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!

Grilled Sweet Potatoes

Slices of sweet potatoes grilled and slathered with a cilantro-lime dressing.

Have you ever tried grilling sweet potatoes? It’s quick and easy. You just peel the sweet potatoes, slice them into 1/4-inch slices, paint them with olive oil, sprinkle on some salt, and place on a hot grill.
To serve, you want to slather them with some sort of vinaigrette—olive oil to keep them from tasting too dry, and an acid like lime juice or lemon juice to balance the sweetness of the sweet potatoes.
We played around a bit with this recipe, after thinking we had “discovered” the wonderful combination of lime, cilantro, and sweet potatoes, only to find out many others have made a similar discovery. It’s a great combination!
You can substitute lemon juice for the lime, lime is better but lemon juice will work. And you can substitute parsley for the cilantro, especially if you are one for whom cilantro tastes like soap.
Otherwise stick with the cilantro, in our opinion, it just works better here than the parsley. We’ve also tried adding some minced garlic to the dressing, but I prefer it without it

INGREDIENTS

  • 2 pounds sweet potatoes
  • 3-4 Tbsp olive oil
  • Kosher salt
Dressing
  • 1/4 cup finely chopped fresh cilantro (including tender stems)
  • 1 teaspoon of lime zest or lemon zest
  • 2 tablespoons of fresh lime or lemon juice
  • 1/4 cup olive oil
  • Pinch of salt

METHOD

1 Prepare the grill, prep the sweet potatoes: Prepare your grill for hot, direct heat.
While the grill is heating up, peel the sweet potatoes and slice lengthwise, or on a diagonal, into 1/4 inch-thick pieces.
Coat the sweet potato slices with olive oil and lightly sprinkle with Kosher salt.
2 Make cilantro lime dressing: Combine all of the dressing ingredients into a small bowl.
3 Grill the sweet potatoes: Once the grill is hot, lay the sweet potato pieces down onto the grill grates. Cover the grill and cook until each side gets some grill marks, between 3-6 minutes for each side, depending on how hot your grill is.
4 Toss with dressing: Toss the sweet potatoes in a bowl with the dressing and serve hot.

more recipes @ www.simplyrecipes.com


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