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 BAKED POTATO SALAD

This creamy Loaded Baked Potato Salad features off your favorite classic ‘loaded’ toppings, like crisp bacon, tangy cheddar, and flavorful green onions (even sour cream!), mixed right in. A hot oven staple gets a make over just in time for barbecuing season, and picnic tables all over.


Although the recipe makes enough for roughly 4-6 people, depending on serving size, the ingredients easily doubled to make enough for a larger party.

Mayonnaise and sour cream are whisked together until smooth. Use a large mixing bowl to avoid extra dishes you’ll have to wash later! Equal amounts of thinly sliced green onions and shredded cheddar are stirred into the mix next. Cover it, and refrigerate until plenty chilled and ready to use.

Loaded Baked Potato Salad Recipe
Tender potatoes are tossed in a cream mixture of mayo & sour cream, with all your favorite 'loaded' toppings mixed right in.



Ingredients

  • 4-5 large Russet potatoes
  • 1/2 cup sour cream or Greek yogurt
  • 1/4 cup mayonnaise
  • 1/2 cup shredded cheddar cheese
  • 1/2 cup green onions thinly sliced
  • 6 strips of bacon cooked and crumbled
  • salt & pepper to taste

Instructions

  1. In a small bowl, stir together the mayonnaise and sour cream until evenly combined.
  2. Stir in 1/2 of the green onions (1/4 cup), the cheese, salt, and pepper.
  3. Let this sit in the fridge to chill while you prepare the potatoes.
  4. Wash, peel, and then cut potatoes into bite-sized pieces.
  5. Put cut potatoes into a large pot, cover with water, and boil until just fork tender, about 15-20 minutes. Don't over boil, or potatoes with mush and become loaded mashed potatoes.
  6. When potatoes are done, drain, and let cool.
  7. Put potatoes in a large bowl and combine with the sour cream mixture.
  8. Stir, or fold, in about 3/4 of the crumbled bacon.
  9. Top with remaining green onions and crumbled bacon.
  10. Serve chilled.

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