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!

Coconut Shrimp Laksa



Since we are practically in October and the nights are getting a distinct chill to them, I felt like it was finally time to get down to sharing some cozy comfort food. Because when the kids roll home exhausted and starving from a full afternoon of activities on top of their school days, it is nice to have something hot and really amazing waiting for them.
Red Curry Shrimp Laksa

Ingredients

  • 1 pound raw shrimp in shells
  • ¼ cup coconut or vegetable oil
  • 1 yellow onion, small diced
  • 2 cloves garlic, minced
  • 3” ginger, peeled and minced
  • 1 serrano chili, minced (with seeds) (this is spicy, so it’s optional!)
  • 3 tablespoons red curry paste
  • 8 ounces rice stick noodles
  • 4 cups Pacific Foods Organic Chicken with Lemongrass Bone Broth
  • 1 can coconut milk
  • kosher salt
  • thai basil
  • mint
  • lime wedges

Instructions

  1. Peel the shrimp, reserving the shells and rinsing the bodies. Set aside to drain.
  2. In a large pot over medium heat add the vegetable oil and the onion, garlic, ginger and chili as well as the shrimp shells. Saute over medium heat for about 10 minutes, stirring often until the onions, garlic and ginger are golden and tender.
  3. While the mixture is cooking, bring a pot of salted water to a boil. Cook the rice sticks according to manufacturers directions, about 3 minutes and then drain, rinse with cold water and drain again. Set aside.
  4. Add the curry paste to the onion, garlic, ginger and chili and turn the heat up to medium-high and fry everything for 2-3 minutes.
  5. Remove the shrimp peels and transfer the remaining contents of the pot to the jar of a blender or a food processor and puree on high until you have a pretty smooth paste. Add it back to the pot and add the chicken broth. Whisk the content together to combine.
  6. Turn the heat to medium and whisk in the can of coconut milk. Season to taste with kosher salt. Bring the broth to a simmer and add the shrimp and the cooked noodles. Check the seasoning again and add kosher salt if needed. Ladle hot broth and noodles into bowls and garnish with fresh thai basil, mint and lime wedges.
recipes adapted by heatherchristo.com

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