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!

SLOW COOKER POTATO SOUP

SLOW COOKER POTATO SOUP
This Slow Cooker Potato Soup recipe is easy to make in the crock-pot, and it’s perfectly thick and creamy and flavorful (without having to use heavy cream)!
SLOW COOKER POTATO SOUP
YIELD: 8-10 SERVINGS
TOTAL TIME: 4 HOURS 20 MINS 
PREP TIME: 10 MINS
COOK TIME: 4 HOURS 10 MINS

INGREDIENTS:
  • 6 slices cooked bacon*, diced
  • 3-4 cups good-quality chicken or vegetable stock
  • 2 pounds Yukon gold potatoes**, peeled (if desired) and diced
  • 1 medium white or yellow onion, peeled and diced
  • 4 tablespoons bacon grease* (or butter)
  • 1/3 cup all-purpose flour
  • 1 (12-ounce) can 2% evaporated milk
  • 1 cup shredded reduced-fat sharp cheddar cheese
  • 1/2 cup plain low-fat Greek yogurt or low-fat sour cream
  • 1 teaspoon Kosher salt, or more to taste
  • 1/2 teaspoon freshly-cracked black pepper
  • optional toppings: thinly-sliced green onions or chives, extra shredded cheese, extra bacon, sour cream
DIRECTIONS:
  1. Add bacon, 3 cups chicken stock, potatoes and onion to the bowl of a large slow cooker, and stir to combine. Cook on low for 6-8 hours or on high for 3-4 hours, or until the potatoes are completely tender and cooked through.
  2. Once the soup has slow cooked and is about ready to serve, cook the butter in a small saucepan on the stove over medium-high heat until it has melted. Whisk in the flour until it is completely combined, and then cook for 1 minute, stirring occasionally. Gradually add in the evaporated milk while whisking it together with the flour mixture, and continue whisking until the mixture is completely smooth. Let the mixture continue cooking until it reaches a simmer, stirring occasionally, and then it should get really thick.
  3. Immediately pour the milk mixture into the slow cooker with the potatoes, and stir until combined. Add in the cheddar cheese, Greek yogurt (or sour cream), salt and pepper, and stir until combined. If you would like the soup to be even thicker, you can use a potato masher or a large spoon to mash about half of the potatoes (while the soup is still in the slow cooker) to thicken the soup up. If you would like the soup to be thinner, add in an extra 1-2 cups of warmed chicken or vegetable stock. Stir to combine, then taste and add more salt and pepper if needed.
  4. Serve warm, garnished with desired toppings. Or transfer to a sealed container and refrigerate for up to 3 days. (This recipe will not freeze well.)
*You can either fry the bacon, cook it in the microwave, or buy pre-cooked bacon. If frying or microwaving, I recommend dicing the bacon before cooking it. And if you are frying it, I highly recommend saving the bacon grease for later and then using it to make your roux (instead of butter).
**I highly recommend using Yukon gold potatoes, which have the perfect texture and buttery taste for this soup. But Russet potatoes or red potatoes would also work just fine in this recipe.
***If you would like to make this recipe vegetarian, use vegetable stock, omit the bacon, and I would recommend adding in 2-3 teaspoons of Old Bay seasoning for extra flavor.
DIFFICULTY: EASYCATEGORY: SLOW COOKER INGREDIENTS: BACON, BUTTER, GREEK YOGURT, ONION, POTATOES, SLOW COOKER, SOUP
All images and text ©Gimme Some Oven

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