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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!

BACON WRAPPED CHEESE STICKS

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a close-up photo of bacon-wrapped cheese sticks with one cut in half

Bacon wrapped cheese sticks. You can imagine the rest right? Gooey, stretchy, melted cheese, just covered in bacon!
a close-up of a pile of bacon-wrapped cheese sticksSave

With the Super Bowl coming up, my mind has turned to fun appetizers to make for game day. Of course, one of them has to involve bacon. Over the years, I’ve made bacon wrapped avocado fries, sriracha bacon wrapped onion rings, and bacon wrapped eggplant fries.

These smelled so good coming out of the oven. Because the cheese melts, the bacon wrapping will also loosen when these are finished. It’s not quite as sturdy as my previous bacon wrapped recipes, but it’s still delicious. And you can break them, stretch them, dip them in bbq sauce, etc.
a close-up photo of a bacon-wrapped cheese stick being pulled apart to show the melted cheeseSave

To get these to work without making a huge cheese puddle mess, I used packaged precooked bacon. You can’t get as tight of a wrapping as when the bacon is raw, but the packaged precooked bacon usually is flexible enough that you can still wrap it around the cheese. I used 2-3 strips of bacon for each string cheese stick. Then you bake until the bacon is crispy, about 6-10 minutes. By this point the cheese should be melted, but still somewhat hold its stick form.

While making these, I was thinking of another way to accomplish this. Next time, I might try freezing my cheese sticks first and then see if I can wrap it in raw bacon and cook it. I’m worried that the cook time baking would still be too long because it does take a while for bacon to crisp up in the oven. As I was writing up this post, I did find another recipe out there that does freeze the cheese and then deep fries the bacon. That seems like a solution though I’m not a big fan of frying bacon because of all that splattering. I’ll have to experiment some more when I restock on bacon and cheese.
a stack of bacon-wrapped cheese sticks on parchment paper

BACON WRAPPED MOZZARELLA CHEESE STICKS

PREP TIME: 10 MINUTES
COOK TIME: 10 MINUTES
TOTAL TIME: 20 MINUTES
COURSE: APPETIZER, SNACKS
CUISINE: AMERICAN
SERVINGS: 12 CHEESE STICKS
Mozzarella cheese sticks wrapped in crispy bacon are a fun and addictive snack for game-day! You will need to use pre-cooked bacon for this recipe so look for packages of it at the grocery store.

INGREDIENTS:

  •  12 string cheese or mozzarella cheese sticks
  •  36 strips pre-cooked packaged bacon

DIRECTIONS:

  1. Preheat oven to 425°F. Line a large baking sheet with foil or parchment paper. Starting at one end of a cheese stick, carefully wrap one strip of bacon around it, overlapping bacon halfway each time to help secure the bacon in place. Because the bacon is pre-cooked it will be a little harder to wrap, but the light pink and fat portions should still be pretty flexible. When you reach the end of your bacon, tuck the end into one of the folds to keep it from unwrapping. Repeat with 1-2 more strips of bacon until your cheese is completely covered, including ends of cheese.
  2. Place finished wrapped cheese stick on a baking sheet. Repeat with remaining cheese and bacon. Bake in the oven for about 6-10 minutes, or until bacon is crisp and before cheese completely loses its form.
Nutrition Facts
Bacon Wrapped Mozzarella Cheese Sticks
Amount Per Serving (1 cheese stick)
Calories 164Calories from Fat 111
% Daily Value*
Total Fat 12.3g19%
Saturated Fat 4.2g21%
Polyunsaturated Fat 2.1g
Monounsaturated Fat 5.4g
Cholesterol 34.9mg12%
Sodium 588.1mg25%
Total Carbohydrates 0.6g0%
Protein 11.9g24%
Iron2%
* Percent Daily Values are based on a 2000 calorie diet.
The nutrition information provided are only estimates based on an online nutritional calculator. I am not a certified nutritionist. Please consult a professional nutritionist or doctor for accurate information and any dietary restrictions and concerns you may have.All images and content are © kirbiecravings.com

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