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!

Easy Thai Shrimp Curry

Easy Thai Shrimp Curry
This is my husband Michael’s favorite Thai dish. Plump shrimp are simmered in a rich and fragrant coconut sauce infused with lemongrass, ginger, hot green chilies and fresh herbs. It sounds exotic but it’s super easy to make. In fact, with just a few essentials in your pantry, you’re never more than 25 minutes away from this delicious meal, alive with the vibrant flavors of Thailand. Serve with jasmine rice, and be sure to put the rice on first so that everything is ready at the same time. 

Ingredients
  1. 1 tablespoon vegetable oil
  2. 1 cup thinly sliced onions, from one small onion
  3. 1/3 cup chopped scallions, white and green parts, from 4-5 scallions
  4. 2 garlic cloves, minced
  5. 2-1/2 tablespoons Thai green curry paste
  6. 1 (14-ounce) can coconut milk
  7. 1/4 cup water
  8. 2 tablespoons fish sauce
  9. 1 tablespoon brown sugar
  10. 2 pounds large, extra large or jumbo shrimp, peeled and deveined (see note)
  11. 1/4 cup chopped fresh cilantro, Thai basil or Italian basil (or a combination)
  12. Lime wedges, for serving
Instructions
  1. Heat the oil in a large skillet over medium-high heat. Add the onions and cook, stirring frequently, until soft, about 3 minutes. If the onions start to brown, reduce the heat to medium. Add the scallions, garlic and green curry paste, and stir-fry for 2 minutes more. Add the coconut milk, water, fish sauce and brown sugar and bring to a gentle boil. Add the shrimp and cook, stirring frequently, until the shrimp are pink and just cooked through, 3-4 minutes. Sprinkle with the cilantro (or basil) and serve with jasmine rice and lime wedges.
  2. Note: For the shrimp, I recommend buying frozen shrimp labeled “shell split and deveined.” Most shrimp are cleaned and flash frozen shortly after being caught, so the “fresh” shrimp you see in the seafood case at the supermarket is typically thawed frozen shrimp. Who knows how long it’s been sitting there, so you’re better off buying frozen and defrosting it yourself. Come dinnertime, all you have to do is run it under warm water to defrost, then peel.

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