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!


Tender, spicy, slow cooked beef barbacoa stuffed into a tortilla and fried to crunchy perfection, then smothered in a velvety smooth white queso… perfect beef chimichangas.
Spicy, slow cooked beef barbacoa stuffed into a tortilla and fried to crunchy perfection, smothered in a velvety smooth white queso... perfect chimichangas!

  • 4 lb chuck roast
  • 2 Tbsp vegetable oil
  • 1/3 cup apple cider vinegar
  • 5 cloves garlic minced
  • 4 tsp cumin
  • 2 tsp oregano
  • 1/4 tsp ground cloves
  • 1 tsp black pepper
  • 1 tsp kosher salt
  • 3/4 cup beef stock
  • 3 Tbsp freshly squeezed lime juice
  • 3-4 chipotle chiles in adobo sauce + 2 tsp of the adobo sauce add more if you want it spicier
  • 1 4 oz can of green chiles drained
  • 2 bay leaves
  • 3/4 lb high quality white american cheese shredded or finely chopped
  • 1/2 lb high quality fontina cheese shredded
  • 1 cup half-and-half
  • 2 Tbsp canned jalapenos finely chopped
  • 1/2 tsp cumin
  • 1/2 tsp ground nutmeg
  • 3/4 tsp red pepper flakes
  • 1/4 tsp salt
  • 1/4 tsp black pepper
  • chopped cilantro tomatoes, and jalapenos for garnish, optional
  • Large flour tortillas
  • Queso Fresco cheese possibly found in the refrigerated section of the Mexican foods aisle - can substitue Cotija or shredded Monterey Jack
  • Pico de Gallo or your favorite salsa
  • Diced avocado
  • Minced fresh cilantro
  1. Trim excess fat from the roast and cut into 8 large pieces. Pat dry and season liberally with salt and pepper.
  2. Add vegetable oil to a large, heavy pan, and heat over MED-HIGH heat. Once oil is shimmering, add half the meat to the pan, leaving room in between each piece. Let meat sear on one side without moving it for several minutes. If you try to flip the meat and it sticks to the pan, let it cook a little bit longer. It will release on it's own when it's ready to flip.
  3. Sear all sides of the meat, remove to a plate, and repeat with remaining half of meat.
  4. Add all meat pieces to the bottom of slow cooker, making sure to add any drippings from the plate, that's extra flavor!
  5. Add vinegar, garlic, cumin, oregano, cloves, pepper, salt, beef stock, lime juice and chipotle chiles to a blender and puree until smooth. Stir in drained green chiles.
  6. Pour sauce over meat in slow cooker, turn to fully coat meat in the sauce, then add bay leaves.
  7. Cover, and cook on LOW for 10 hours (or HIGH for 6 hours).
  8. Remove bay leaves.
  9. Remove meat to a large bowl and shred. Return meat to the slow cooker and heat on LOW in the sauce, uncovered, for 10 minutes.
  1. Prepare ingredients and set aside.
  2. Add half and half to a saucepan and heat over MED heat until JUST simmering.
  3. Reduce heat to LOW and stir in 1/3 cheeses, mixing well until smooth. Repeat with another 1/3 of the cheeses, and then a final time with the remaining 1/3.
  4. Stir until cheeses are completely melted, then stir in jalapenos, cumin, nutmeg, red pepper flakes, salt and pepper.
  5. If cheese starts to get too thick or seize up, stir in additional half and half until it reaches desired consistency.
  1. Heat 1-2 inches of vegetable oil (or canola, peanut, etc) over MED heat in a cast iron skillet (or whichever skillet you use to fry).
  2. To test to see if the oil is ready, rip off a small piece of flour tortilla and toss it in the oil... it should bubble and slowly turn golden brown.
  3. Lay out a flour tortilla, add several spoonfuls of shredded beef barbacoa to the tortilla in a horizontal line, leaving an inch or so of border on the sides.
  4. Top beef with a handful of Queso Fresco cheese.
  5. Roll the tortilla as you would a burrito, up from the bottom over the meat and cheese, fold the sides in, then continue rolling upward.
  6. Place chimichanga seam side down in the oil and let it fry for about 1-2 minutes, then carefully flip it over and fry an additional minute or so.
  7. Remove to a paper towel lined plate to drain and cool.
  8. Repeat with remaining chimichangas.
  9. To serve, top chimichanga with queso, queso fresco cheese, minced cilantro, pico de gallo and diced avocado.
Recipe Adapted From


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