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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!

LEMON POPPY SEED SCONES

, Edit
These light, flaky and citrus filled Lemon Poppy Seed scones are a cinch to make and are the perfect breakfast .
That little bit of crunch? Oh wow.

THE perfect contrast to the soft, flaky Lemon Poppy Seed Scones.


I do love a scone. They are just the best. Slightly warm and served with clotted cream and jam = me in heaven.

However, there are plenty of ways to switch them up and instead of a standard scone with raisins/currants, I decided to make a zesty, fresh Lemon Poppy Seed variety.

Mind you, I still think they’d be pretty darn fine with some jam… Oh no wait! – LEMON CURD!

Heck yes. I need to go do that ASAP! It would be like starting my day with pure sunshine!

Lemon Poppy Seed Scones Recipe
These light, flaky and citrus filled Lemon Poppy Seed scones are a cinch to make and are the perfect breakfast for a dull January morning!


Ingredients
For the scones:

  • 2 1/2 cups (350g) plain flour
  • 1/4 cup (50g) caster sugar
  • 2 1/2 tbsp poppy seeds
  • 2 tsp baking powder
  • Pinch of salt
  • Zest of 2 small, or 1 large lemon
  • 1 stick (113g) unsalted butter, cold and cut into cubes
  • 2 tbsp freshly squeezed lemon juice
  • 2 large eggs, lightly beaten
  • 2-3 tbsp milk

For the glaze:

  • 1/2 cup (60g) icing sugar, sifted
  • 1-2 tbsp lemon juice
  • Extra poppy seeds to garnish, optional

Instructions

  1. Preheat the oven to 200C/400F and line a baking tray with a silicone mat/grease proof paper.
  2. Place flour, sugar, poppy seeds, baking powder, salt, zest and butter cubes into a large bowl and rub between your fingers until you have a coarse breadcrumb texture. Some larger lumps of butter and flour are fine.
  3. Add in the lemon juice, stir briefly and then add in the eggs. Mix with a wooden spoon just until you can't see the eggs, then add in milk, 1tbsp at a time, mixing in between each addition until a soft dough forms.
  4. The dough shouldn't be overly sticky, just smooth. A few crumbly bits are absolutely fine!
  5. Tip the dough onto your prepared baking tray and pat into a circle, roughly 1/2 an inch thick.
  6. Using a pizza cutter or knife, slice into 6-8 wedges. I halved the dough both ways, then cut diagonally across both ways to create 8 triangles.
  7. Use a spatula to pick up the scones and just spread them out slightly, just to give them room to rise.
  8. Place in the oven for 10-12 minutes until risen, puffy and lightly golden.
  9. Leave to cool on the tray for at least 10 minutes, before transferring to a wire rack to cool completely.
  10. Once cool, make the glaze: place icing sugar into a medium sized bowl, then add 1tbsp lemon juice, mix until well combined and smooth, add in a little more lemon juice if required. You want a consistency which will pour off of a spoon easily.
  11. Place a piece of kitchen roll under your wire rack and then spoon the glaze all over the scones. It's a pretty transparent glaze, so you will only see a sheen on each scone, but it really revs up the flavour!
  12. Lemon Poppy Seed Scones will keep in an airtight container, at room temperature for 4 days.


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