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 Hawaiian BBQ Chicken recipe

One of the fastest chicken dinners I make during summer is a slow cooker BBQ chicken. It is as easy as placing chicken in the crock pot and topping it with BBQ sauce. I jazzed up the idea and converted it to use in my Instant Pot and now I have a new family favorite! And it’s as easy yet much faster to make!
Course: Dinner, Main Course
Cuisine: American
Keyword: chicken, Instant Pot, pressure cooker
Servings: 4 people
Calories: 349 kcal

Prep Time
5 mins
Cook Time
12 mins
coming to pressure
15 mins
Total Time
17 mins


2 boneless skinless chicken breasts
1 cup pineapple chunks
1/2 cup pineapple juice
1.5 cups BBQ sauce


Make sure the stainless steel insert is in your Instant Pot. Place chicken breasts on the bottom of the insert. Add pineapple juice and stir. Arrange pineapple chunks over chicken and along side, make sure no chunks are under the chicken.
Pour BBQ sauce over chicken. Do not stir.
Place lid on your Instant Pot, switch the valve to "sealing" position. Press "manual" button and adjust timer to 12 minutes. The IP will beep shortly and start coming to pressure.
When the timer is done, the IP will beep. Press "cancel/off" button. Carefully, switch the valve to "venting" position to release the pressure.
When all pressure is released, carefully and away from your face, open the IP. Remove chicken breast onto a plate and shred or pull with two forks.
Return chicken to IP and stir with the sauce.
If the sauce is too runny to your likings, you can set the IP to saute function and let the chicken simmer for a few minutes until the sauce thickens.
Serve in buns, topped with coleslaw, if desired.

Recipe Notes

I like to serve the pulled BBQ chicken in a bun, topped with a simple coleslaw. You can serve potato wedges, fries or potato salad along side. I also love to make baked potatoes and top them with this Instant Pot Hawaiian BBQ Chicken. So delicious!

I used canned pineapple, because it's easy. For two chicken breasts, I used only 1/2 cup of the juice and 1 cup of pineapple chunks. You can use the whole 21 ounce can for a double amount of chicken. You can use fresh pineapple as well! Simply chop it into bite size pieces, add 1 cup of them to the IP. Use store bought pineapple juice or use chicken stock.


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