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!

CRUSTLESS LOW CARB TACO PIE

A simple, crustless meat and cheese dish that makes a wonderful main dish supper.


It’s from Carolyn Ketchum’s new book, Everyday Ketogenic Kitchen. Although I don’t follow a ketogenic diet, I loved this dish. Crustless low carb taco pie is an easy, tasty, and satisfying main course.

Ingredients
Taco Seasoning
  • 2 tablespoons chili powder
  • 1 tablespoon paprika
  • 1 tablespoon coarse salt
  • 1 tablespoon black pepper, ground
  • 2 teaspoons ground cumin
  • 1 teaspoon garlic powder
  • 1 teaspoon onion powder
  • 1 teaspoon dried oregano leaves
  • 1/4-1/2 teaspoon cayenne pepper
Taco Pie
  • 1 pound ground beef
  • 3 tablespoons Taco Seasoning (see above)
  • 6 large eggs
  • 1 cup heavy cream
  • 2 cloves garlic, minced
  • 1 cup shredded cheddar cheese (well-packed) About 4 ounces.
Instructions
Taco Seasoning
  1. In a small bowl, stir together all of the ingredients (chili powder, paprika, salt, black pepper, cumin, garlic powder, onion powder, oregano, and cayenne.) Set aside.
  2. Taco seasoning mixed and ready to make taco pie.
Taco Pie
  1. Preheat the oven to 350 degrees F and grease a 9-inch glass or ceramic deep dish pie pan.
  2. Brown the ground beef in a large skillet over medium heat until no longer pink about 7 minutes, breaking up any clumps with a wooden spoon. Add the taco seasoning and stir until combined. Spread the beef mixture in the greased pie pan.
  3. In a large bowl, combine the eggs, cream, garlic, salt, and pepper. Pour slowly over the beef mixture in the pan.
  4. Ingredients for taco pie, ready to put together.
  5. Sprinkle with the cheese and bake for 30 minutes or until the center is set and the cheese is browned. Remove from the oven and let sit for 5 minutes before serving.
  6. Store leftovers in the refrigerator for up to 4 days.
  7. Crustless taco pie, done and ready to cut.
Recipe Notes
  • Paprika comes in mild, smoked (Spanish style, known as pimenton), or hot. (I used a combination of smoked and hot.)
  • Use 1/4 teaspoon of cayenne if you prefer a milder seasoning, or 1/2 teaspoon for a bolder one.  (I used 1/2 teaspoon.)
  • Some people find the taco seasoning too salty. If you're inclined to that view, use 1 teaspoon of salt, instead of 1 tablespoon.
  • The taco seasoning makes more than is required for the Taco Pie. Save the rest for another batch of Taco Pie(s) or other uses.
  • When browning the meat, if there's more than a tablespoon or 2 of liquid, drain it off. Don't throw it down the sink, dispose of it using this handy method.
Recipe Adapted : CRUSTLESS LOW CARB TACO PIE @ eat-wells

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