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!

LAYERED RATATOUILLE

One of the things I love most about Southern California summers is the abundance of fresh fruits and vegetables available. From grocery stores to farmer’s markets, it’s a wonderful thing to know that the produce I need, and plenty more that I don’t need, is fresh, plentiful and grown locally.
Even my meat-eating man was over the moon for this one, which we served with grilled chicken and a warm, sliced baguette. We also agreed that it would also be enough as a full dinner on its own, or served with rice, couscous or polenta.

I know you’ll absolutely love this ratatouille adapted from Smitten Kitchen, too, because the flavors are just as vibrant as the colors. Completing it really makes you feel like you’ve not only made an incredibly delicious dish, but you’ve created a work of art!

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INGREDIENTS:
  • 1/2 onion, finely chopped
  • 2 garlic cloves, very thinly sliced
  • 1 cup tomato puree
  • ¼ tsp. oregano
  • ¼ tsp. crushed red pepper flakes
  • 2 tablespoons olive oil, divided
  • 1 small eggplant, such as Italian or Chinese
  • 1 zucchini
  • 1 yellow squash
  • 1 long red bell pepper
  • Few sprigs fresh thyme
  • Salt and pepper

DIRECTIONS:
Preheat oven to 375 degrees F.

Pour tomato puree into bottom of an oval baking dish, approximately 10 inches across the long way. Drop the sliced garlic cloves and chopped onion into the sauce, stir in oregano, crushed red pepper flakes, one tablespoon of the olive oil, and season the sauce generously with salt and pepper.

Trim the ends off the eggplant, zucchini and yellow squash. Trim the top of the red pepper and remove the core.

On a mandoline, adjustable-blade slicer or with a very sharp knife, cut the eggplant, zucchini, yellow squash and red pepper into very thin slices, approximately 1/16-inch thick.

Atop the tomato sauce, arrange slices of prepared vegetables concentrically from the outer edge to the inside of the baking dish, overlapping so just a smidgen of each flat surface is visible, alternating vegetables. You may have a handful leftover that do not fit.

Drizzle the remaining tablespoon olive oil over the vegetables and season them generously with salt and pepper. Remove the leaves from the thyme sprigs with your fingertips, running them down the stem. Sprinkle the fresh thyme over the dish.

Cover dish with a piece of parchment paper cut to fit inside.

Bake for approximately 45 to 55 minutes, until vegetables have released their liquid and are clearly cooked, but with some structure left so they are not totally limp. They should not be brown at the edges, and you should see that the tomato sauce is bubbling up around them.

Serve with a dab of soft goat cheese on top, alone, or with some crusty French bread, atop polenta, couscous, or your choice of grain.

Enjoy!


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