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!

South Padre shrimp ceviche

South Padre shrimp ceviche | Homesick Texan
This time last summer, I found myself on South Padre Island. I was thick into a queso road trip and as such had been eating multiple bowls of molten cheese from morning until night. While that experience was indeed glorious, after a couple of weeks I needed something more light and acidic. A restaurant on the island called Ceviche, Ceviche provided just what I craved.
This take-out spot, not far from the ocean, had been highly recommended to me as a fine place to get fish and shrimp mixed with fruits and vegetables such as tomatoes, cantaloupe, jicama, and avocado. The set up was much like Chipotle, in that you choose your protein base and then let the person behind the counter add in whatever other ingredients strike your fancy.
South Padre shrimp ceviche | Homesick Texan

That day, I was feeling traditional and so I went with Gulf shrimp ceviche, which was in season, along with a classic blend of tomatoes, garlic, onions, jalapeños, and avocado. A generous splash of lime juice brought it all together and gave it additional life. When it was done, I took my ceviche, walked past the grassy dunes, sat on the sand, and watched the water crest and fall as I ate. It was a perfect lunch.

Ceviche is originally from Peru but eventually made its way to Mexico and then Texas. There are countless combinations of ingredients, but the foundation of any ceviche is the same—seafood marinated in an acidic liquid mixed with other herbs, fruits, and vegetables. Firm and fresh white fish such as snapper, sea bass, and halibut are good options, but my favorite protein for ceviche is Gulf shrimp, which is what I’ve used here.
South Padre shrimp ceviche | Homesick Texan
This recipe, which is much like the one I had in South Padre, is perhaps the most popular variation you’ll find along the Texas coast. To eat the ceviche, I like to scoop it onto salty tortilla chips, though it can also be placed on tostadas or in tortillas. Some folks like to serve it on a bed of lettuce, too. Of course, there’s no right or wrong way to enjoy ceviche. You simply need a desire for something crisp and fresh that will remind you of lazy days savoring the sunshine, the waves, and the beach.

South Padre shrimp ceviche

Servings 4
Author Lisa Fain

Ingredients

  • Kosher salt
  • 1 pound small shrimp, peeled and deveined
  • 1 cup freshly squeezed lime juice, from 4-8 limes, depending on how juicy they are
  • 3 ripe plum tomatoes, seeded and diced
  • 2 jalapeños, seeded and diced
  • ¼ cup diced red onion
  • 3 cloves garlic, minced
  • ¼ cup chopped cilantro
  • ½ teaspoon ground cumin
  • ½ teaspoon dried oregano
  • 1 avocado, peeled, pitted, and diced
  • 1 tablespoon olive oil
  • Tortilla chips, for serving
  • Lime wedges, for serving

Instructions

  1. Bring a pot of water to a boil, stir in about a tablespoon of salt, add the shrimp, then cook for 1 minute. Drain the shrimp then rinse under cold water for a minute to prevent any further cooking. Chop the shrimp into ½-inch pieces, then place in a non-reactive container and cover with the lime juice. Refrigerate and marinate for 10 minutes.

  2. After this time, drain the shrimp from the juice, reserving the lime juice. In a serving bowl, mix the shrimp with the tomatoes, jalapeños, red onion, garlic, cilantro, cumin, oregano, olive oil, and avocado. Stir in the oil, then add some of the reserved lime juice. I start with 3 tablespoons of juice, then taste and adjust seasonings, adding salt to taste and more juice if needed.

  3. Serve immediately with tortilla chips and lime wedges. It can be eaten as a dip or on individual plates with utensils.

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