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!

ORANGE SHRIMP AND BROCCOLI

This post is sponsored by Mahatma Rice, all opinions are my own. Thank you for supporting the brands that make Dinner at the Zoo possible!
This recipe could not be simpler to put together – with just a handful of ingredients you can put together a delicious meal to feed your out-of-town guests in less time than it would take you to get in the car and drive to a restaurant to pick up take out. I often find that the meals leading up to the big event are sometimes even more memorable than the holiday itself – everyone is happy to see each other and the atmosphere is casual and relaxed.

Shrimp and broccoli in a sweet and tangy orange sauce, served with garlic sesame fried rice.

Ingredients
For the shrimp & broccoli:
  • 1 1/2 pounds large shrimp (I use 21-25 count)
  • 3 cups broccoli florets
  • 2 teaspoons of vegetable oil
  • 1 cup of orange juice (fresh squeezed is best)
  • 2 tablespoons of soy sauce
  • 1 1/2 tablespoons of granulated sugar
  • 1 teaspoon corn starch
  • salt and pepper to taste
  • 2 tablespoons of sliced green onions
  • 2 teaspoons of sesame seeds

For the fried rice:
  • 2 cups Mahatma Jasmine Rice
  • 1 tablespoon minced garlic
  • 1 tablespoon sesame oil
  • 2 tablespoons of sesame seeds
  • 1 teaspoon vegetable oil
  • salt

Instructions

  1. In a medium pot, place 3 cups of water and 1 and 1/4 teaspoons of salt. Bring the water to a boil, then add 2 cups of Mahatma Jasmine Rice. Bring the water back to a boil then turn the heat to low, cover the pot and let it simmer for 15 minutes. Remove the cover and fluff the rice with a fork.
  2. While the rice is cooking, heat a large pan over medium high. Add the broccoli to the pan along with 2 tablespoons of water; cook for 3-5 minutes or until broccoli is tender.
  3. Season the broccoli with salt and pepper to taste and then remove it from the pan and set aside.
  4. Wipe out the pan with a paper towel and return it to medium high heat. Add the 2 teaspoons of vegetable oil; after the oil is hot add the shrimp in a single layer and season to taste with salt and pepper.
  5. Cook the shrimp for 2-3 minutes per side or until pink and opaque. Remove the shrimp from the pan and set aside.
  6. Wipe out the pan with a paper towel and add the orange juice, soy sauce and sugar. Bring to a boil and cook until the mixture has reduced by half and is starting to turn syrupy.
  7. Mix 1 teaspoon of cornstarch with 2 teaspoons of cold water and add the mixture to the pan. Boil for 1-2 minutes or until sauce has thickened. Pour the sauce over the shrimp and broccoli and cover with foil to keep warm.
  8. To make the fried rice heat 1 teaspoon of vegetable oil in a large pan over medium heat. Add the garlic and cook for 1 minute - be careful to not let the garlic burn. Add the rice, sesame oil and sesame seeds to the pan and cook, stirring often, for 5 minutes. Add salt and pepper to taste.
  9. To serve: place the rice on a platter and top with the shrimp and broccoli mixture. Garnish with the sliced green onions and 2 teaspoons of sesame seeds. Serve immediately.


Nutrition Facts
Orange Shrimp and Broccoli with Garlic Sesame Fried Rice
Amount Per Serving
Calories 656Calories from Fat 108
% Daily Value*
Total Fat 12g18%
Saturated Fat 3g15%
Cholesterol 428mg143%
Sodium 1866mg78%
Potassium 619mg18%
Total Carbohydrates 87g29%
Dietary Fiber 3g12%
Sugars 7g
Protein 45g90%
Vitamin A12.5%
Vitamin C120.5%
Calcium36%
Iron32.9%
* Percent Daily Values are based on a 2000 calorie diet.

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