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!


Make this Easy Chocolate Coconut Slice in no time at all – simply melt & mix! Conventional and Thermomix instructions included.

A few weeks ago, one of of my best friends had her second baby. Before I went to visit for lots of bubba cuddles, I asked if there was anything she wanted me to bring over… her answer – chocolate! You can see why we’re friends! Anyway, I thought I’d go one better and make one of my favourite chocolate slices. If you’ve never made this Easy Chocolate Coconut Slice before, then you are really, really missing out!!
This was actually one of the very first recipes I ever put on the blog, but after two years, I thought it was time it had an update, or a foodie makeover… because every good recipe needs a makeover now and then. The thing I love the most about this slice is that you probably have all of the ingredients in your cupboard and fridge – which means no extra trips to the supermarket (am I the only person who seems to live in the supermarket?).

  • 150 g butter melted & cooled
  • 200 g (1 cup) firmly packed brown sugar
  • 1 egg lightly beaten
  • 1 tsp vanilla extract
  • 60 g (1/2 cup) plain flour
  • 45 g (1/3 cup) SR Flour
  • 30 g (1/4 cup) cocoa powder
  • 40 g (1/2 cup) desiccated coconut

  • 200 g cups icing sugar 1½
  • 30 g cocoa powder ¼ cup
  • 20 g butter finely chopped
  • 2 tbs boiling water you may need to add extra water if your icing is very thick and difficult to spread
  • 2 tbs extra desiccated coconut for sprinkling

  1. Preheat oven to 160C (fan-forced).
  2. Grease and line with baking paper a 20x30cm lamington pan.
  3. Place butter, sugar, egg and vanilla in a bowl, stir until combined.
  4. Sift flour and cocoa into bowl, add ½ cup coconut.
  5. Stir until mixture has combined.
  6. Spread mixture evenly into pan.
  7. Bake for 25-30 minutes or until just firm.
  1. Sift icing sugar and cocoa into bowl.
  2. Add butter and boiling water, stir together.
  3. Spread warm slice with icing.
  4. Sprinkle remaining coconut over slice.


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