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!

Pomegranate Grapefruit Paloma

pomegranate grapefruit paloma
All January and early February, as glacial winds smacked us in our face on the walk to school — and somehow back too (uphill, both ways, etc.) — I counted down the days until we would go to Florida to visit my parents (who winter-as-a-verb there like all the other smart retirees of the Northeast) and thaw our bones for five days. Instead, the warm weather found its way here and apparently it’s been full-out spring while we were away but I’m not mad, how could I be, I was sitting on a beach in the middle of winter and it was exactly what we needed, or at least the 3/4 of us that are willing to let our feet touch the sand. Spotty wi-fi, falling asleep shortly after the kids did each night (one who learned a new word “mom-MEE!”) and great heaps of fresh fruit at the hotel’s breakfast buffet (shamelessly one of my favorite resort things) all contributed to an overall feeling of wellness that I hope to carry with me at least for the next 15 minutes, because I believe in keeping expectations reasonable.


[Somewhere in here is a wry observation of how far this is from the kid-free cocktails-on-the-beach style vacations we’ve taken other years, but if there’s anything that the retiree population of Florida makes clear it’s that you get those days back, although you might spend them cooing over other people’s tiny children and telling them how much you miss those exhausting days. I’ll spare you.]
what you'll needsalt rima little stiradd the fizz
Before I left, however, I made us a holiday-ish cocktail that instantly became my new favorite winter thing. We usually think of margaritas as the go-to Mexican cocktail, but the unfussy and unfancy paloma is much more a bar standard, part tequila and part grapefruit-flavored soda (usually Fresca, Squirt or Jarritos), saved on the rocks with a lime wedge, sometimes with a salt rim too. A grapefruit junkie, I like to make it with fresh juice and a splash of lightly sweetened seltzer, but when cleaning out the fridge before we went away I found both a full pomegranate (score!) and pomegranate juice and decided to make a version with both. It was fizzy, dark pink, tart-sweet perfection, all with a proper kick of tequila and I really, really think you should too.

  • SERVINGS: 1
  •  
The sugar is optional but trust me, as someone who doesn't sweet-first cocktails that this is still tart and balanced with it. I don't skip it. You could make it with all grapefruit juice or you could make it with all pomegranate juice and both work, but if you get a chance to make it with both, I think you'll find, like us, it's meant to be. Size-wise, this fit neatly in this 8.65-ounce tumbler. Finally, this combination — fizzy, lightly sweetened pomegranate and grapefruit juice — makes a fine mocktail, just add a bit more fizz and adjust to taste.

  • 2 thin slices or small wedges grapefruit
  • Kosher salt for rim, if desired
  • 2 tablespoons grapefruit juice
  • 2 tablespoons pomegranate juice
  • 1 teaspoon honey, sugar or agave
  • 1/4 cup white tequila
  • About 3 medium-sized ice cubes
  • 1/4 cup club soda or seltzer
  • A few pomegranate arils (for garnish)

If you'd like to salt the rim of you glass, put a little kosher salt on a small plate. Swipe the rim of your glass with a wedge of grapefruit (or a wedge from the emptied grapefruit you've just juiced) and place the damp rim in the salt, twisting to coat it.
Place both juices and honey or sugar in the bottom of your glass and use a long spoon to stir it until combined, and/or until the sugar has dissolved. Add tequila, stir to combine. Add ice then club soda or seltzer. Garnish with additional grapefruit slices and pomegranate arils. Repeat as needed.

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