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!

EASY SEAFOOD PAELLA RECIPE

An easy seafood paella recipe for today’s busy cook! Delicious! And no special pan needed.


Paella was introduced as the delicious solution to leftovers. And depending on where you live, you would utilize ingredients available in that region. It makes sense then that there are many variations of paella today!

I take comfort in that paella one dish I can make my own! Today’s is a simple paella recipe with shrimp and lobster made right in my cast iron skillet!  Fewer ingredients and lots of flavor.

Easy Seafood Paella Recipe
An easy seafood paella recipe for today’s busy cook! Delicious! And no special pan needed.



INGREDIENTS

  • 4 small lobster tails (6-12 oz each)
  • Water
  • 3 tbsp Private Reserve Extra Virgin Olive Oil
  • 1 large yellow onion, chopped
  • 2 cups Spanish rice or short grain rice, soaked in water for 15 minutes and then drained
  • 4 garlic cloves, chopped
  • 2 large pinches of Spanish saffron threads soaked in 1/2 cup water
  • 1 tsp Sweet Spanish paprika
  • 1 tsp cayenne pepper
  • 1/2 tsp aloppo pepper flakes
  • Salt
  • 2 large Roma tomatoes, finely chopped
  • 6 oz French green beans
  • 1 lb prawns or large shrimp or your choice, peeled and deveined
  • 1/4 cup chopped fresh parsley

INSTRUCTIONS

  1. In a large pot, bring 3 cups of water to a rolling boil. Add the lobster tails and let boil very briefly (1-2 minutes) until pink. Turn the heat off. Remove the lobster tails with a pair of tongs. Do not discard the lobster cooking water. When the lobster is cool enough to handle, remove the shell and cut into large chunks.
  2. In a large deep pan or skillet, heat 3 tbsp olive oil. Turn the heat to medium-high and add the chopped onions. Saute the onions for 2 minutes then add the rice, and cook for 3 more minutes, stirring regularly. Now add the chopped garlic and the lobster cooking water. Stir in the saffron and it’s soaking liquid, paprika, cayenne pepper, aleppo pepper, and salt. Stir in the chopped tomatoes and green beans. Bring to a boil and let the liquid slightly reduce, then cover (with lid or tightly with foil) and cook on low heat for 20 minutes.
  3. Uncover and spread the shrimp over the rice, pushing it into the rice slightly. Add a little water if needed. Cover and cook for another 10-15 minutes until the shrimp turns pink. Finally, add the cooked lobster chunks. When the lobster is warmed through, turn heat off. Garnish with parsley.
  4. Serve the paella hot with your favorite white wine.

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