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!

Vegetable Fried Rice Recipe

The Best Vegetable Fried Rice
I designed this recipe to work well in a regular skillet (preferably cast iron), since most of us don’t have woks at home.

The only tricky part, which really isn’t so difficult, is to cook the eggs, vegetables and rice separately, and combine them all at the end.

That way, each component will be cooked just right, and the vegetables and rice will get a chance to develop those delicious golden edges.

INGREDIENTS

  • 1 ½ teaspoons + 2 tablespoons avocado oil or safflower oil, divided
  • 2 eggs, whisked together
  • 1 small white onion, finely chopped (about 1 cup)
  • 2 medium carrots, finely chopped (about ½ cup)
  • 2 cups additional veggies, cut into very small pieces for quick cooking (see photos for size reference; options include snow peas, asparagus, broccoli, cabbage, bell pepper, and/or fresh or frozen peas—no need to thaw first)
  • ¼ teaspoon salt, more to taste
  • 1 tablespoon grated or finely minced fresh ginger
  • 2 large cloves garlic, pressed or minced
  • Pinch of red pepper flakes
  • 2 cups cooked brown rice (*see notes!)
  • 1 cup greens (optional), such as spinach, baby kale or tatsoi
  • 3 green onions, chopped
  • 1 tablespoon reduced-sodium tamari or soy sauce**
  • 1 teaspoon toasted sesame oil
  • Chili-garlic sauce or sriracha, for serving (optional)


INSTRUCTIONS


  1. This recipe comes together quickly. Before you get started, make sure that all of your ingredients are prepped and within an arm’s reach from the stove. Also have an empty bowl nearby for holding the cooked eggs and veggies. I’m suggesting that you start over medium-high heat, but if at any point you catch a whiff of oil or food burning, reduce the heat to medium.
  2. Warm a large cast iron or stainless steel skillet over medium-high heat until a few drops of water evaporate within a couple of seconds. Immediately add 1 ½ teaspoons of oil and swirl the pan to coat the bottom. Add the scrambled eggs and swirl the pan so they cover the bottom. Cook until they are just lightly set, flipping or stirring along the way. Transfer the eggs to a bowl and wipe out the pan with a heat-proof spatula.
  3. Return the pan to heat and add 1 tablespoon of oil. Add the onion and carrots and cook, stirring often, until the onions are translucent and the carrots are tender, about 3 to 5 minutes.
  4. Add the remaining veggies and salt. Continue cooking, stirring occasionally (don’t stir too often, or the veggies won’t have a chance to turn golden on the edges), until the veggies are cooked through and turning golden, about 3 to 5 more minutes. In the meantime, use the edge of your spatula or a spoon to break up the scrambled eggs into smaller pieces.
  5. Use a big spatula or spoon to transfer the contents of the pan to the bowl with the cooked eggs. Return the pan to heat and the remaining 1 tablespoon oil. Add the ginger, garlic and red pepper flakes, and cook until fragrant while stirring constantly, about 30 seconds. Add the rice and mix it all together. Cook, stirring occasionally, until the rice is hot and starting to turn golden on the edges, about 3 to 5 minutes.
  6. Add the greens (if using) and green onions, and stir to combine. Add the cooked veggies and eggs and stir to combine. Remove the pan from the heat and stir in the tamari and sesame oil. Taste, and add a little more tamari if you’d like more soy flavor (don’t overdo it or it will drown out the other flavors) or salt, if the dish needs an extra boost of overall flavor.
  7. Divide into bowls and serve immediately. I usually serve mine with chili-garlic sauce or sriracha on the side. Leftovers store well in the refrigerator, covered, for 3 to 4 days (if you used purple cabbage, it might stain your scrambled eggs a funny blue color, but it’s fine to eat).

source: cookieandkate.com

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