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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!

Egg Drop Soup

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This Egg Drop Soup is the BEST! This quick and easy soup is made with just 8 ingredients and is ready in minutes. Perfect for curling up to on a cold winter day!
The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!Save

I partnered with Phil’s Fresh Eggs to bring you this recipe, but as always, all ideas and opinions are my own.
So we’re entering a new stage with Ellia. A stage dreaded by parents everywhere: THE MIDDLE SCHOOL YEARS. How we are already there, I have no clue. But what I do know is that one week from today we’ll be at middle school orientation…and from that point on, things will be getting VERY real. Ellia will be choosing her classes and meeting her teachers and touring the building….and then counting down the days until she’s no longer a grade schooler. To be honest, she’s not excited. If it were up to her, she’d stay in grade school forever! She loves her school, she loves her teachers, and she loves the comfort of being in a place she knows. And even though I have fond memories of middle school friendships, one thing she’s really not excited about is the middle school drama.
The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!Save

And let me tell you, it has already started. In a major way! I was at their school for the Blizzard Ball this past weekend and was shocked to see the way the 5th grade girls were marching around, cell phones in hand, looking a whole lot more like teenagers than the little girls I remember them as. Thankfully, Ellia wants no part in it. She’s happy to have her few close friends and more than happy to stay out of the drama. Which makes me just about the happiest mom around.
The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!Save

Egg Drop Soup – A quick meal

Thinking back, I was pretty much the same way. I dabbled in drama but quickly realized it wasn’t for me. No, I was more of tiny little group kind of gal – and by tiny, I mean myself and one or two friends. And in middle school? Those friends were Amy and Michelle. We spent a lot of time together after school and on weekends…and one of our favorite things to do was walk to the nearby Chinese restaurant. We would order our favorites, including Egg Drop Soup, and sit and talk and act like little adults. Not in a drama-filled way, but in the best way possible.
Egg Drop Soup with Phil's Fresh EggsSave

And this Egg Drop Soup recipe? Well, it reminds me of those days. Easy, carefree, comforting, and SO delicious. And even better when they’re made with Phil’s Fresh Eggs! I love that Phil’s Fresh Eggs are cage free and certified humane, produced by happy, well-fed chickens. Meaning they really do taste better, and you can feel good about feeding them to your family. And since the egg really is the star of the show in this Egg Drop Soup, Phil’s Fresh Eggs are the way to go. This soup couldn’t be easier to make – just a few simple steps and 10 minutes or less – and you have the perfect bowl of Egg Drop Soup! Now if only pointing our middle schoolers in the right direction were just as easy….
The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!Save

Egg Drop Soup Recipe

Egg Drop Soup

The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!
 Cook Time 10 minutes
 Total Time 10 minutes
 Servings 2
 Author Cathy Trochelman

Ingredients

  • 2 c. chicken broth
  • 1/2 tsp. soy sauce
  • 1/2 tsp. sesame oil
  • 2 tsp. corn starch
  • 4 tsp. water
  • 2 Phil's Fresh Eggs beaten
  • 1/2 tsp. dried minced onion
  • 1/8 tsp. salt or more to taste
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Instructions

  1. In a medium saucepan, combine chicken broth, soy sauce, and sesame oil.
  2. Bring to a boil.
  3. Stir together corn starch and water; stir into boiling water.
  4. Slowly add beaten eggs, whisking vigorously until eggs are completely incorporated.
  5. Stir in dried minced onion and salt.
  6. Garnish with sliced green onions.
The BEST Egg Drop Soup! Made with just 8 ingredients and ready in minutes...perfect for curling up to on a cold winter day!
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