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!

Thai Red Curry with Vegetables


This Thai red curry recipe is so easy to make at home! It’s much tastier than takeout and healthier, too. Feel free to change up the vegetables (you’ll need about 3 cups total) and skip the kale if you want a more traditional Thai curry. This recipe is vegetarian, vegan and gluten free for all to enjoy. Recipe yields 4 servings.

Yield: 4 servings

INGREDIENTS
  • 1 ¼ cups brown jasmine rice or long-grain brown rice, rinsed
  • 1 tablespoon coconut oil or olive oil
  • 1 small white onion, chopped (about 1 cup)
  • Pinch of salt, more to taste
  • 1 tablespoon finely grated fresh ginger (about a 1-inch nub of ginger)
  • 2 cloves garlic, pressed or minced
  • 1 red bell pepper, sliced into thin 2-inch long strips
  • 1 yellow, orange or green bell pepper, sliced into thin 2-inch long strips
  • 3 carrots, peeled and sliced on the diagonal into ¼-inch thick rounds (about 1 cup)
  • 2 tablespoons Thai red curry paste*
  • 1 can (14 ounces) regular coconut milk**
  • ½ cup water
  • 1 ½ cups packed thinly sliced kale (tough ribs removed first), preferably the Tuscan/lacinato/dinosaur variety
  • 1 ½ teaspoons coconut sugar or turbinado (raw) sugar or brown sugar
  • 1 tablespoon tamari or soy sauce***
  • 2 teaspoons rice vinegar or fresh lime juice
  • Garnishes/sides: handful of chopped fresh basil or cilantro, optional red pepper flakes, optional sriracha or chili garlic sauce

INSTRUCTIONS
  1. To cook the rice, bring a large pot of water to boil. Add the rinsed rice and continue boiling for 30 minutes, reducing heat as necessary to prevent overflow. Remove from heat, drain the rice and return the rice to pot. Cover and let the rice rest for 10 minutes or longer, until you’re ready to serve. Just before serving, season the rice to taste with salt and fluff it with a fork.
  2. To make the curry, warm a large skillet with deep sides over medium heat. Once it’s hot, add the oil. Add the onion and a sprinkle of salt and cook, stirring often, until the onion has softened and is turning translucent, about 5 minutes. Add the ginger and garlic and cook until fragrant, about 30 seconds, while stirring continuously.
  3. Add the bell peppers and carrots. Cook until the bell peppers are fork-tender, 3 to 5 more minutes, stirring occasionally. Then add the curry paste and cook, stirring often, for 2 minutes.
  4. Add the coconut milk, water, kale and sugar, and stir to combine. Bring the mixture to a simmer over medium heat. Reduce heat as necessary to maintain a gentle simmer and cook until the peppers, carrots and kale have softened to your liking, about 5 to 10 minutes, stirring occasionally.
  5. Remove the pot from the heat and season with tamari and rice vinegar. Add salt (I added ¼ teaspoon for optimal flavor), to taste. If the curry needs a little more punch, add ½ teaspoon more tamari, or for more acidity, add ½ teaspoon more rice vinegar. Divide rice and curry into bowls and garnish with chopped cilantro and a sprinkle of red pepper flakes, if you’d like. If you love spicy curries, serve with sriracha or chili garlic sauce on the side.

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