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!

Oktoberfest Stew with Lager and Smoked Sausage

A delicious Oktoberfest stew loaded with rich savory flavors, perfect for celebrating the festive aspects of Oktoberfest, and for warming the belly and comforting the soul anytime!
Ingredients:
• 1 tablespoon olive oil
• 1 (14 ounce) package beef smoked sausage, cut into bite-size slices
• 1 1/2 onion, sliced into thin semi-circles
• 1/2 head small cabbage, halved again, cored and thinly sliced
• 1/2 teaspoon freshly ground black pepper
• 1/4 teaspoon ground caraway seeds
• Pinch salt
• 2 cloves garlic, finely chopped
• 1 cup German-style lager beer (Oktoberfest variety)
• 2 russet potatoes, peeled and cubed to bite-size pieces
• 2 1/2 cups hot chicken stock
• 1 1/2 tablespoons apple cider vinegar
• 1 tablespoon flat-leaf parsley, chopped

Preparation:
  1. -Place a medium-large pot over medium-high heat, and add the olive oil;
  2. -Once the oil is hot, add in the sliced beef smoked sausage, and allow the slices to caramelize and brown in the oil, for about 4-5 minutes;
  3. -When the sausage is browned, add in the sliced onions, stir, and allow the onions to caramelize with the sausage for another few minutes, until golden-brown and softened;
  4. -Once onions are caramelized, add in the sliced cabbage, stir to combine, and allow the cabbage to soften and take on the flavors of the sausage and onions for  few minutes;
  5. -Once the cabbage is softened and golden, add in the black pepper, ground caraway seeds and the pinch of salt, and stir to combine;
  6. -Next, stir in the garlic, and once it becomes aromatic, add in the cup of lager, and stir the mixture to combine; allow the beer to slightly reduce for about 3 minutes or so;
  7. -Next, add in the cubed potatoes and the hot chicken stock, stir, and allow the mixture to come to the boil; once it comes to the boil, place a lid on (slightly askew to allow just a little steam to escape), and reduce the heat to low to gently simmer the stew for about 40 minutes;
  8. -After the 40 minutes, turn the heat off, and finish the stew by stirring in the apple cider vinegar and the chopped parsley (add more salt if necessary, too).
  9. -Serve in large bowls with some hearty, rye bread or rustic rolls with butter or cream cheese.
Recipe Adapted From thecozyapron.com

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