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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!

30-MINUTE HERBED CHICKEN & POTATO STEW

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This Herbed Chicken & Potato Stew is my first cozy dish of the season and oh, trust me friends, it’s good. Real good. So once again I say… bring it on fall!


The key to a really good stew is a flavourful, rich and thick, creamy base with chunks of tender vegetables and meat or legumes. This stew definitely has it all. However, instead of milk, cream, or wheat flour I’ve used a little trick to create the rich and creamy goodness in this recipe.

Creamer potatoes, being naturally starchier, but still loaded with vitamin C, fibre, and potassium work wonderfully to create the illusion of “creaminess” without any dairy necessary.  Dill, thyme, and parsley add flavour, depth, vitamins, and a pretty sprinkling of green!

Half of the vegetables in the stew, including the potatoes, I left unblended to add more texture and hunks of tender goodness, and the organic roasted chicken brings in protein, B vitamins, and selenium.

30-MINUTE HERBED CHICKEN & POTATO STEW RECIPE


INGREDIENTS

  • 11 ounces cooked rotisserie chicken (preferably organic, light and dark meat), shredded and chopped
  • 1 tablespoon olive oil
  • 3 cups diced creamer potatoes (Little Potato Company Terrific Trio)
  • 3 cups organic chicken broth
  • 2 cloves garlic, crushed or minced
  • 1 cup sliced celery
  • 1 cup diced carrots
  • ½ cup sliced crimini mushrooms
  • ½ cup finely diced onion
  • 1 tablespoon fresh dill
  • 1 tablespoon dried parsley
  • 1 tablespoon dried thyme
  • ½ tsp salt or garlic salt
  • ¼ tsp pepper
  • 2 tablespoons gluten-free flour blend (all purpose)

INSTRUCTIONS

  1. Heat a large pot or dutch-oven to medium-high heat and add in the olive oil.
  2. Add in the garlic, potatoes, celery, carrots, onion, mushrooms, dill, parsley, thyme, salt, and pepper, and cook, stirring often, for about 15 minutes until softened.
  3. Lower the heat to medium and scoop two cups of the potato vegetable mixture out using a measuring cup and add to a blender.
  4. Add the chicken broth to the blender with the potato vegetable mixture and blend on high until smooth.
  5. While blending, slowly add in the gluten-free flour through the top opening.
  6. Pour the blended potato vegetable mixture back into the pot with the rest of the vegetables.
  7. Add in the chopped rotisserie chicken and stir to combine.
  8. Simmer for 10 minutes then season with more salt and pepper if desired.
  9. Divide stew between 4 bowls and serve hot with a side of gluten-free bread (optional).
  10. Enjoy!

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