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!

Healthy Garlic Scallops Recipe

Healthy Garlic Scallops Recipe
Scrumptious garlic scallops recipe, seared to perfection in a cast iron pan and cooked in a healthy clarified butter for the ultimate seafood meal!
Healthy Garlic Scallops Recipe
Prep Time 5 mins
Cook Time 5 mins
Total Time 10 mins
Italian garlic scallops, seared to a golden perfection in a cast iron pan and cooked in healthy clarified butter for the ultimate seafood meal!
Course: Main Dishes
Cuisine: Italian
Servings: 2
Author: Florentina

Ingredients
  • 1 lb large scallops
  • 1/4 c clarified butter ghee
  • 5 cloves garlic grated
  • 1 large lemon zested
  • 1/4 c Italian parsley roughly chopped
  • 1/2 tsp sea salt + more to taste
  • 1/4 tsp peppercorn medley freshly ground
  • 1/4 tsp red pepper flakes
  • A pinch of sweet paprika
  • 1 tsp extra virgin olive oil
Instructions
  1. Make sure to pat dry the scallops on paper towels very well before cooking.
  2. Heat up a large cast iron skillet on medium flame.
  3. Meanwhile in a medium bowl toss the scallops with a drizzle of olive oil or butter ghee, just enough to coat it all over. Sprinkle them with the sea salt, cracked pepper, red pepper flakes and sweet paprika. Toss to coat gently.
  4. Add a little drizzle of butter ghee to the hot skillet, just enough to coat the bottom. Add the scallops making sure not to overcrowd the pan, and sear for about 2 minutes on each side until nicely golden. ( Use a small spatula to flip them over individually )
  5. Add the butter ghee to the skillet with the scallops and then add the garlic. Remove from heat and using a spatula push the garlic around to infuse the sauce for about 30 seconds. The heat from the skillet will be enough for the garlic to work its magic into the butter. This is how you avoid that pungent burnt garlicky taste we don’t like.
  6. We are just looking to extract all that sweetness from the garlic, and this is how you do it, without burning.
  7. Squeeze half of the lemon all over the scallops and move the skillet around a little so it combines with the butter. Sprinkle with the minced parsley, lemon zest and a drizzle of extra virgin olive oil. Serve with crusty bread or al dente capellini noodles.
Recipe Notes
If serving with capellini noodles, make about 1/4 pound per person, and stretch the sauce with some of the pasta water the noodles cooked in.

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