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!


This healthy fried rice recipe is quick, easy and made completely in the Instant Pot! The perfect combination of veggies, brown rice, eggs, veggie broth and soy sauce makes for the savory fried rice flavor you love without all those added fillers. Jazz up your dinner with this Healthy Instant Pot Fried Rice today!

1 cup long grain brown rice
1 cup vegetable broth
2.5 tablespoons olive oil, divided
10 oz. frozen mixed veggies
2 large eggs

1/4 cup low sodium soy sauce
1 teaspoon maple syrup
1 teaspoon sesame oil
1 teaspoon minced garlic

First, add 1 teaspoon of olive oil to the bottom of the Instant Pot. Make sure the bottom of pot (as well as the sides) are covered with olive oil.
Add rice and broth to the Instant Pot, cover, seal and cook rice for 26 minutes on high pressure.

While rice is cooking, add all ingredients for the fried rice sauce to a mason jar and shake until ingredients are combined. Set aside.
When rice is done, natural release pressure for 11 minutes.
Remove rice from the Instant Pot and make sure there is no rice left in the bottom of the pot.
Next, add 2 tablespoons of olive oil to the Instant Pot and turn on saute feature. Add vegetables and cook for 2-3 minutes. Push aside the vegetables to one half of the Instant Pot.
Crack 2 eggs into the other half of the Instant Pot and cook eggs until they form medium-sized scrambled egg curds, stirring frequently.
Add rice and fried rice sauce to the Instant Pot and fold ingredients together. Cook everything together in the pot for 2-3 minutes.
Garnish with fresh green onions and enjoy!


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