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!

Bourbon Peach Hand Pies

For the dough:
  • 2 1/2 cups all-purpose flour
  • 1/2 teaspoon salt
  • 2 sticks butter unsalted, cold, cut into pieces
  • 1/2 cup sour cream4 teaspoons lemon juice freshly squeezed
  • 1/2 cup ice water

For the filling:
  • 2 pounds peaches finely diced
  • 1/4 cup all-purpose flour
  • 1/4 cup sugar
  • 1/8 teaspoon salt
  • 1/8 teaspoon ground cinnamon
  • 1 teaspoon bourbon
  • 1/2 teaspoon pure vanilla extract
  • 1 egg wash (1 egg whisked with 1 teaspoon water)coarse sugar (for sprinkling on top)

Directions
  1. To make the pastry, in a bowl, combine the flour and salt. Place the butter in another bowl. Place both bowls in the freezer for 1 hour. Remove the bowls from the freezer and make a well in the center of the flour. This is a crucial step. Pie dough has to be kept super cold so that it stays flaky. So don’t skip this!
  2. Add the butter to the well and, using a pastry blender, cut it in until the mixture resembles coarse meal. Make another well in the center. In a small bowl, whisk together the sour cream, lemon juice and water and add half of this mixture to the well. With your fingertips, mix in the liquid until large lumps form. Remove the large lumps and repeat with the remaining liquid and flour-butter mixture. Pat the lumps into a ball; do not overwork the dough, to prevent it from getting tough. Cover with plastic wrap and refrigerate for 1 hour. If preparing ahead of time, the dough can be stored at this point for up to one month in the freezer.
  3. Divide the refrigerated dough in half. On a lightly floured work surface, roll out one half of the dough to 1/8-inch thickness. Using a 4 1/2-inch-round biscuit cutter (I didn’t have a biscuit cutter big enough so I used a plastic cup), cut seven circles out of the rolled dough. Transfer the circles to a parchment-lined baking sheet, and place in the refrigerator to chill for about 30 minutes. Repeat the rolling, cutting, and chilling process with the remaining half of dough.
  4. Make the filling: Peel and chop the peaches into small bits (approx. 1/2-inch dice), much smaller than you’d use for a regular-sized pie. I cut mine waaay too big so I could fit only a couple peach pieces on each dough round so learn from my mistakes, k? Mix them with the flour, sugar and pinch of salt and cinnamon, and add the bourbon and vanilla.
  5. Remove the chilled dough from the refrigerator, and let stand at room temperature until just pliable, 2 to 3 minutes. Spoon about 1 to 2 tablespoons filling (use the smaller amount for a 4-inch circle) onto one half of each circle of dough. Quickly brush a little cold water around the circumference of the dough, and fold it in half so the other side comes down over the filling, creating a semicircle. Seal the hand pie, and make a decorative edge by pressing the edges of the dough together with the back of a fork. Repeat process with remaining dough. Place the hand pies back on the parchment-lined baking sheet, and return to the refrigerator to chill for another 30 minutes.
  6. Heat oven to 375 degrees. Remove the chilled hand pies from the refrigerator, cut a small slit in each and lightly brush with the egg yolk wash. Sprinkle coarse sugar generously over the pies, and place pies in the oven to bake. Bake until the hand pies are golden brown and just slightly cracked, about 20 minutes. Remove the pies from the oven, and let stand to cool slightly before serving.
Recipe Source:completerecipes.com

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