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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!

LOADED MASHED POTATO CAKES

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These Leftover Mashed Potato Cakes make an amazing side dish or light dinner or lunch!  These are the perfect way to enjoy leftover potatoes and the flavor combinations are endless!


Mashed potato pancakes make leftover mashed potatoes (with a few easy additions), into a new family favorite!

You can just add a little cheese and seasonings to make a side but if you want to turn this into a light meal or hearty lunch, add in some leftover chicken or turkey (or even stuffing)!



And this Mashed potatoes are easy to make !!

You can really get creative with the seasonings and add ins in this easy recipe!  Pretty much anything in your fridge is game… add some spices & herbs, a little bit of meat/protein and whatever veggies you have on hand!

LOADED MASHED POTATO CAKES RECIPE
These Leftover Mashed Potato Cakes make an amazing side dish or light dinner or lunch! These are the perfect way to enjoy leftover potatoes and the flavor combinations are endless!



INGREDIENTS

  • 2 cups cold mashed potatoes
  • 1 cup shredded cheese such as cheddar
  • 1/2 cup flour
  • 6 strips bacon
  • 1 medium onion chopped (or 1/4 cup green onion)
  • 2 cloves garlic chopped
  • 1 tsp salt
  • 1/2 tsp pepper
  • 2 tbsp fresh basil chopped
  • 2 tbsp fresh parsley chopped
  • 2 eggs
  • 4 tbsp butter or margarine

INSTRUCTIONS

  1. Fry the bacon until crispy and drain on a paper towel until cool. Crumble into small bits. Place the bacon bits into a large bowl.
  2. Pour off all but 2 tbsp of bacon grease from the frying pan and cook the garlic, and white onion if using, over medium heat until translucent. (If using green onion, no need to precook).
  3. Add to the bacon bits along with remaining ingredients (except butter/margarine) and blend well with a spoon or your hands (it’ll be sticky).
  4. Wash and dry your frying pan, then melt 1 tbsp of butter or margarine in it over medium heat.
  5. Scoop up about 1/4 of a cup of the potato mixture and form it into a ball. Place it in the hot pan, flattening it out until it’s about 1/2 – 3/4″ thick.
  6. Fry for about 3 minutes on each side, until they are lightly golden brown.
  7. For best results, serve immediately, while hot and crispy.
  8. Top with green onions, sour cream or ketchup. veggies you have on hand!


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