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!

Cozy Autumn Wild Rice Soup

For those days when you’re craving a cozy, creamy, comforting bowl of soup…I have the perfect new recipe for you.

It’s a riff on the classic chicken and wild rice soup of my childhood.  But in lieu of the chicken (which you’re still welcome to add if you’d like), I’ve loaded this soup up instead with lots and lots of seasonal veggies.  And added in some bolder savory seasonings.  And lightened it up a bit by using milk instead of heavy cream.  And the result?

WILD RICE SOUP INGREDIENTS:
To make this Cozy Autumn Wild Rice Soup recipe, you will need:


  1. Wild Rice: I used and loved 100% wild rice (affiliate link) in this recipe, not a wild rice blend.
  2. Vegetable Stock: Or chicken stock, whatever you happen to have on hand.
  3. Autumn Veggies: Sweet potato, carrots, celery, onion, baby bella mushrooms and garlic.
  4. The “Bays”: Old Bay seasoning plus a bay leaf, to season our soup.  (Or see ideas below on different seasoning ideas.)
  5. The Cream Sauce: Made from butter, flour and milk, which we will mix up at the end of the cooking time.  Or see options below for a gluten-free and/or vegan alternative.
  6. Kale: I also added in lots of fresh kale at the end, or you could sub in baby spinach or collard greens.
  7. Salt & Pepper


I have included detailed instructions below for how to make this wild rice soup recipe either in the Instant Pot (pressure cooker), Crock-Pot (slow cooker), or on the stovetop.  But here are the basics. ;)


  • Cook the base of the soup: Whichever cooking method you choose, we will simmer the base soup ingredients (veggies, rice, broth, seasonings) until the rice is cooked and tender.
  • Make your cream sauce: Then during the last 10 minutes that the soup is cooking, prepare your cream sauce in a separate saucepan.  Melt the butter, whisk in the flour, then stir in the milk and cook — stirring frequently so that the bottom does not burn — until thickened.  The sauce should be very thick.  (Or skip this whole step and add in a can of coconut milk instead, which is vegan and also incredibly delicious in this recipe.)
  • Add in the cream sauce and kale: And stir to combine.  Then taste and season with salt and pepper as needed. And…
  • Serve warm: Preferably with a nice hunk of crusty bread, or some oyster crackers, or whatever sounds good


source: gimmesomeoven.com

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