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!

How To Cook Mussels on the Stovetop


Today, I'm sharing my favorite, most basic method for quickly steaming a batch of mussels. It's simple — just mussels steamed with broth and white wine — but oh so very good!

Ingredients

·         3 to 4 pounds mussels
·         2 tablespoons olive oil or butter, or a mix
·         2 medium shallots, minced
·         3 cloves garlic, minced
·         1 cup chicken or vegetable broth
·         1/2 cup white wine, amber beer, cider, or more broth
·         Minced parsley, to garnish
·         Lemon wedges, to garnish
·         Crusty bread, like baguette or ciabatta, to serve


Equipment

·         Strainer
·         Measuring cups

·         Saucepan with lid


Instructions

·         Check over the mussels: Rinse the mussels in a strainer and check them over. All the mussels should be tightly closed. Discard any mussels with cracked shells. If the shell is open, tap the mussel lightly against the counter; if the shell doesn't close in a few minutes, discard the mussel.
·         Debeard the mussels: Many commercial mussels will already be debearded, but it's good to check them anyway. Look for a group of short brown strings coming out the mussel on one side where the two halves of the shell close — this is the "beard." Grip these strings with your fingers or a pair of tweezers and tug gently from side to side. As you tug, the strings will pull out and detach from the shell. It's ok if you don't remove all of the beard or if you miss the beard on a few mussels; it's not harmful to eat, just tough and not very pleasant.
·         Sauté the shallots and garlic: Warm the butter or olive oil over medium-high heat in the saucepan (if using butter, let it melt completely). Add the minced shallots and garlic. Sauté until the shallots are translucent and the garlic is fragrant, 1 to 2 minutes.
·         Add the mussels: Pour all of the mussels into the pot.
·         Add the broth and wine: Pour the broth and wine over the mussels.
·         Cover and cook: Immediately cover the pan with the lid. Cook with the lid on for 5 minutes. Shake the pan once or twice during cooking, with the lid still on, to distribute the mussels.
·         Check the mussels: After 5 minutes, remove the lid and check the mussels. Nearly all the mussels should be open by now. If not, cover and cook an additional 1 to 2 minutes. Discard any mussels that haven't opened after this time.
·         Serve the mussels: Serve the mussels straight from the pan or pour the mussels and the broth into a serving bowl. Sprinkle with chopped parsley and squeeze with lemon. Serve with crusty bread for mopping up the broth.


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