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!

instant pot creamy mushroom wild rice soup



DESCRIPTION

Wild Rice Soup in the Instant Pot! So creamy and simple and ready in an hour. Perfect for fall/winter nights!

INGREDIENTS

For the Instant Pot:
5 medium carrots, chopped
5 stalks celery, chopped
half of an onion, chopped
3 cloves garlic, minced
1 cup uncooked wild rice (see notes)
8 ounces fresh mushrooms, sliced
4 cups vegetable or chicken broth
1 teaspoon salt
1 teaspoon poultry seasoning (see notes)
1/2 teaspoon dried thyme

For the Stovetop:
6 tablespoons butter
1/2 cup flour
1 1/2 cups milk (I used 2%)

INSTRUCTIONS
Instant Pot: Put all the ingredients in the first list into the Instant Pot (affiliate link). Cook for 45 minutes (manual, high pressure). Release steam using the valve on top.
Stovetop: When the soup is done, melt the butter in a saucepan. Whisk in the flour. Let the mixture cook for a minute or two to remove the floury taste. Whisk the milk, a little bit at a time, until you have a smooth, thickened sauce. Throw a little salt in there for good measure.
Together: Mix the creamy sauce with the soup in the instant pot. Voila! Mushroom Wild Rice Soup.


NOTES

Cook Time: If you’re short on time, 30 minutes should do the trick as well!
Please use actual wild rice! (affiliate link) I know it’s on the expensive side, and hard to find, and I’m normally all about the substitutions, but in this case, it is not the same. Don’t use brown rice, don’t use white rice, and don’t use a “wild rice blend” which is just white or brown rice with a few flecks of wild rice. Use straight WILD RICE. Chicken can be added – just pop it in the instant pot with everything else and shred it when it’s done. Poultry seasoning is usually a mix of thyme, sage, garlic, onion, etc. I used a “chicken grilling spice” in one of my test batches and it tasted great. Anything with those earthy spices – thyme, sage, maybe even rosemary – will work nicely. Crockpot version: Check out this recipe. Stovetop version: Saute carrots, celery, onion, garlic, and mushrooms with oil. Add wild rice, broth, and salt. Simmer until wild rice is cooked (1-2 hours). Make the roux and mix it in.

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