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!


This Instant Pot recipe will yield the most flavorful biryani without a lot of hard work. If you don’t own an Instant Pot, don’t worry you can still make great tasting biryani on your stove top, check out the recipe below.

There are various reasons to love Instant Pot such as consistent results, mess-free stovetop but for me, it is the ability to make recipes like this delicious shrimp biryani with very little hands-on time. It is magical – the way Instant Pot churns up this delectable biryani with the shrimp perfectly cooked and with the rice grains perfectly separate just like any good biryani should be.

Looking for a failproof shrimp biryani recipe? I have one for you! This Instant Pot recipe will yield the most flavorful biryani without a lot of hard work.

  • 2 cups basmati rice, soaked in water for 20-30 minutes
  • 1/4 cup olive oil
  • 4-5 cloves
  • 6-8 black peppercorns
  • 1 bay leaf
  • 1-inch piece cinnamon stick
  • 2 cups chopped onions
  • 4 garlic cloves crushed into a paste
  • 2 cups chopped tomatoes
  • 2 green chilies, slit lengthwise
  • 2 teaspoon red chili powder
  • salt to taste
  • 1/2 teaspoon turmeric powder
  • 1 pound shrimp/prawns peeled and deveined
  • 3 tablespoon yogurt
  • 1/4 cup coconut milk [optional]
  • 2 teaspoon garam masala
  • 1/2 tablespoon lime juice
  • 1 tablespoon ghee (clarified butter)
  • chopped coriander leaves for garnishing
Stovetop method
  1. Cook the presoaked rice with twice the amount of water and salt (1/4 tsp) till it is 3/4th done. [ Note: I make my rice in the microwave. Normally I keep it for 16 minutes but when I am making rice for pulao I keep it for around 14 minutes]. Then I let it cool.
  2. In a medium-sized kadhai or wok kept over medium heat, add 1/4 cup oil. Add peppercorns, cloves and bay leaves, cinnamon stick and when they sizzle (after 10-15 seconds) add onions and garlic. Fry them till the onions turn translucent.
  3. Add tomatoes and continue frying till they turn mushy. Add the green chilies, red chili powder, salt, turmeric powder and shrimp/prawns and mix well.
  4. Whisk the yogurt well and mix it with the coconut milk (if you are using it) and add it to the kadhai/wok. Continue to keep it on medium heat till the shrimp/prawns are done. At this point, the gravy should run thick and shouldn’t be runny at all. Add garam masala, along with lime juice and mix well.
  5. Add the rice and ghee to the kadhai and carefully fold it in and simmer it for 5 minutes covering the kadhai before taking it off heat.
  6. Garnish it with coriander leaves and serve hot with raita.
Instant Pot method
  1. Add oil to the steel insert of the Instant Pot and press the Saute function. Press the Adjust button to move the selection to “Normal” and wait till the display reads “Hot.” and add peppercorns, cloves, cinnamon stick and bay leaves and when they sizzle (after 10-15 seconds) add onions. Fry the onions till they turn soft and translucent (approximately 5 minutes).
  2. Add garlic and saute it with the onions for a minute or so. Add tomatoes and continue frying till they turn mushy. Add the green chilies, red chili powder, salt, turmeric powder and shrimp/prawns and mix well.
  3. Whisk the yogurt well, add garam masala and coconut milk (if you are using it) and give it a good stir. Add this mixture to the Instant Pot. Add lime juice and stir it in. Do a taste test – the salt should slightly be on the higher side [see tips above]. 
  4. Drain the water from the soaked rice and add the rice on top of the shrimp and add just enough water (approximately 1-1/4 cup) to completely submerge the rice. 
  5.  Press “Warm / Cancel” button and then select “Pressure Cook.” Adjust the time to 5 minutes and set the pressure selection at low. Cover the Instant Pot lid and lock it. Make sure the vent is at sealing position. Once the cooking cycle completes, the Instant Pot will switch to the Warm cycle. Press the Warm/Cancel button and carefully release pressure. Open the lid and let the steam escape. Add a tablespoon of ghee and wait for 5 minutes before fluffing the rice and mixing in the ghee. Garnish with coriander leaves and gently mix before serving.
  6. Serve hot with raita or yogurt


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