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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!

HOT AND SOUR SOUP RECIPE

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This restaurant-style Hot and Sour Soup recipe is the best!!  It’s quick and simple to make, easy to adapt to your personal taste preferences, and so delicious!


Traditional hot and sour soup is actually incredibly easy to make as well.  And the bonus of making it at home is that it’s also incredibly easy to customize to your taste.  Like it extra hot?  Add in more chili garlic sauce.  Like it extra sour?  Add in more rice wine vinegar.  Like it vegetarian?  Make it with tofu.  Like the meat version?  Just add in some pork.

Trust me, this is one of those restaurant recipes that will taste just as good at home.  And it’s guaranteed to warm you up in the most delicious of ways.

I highly recommend using shiitake mushrooms for this recipe if you want it to taste ultra-authentic.  But if you can’t find any, baby bella or white button mushrooms will totally work too.

HOT AND SOUR SOUP RECIPE
This classic Chinese hot and sour soup recipe is quick and easy to make, full of delicious flavor, easy to make vegetarian (with tofu!) or with pork, and it totally rivals any soup I’ve tried at a Chinese restaurant!



INGREDIENTS:

  • 8 cups chicken or vegetable stock
  • 8 ounces shiitake mushrooms (or baby bella mushrooms), thinly-sliced with stems discarded
  • optional: 1 (8-ounce) can bamboo shoots, drained
  • 1/4 cup rice vinegar, or more to taste
  • 1/4 cup reduced-sodium soy sauce
  • 2 teaspoons ground ginger
  • 1 teaspoon chili garlic sauce
  • 1/4 cup cornstarch
  • 2 large eggs, whisked
  • 8 ounces firm tofu*, cut into 1/2-inch cubes
  • 4 green onions (scallions), thinly sliced
  • 1 teaspoon toasted sesame oil
  • Kosher salt and black pepper 

INSTRUCTIONS :

  1. Set aside ¼ cup of the chicken or vegetable stock for later use.
  2. Add the remaining 7 ¾ cups chicken or vegetable stock, mushrooms, bamboo shoots (if using), rice wine vinegar, soy sauce, ginger and chili garlic sauce to a large stock pot, and stir to combine.  Heat over medium-high heat until the soup reaches a simmer.
  3. While the soup is heating, whisk together the ¼ cup of stock (that you had set aside) and cornstarch in a small bowl until completely smooth.  Once the soup has reached a simmer, stir in the cornstarch mixture and stir for 1 minute or so until the soup has thickened.
  4. Continue stirring the soup in a circular motion, then drizzle in the eggs in a thin stream (while still stirring the soup) to create egg ribbons.  Stir in the tofu, half of the green onions, and sesame oil.  Then season the soup with salt and black pepper (or white pepper) to taste.  If you’d like a more “sour” soup, feel free to add in another tablespoon or two of rice wine vinegar as well.  Or if you’d like a spicier soup, add in more chili garlic sauce.
  5. Serve immediately, garnished with the extra green onions

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