement the smokey flavor.
A super flavorful sauce that is both sweet and spicy is made from the bacon, which is finely chopped, cider vinegar, dark brown sugar, chicken broth, ketchup, and chipotle peppers. Once cooked, you can strain the sauce and discard the bacon, or I like to strain half of the sauce and then add it back to the saucepan. This way, there’s still some bacon, but it’s not an overwhelming amount..

Oven-Barbecued Beef Brisket Recipe
This Oven-Barbecued Beef Brisket is so smokey, tender, and juicy. No one will ever guess it wasn't cooked on the grill.

Ingredients
Rub
  • 1 1/2 tablespoons packed light brown sugar
  • 1 1/2 tablespoons paprika
  • 2 teaspoons dry mustard
  • 2 teaspoons ground black pepper
  • 2 teaspoons salt
  • 1 teaspoon onion powder
  • 1 teaspoon garlic powder
  • 1 teaspoon ground cumin
  • 1/4 teaspoon cayenne pepper
Brisket
  • 1 (4-5 pounds) brisket roast – if there is a thick layer of fat trim it down to 1/4 inch
  • 1 pound bacon
Sauce
  • reserved bacon from cooked brisket
  • 1 onion, finely chopped
  • 1/2 cup cider vinegar
  • 1/3 cup packed dark brown sugar
  • 1-2 cups chicken broth
  • 1/2 cup ketchup
  • 4 teaspoons canned chipotle peppers in adobo sauce, minced
Instructions
  1. Make the rub. Mix all ingredients well in a small bowl and set aside.
  2. Place oven rack in upper-middle position and heat oven to 275 degrees. Rub dry rub all over brisket and poke holes all over with a fork. Place half of bacon going crosswise in a broiler safe 9 by 13-inch pan (it’s best not to use glass). Put brisket fat side down on top of bacon. Lay the rest of the bacon crosswise on top of brisket, wrapping it down around the sides, and tucking any excess under. Cover pan with foil and place in oven for 4 hours.
  3. Take pan out of oven. Carefully flip brisket over, fat side up. Replace foil and return to oven. Turn off heat and leave brisket in oven 1 additional hour.
  4. Pour accumulated juices from brisket into large measuring cup or a bowl. Remove bacon from brisket and chop into pieces. Cook bacon in medium saucepan over medium heat for about 5 minutes, until fat has rendered. Add onion and cook until softened, 4-5 minutes. Take off heat and add vinegar and dark brown sugar. Return to heat and simmer until reduced to a syrupy consistency, about 5 minutes.
  5. Skim fat from accumulated juices and add chicken broth to make a total of 3 cups. Add to mixture in saucepan and reduce until about 3 cups in volume, 8-10 minutes. Take off heat and add ketchup. Mix well and strain if desired. (I like to strain about half the solid pieces out and leave the rest). After straining, add chipotle peppers.
  6. Turn oven to broil. Brush brisket with 1 cup sauce and broil until top is lightly browned and fat starts to crisp. Cut brisket against the grain into 1/4-inch slices and serve with extra sauce

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