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!

Bacon Onion Rings with Bacon Ranch Dipping Sauce

You won’t be able to get enough of these crunchy, sinful onion rings! This fabulous appetizer is made with bacon bits mixed right into the batter and paired with easy, homemade bacon ranch dip.

I promise that you will make his day this Father’s Day if you will whip him up a batch of these onion rings! It doesn’t matter if it’s your dad, your husband or your son, it’s sinfully delicious and everyone will love them.

These onion rings are out-of-this-world. Crunchy, fluffy onion rings, full of flavor. They are made with freshly baked, minced crispy bacon bits mixed right into the batter. Everything you see here is very simple to make and requires little effort. Batter has only a few simple ingredients but holds a lot of deliciousness in it. The only thing that will take time here is cooking the onion rings, and that’s only if you don’t have a fryer. I do recommend medium heat setting on your stove so that the onion inside has more time to cook.

But, it’s not just the onion rings that shine in this dish, it’s the dipping sauce, and as a couple, they are perfect together! This cool bacon ranch sauce is as simple and fast as it gets. You will make it over and over again, trust me.

INGREDIENTS
Onion Rings:
  • (3-4 cups vegetable oil in a medium pot)
  • 1 large Vidalia onion (try to pick one that is long, not wide)
  • 1 cup whole milk
  • 2 Tbsp bacon drippings
  • 3 crispy cooked bacon strips, finely minced
style="font-family: Arial, Helvetica, sans-serif;">1 heaping cup all purpose flour
  • 1 tsp baking powder
  • ½ tsp paprika
  • Salt

  • Bacon Ranch Dipping Sauce:
    • ⅓ cup buttermilk
    • ¼ cup sour cream
    • 2 Tbsp mayo
    • 2 garlic cloves, pressed
    • 1 Tbsp bacon drippings
    • 2 crispy cooked bacon strips, finely minced
    • 1 Tbsp minced fresh dill weed
    • 1 Tbsp minced fresh parsley
    • Salt and fresh cracked black pepper

    INSTRUCTIONS

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    1. Preheat oil in a pot, over medium heat.
    2. Peel and slice whole onion to create rings. Peel off the little, clear membrane that is in between the onion rings.
    3. In a medium mixing bowl whisk milk, bacon drippings, flour, baking powder, paprika and salt together until smooth.
    4. Crumble crispy bacon strips and then mince them as finely as possible with a knife. Add minced bacon bits into the batter and mix until evenly incorporated.
    5. Dip a few onion rings into the batter, covering it completely, and gently add them to the heated oil, once at a time. Cook onion rings in batches until deep golden. You will want to cook over medium heat that way batter doesn't get dark too fast, leaving you with a raw onion inside. Cooking it on medium heat for a longer period of time will cook the onion inside.
    6. For dipping sauce: whisk all ingredients together in a small bowl, until all incorporated. Make sure to use the same method for mincing bacon as you did for onion rings.
    NOTES
    Recipe from Lyuba @ willcookforsmiles.com All images and content are copyright protected. Please do not use my images without prior permission. If you want to share this recipe, please simply link back to this post for the recipe. Thank you

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