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!

CRANBERRY ALMOND BROCCOLI SALAD

Every bite of this broccoli salad will be full of great flavors and textures, which all compliment one another.  To make the broccoli extra flavorful and allow the dressing to really stick to the broccoli, you’ll want to blanch it first.  Just bring some water to a boil, add the chopped fresh broccoli and boil it for about 20 seconds.


Then transfer the broccoli to a bowl filled with ice water to stop the cooking process.  Drain the broccoli on paper towels, and allow it to continue to air dry while you make the dressing and chop other ingredients.  If the broccoli isn’t dry when you try to toss the salad with the dressing, it’ll slide right off the broccoli and won’t be nearly as flavorful.

Ingredients
  • 4 1/2 cups fresh broccoli, cut into small florets about 2 heads of broccoli
  • 5 slices center cut bacon, cooked and crumbled
  • 1/4 cup red onion, finely chopped
  • 2/3 cup dried cranberries (reduced sugar would work too)
  • 1/2 cup sliced almonds
  • 1/3 cup roasted sunflower seeds
  • 1 cup sharp cheddar cheese, cut into very small cubes (or shredded if you prefer)
CREAMY CITRUS POPPYSEED DRESSING:
  • 2/3 cup canola mayo (or regular full-fat mayo)
  • 1 Tbsp apple cider vinegar
  • 3 Tbsp granulated sugar
  • zest of 1 small lemon
  • zest of 1/2 orange
  • 1-2 Tbsp lemon juice freshly squeezed
  • 1/2 Tbsp poppy seeds
  • pinch of black pepper
Instructions
  1. Bring a pot of water to boil.  Chop broccoli into very small florets and set aside.  Fill a large bowl with cold water and a cup of ice cubes.
  2. Add a generous pinch of salt to boiling water and add broccoli.  Boil for 20 seconds.  Drain broccoli and transfer to prepared bowl with ice water.  Let broccoli sit in cold water for a few minutes, until cool.  Drain and lay broccoli out onto some paper towels to drain.  Allow to continue air drying while you prepare other parts of the recipe.
  3. To a small mixing bowl, add poppyseed dressing ingredients, then whisk together until smooth and combined.  Set aside.
  4. Add finely chopped red onion to a small bowl of cold water and let sit 5 minutes, then drain.  This takes some of the "bite" out of the raw onion.
  5. To a large mixing bowl, add dried broccoli florets, bacon, drained raw onion, cranberries, almonds, sunflower seeds, and cheddar cheese.  Toss with citrus poppyseed dressing (start with about half the dressing, and increase to your liking).  
  6. Cover with plastic wrap and refrigerate for at least 30 minutes.  Toss and serve.
Recipe Adapted : CRANBERRY ALMOND BROCCOLI SALAD @ mommyskitchen

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