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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 ROASTED POTATOES

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This recipe for “roasted” potatoes in the Instant Pot is now my “go to” side dish recipe. The ingredient list is short, the steps are simple, and the outcome is a huge bowl of the most moist, creamy and delicious potatoes. More on that in a minute.

While you could certainly use just about any kind of potato to cook in your Instant Pot, I find russet potatoes to be the best. They’re very affordable and I almost always have a sack of russet potatoes at home. I love them for many reasons, the most of which is the taste and texture. Russet potatoes naturally have a soft and creamy texture when properly cooked. And when they’re cooked in a pressure cooker, it infuses the flavors of everything, especially the chicken broth we use as the liquid.

The recipe uses 6 medium russet potatoes which should come in right around a pound and a 1/2. If you’re over or under a little, no worries, you can always add or subtract a little of the seasonings depending on taste. But 6 medium sized potatoes is the perfect starting point. Cutting them into wedges is simple… just cut the potatoes in “slices” of about 1/2 inch thick, then quarter those slices. Voilà! You’ve now got perfect potato wedges. Next they will be sauteed in your Instant Pot with a little oil for 6 minutes. This will give the outer layer of the potatoes just a bit extra to hold up under the pressure cooking and help to NOT turn them into mashed potatoes. After sauteeing, mix in all your seasonings, except the fresh parsley, pour in your chicken broth, and set to pressure cook for 6 minutes. Do a QPR (quick pressure release) after the 6 minutes. Remove lid carefully, add fresh parsley and your potatoes are ready to serve! The potatoes in the picture are my Instant Pot Roasted Potatoes recipe. Give those a try too!

INGREDIENTS
  • 1½ lbs russet potatoes (about 6 medium potatoes)
  • ¼ cup vegetable oil
  • 1 cup chicken broth
  • 1½ teaspoons Lawry's Seasoned Salt
  • ½ teaspoon fresh ground black pepper
  • ½ teaspoon paprika
  • 2 tablespoons fresh chopped parsley

INSTRUCTIONS
  1. Rinse and scrub potatoes. Cut into wedges.
  2. Heat oil in Instant Pot on saute setting. When oil in hot, carefully add potatoes. Saute for 7 minutes stirring with a wooden spoon often.
  3. After 7 minutes hit cancel and add seasonings, except parsley and toss potatoes well. Add chicken broth and secure lid. Use manual (pressure cook) setting for 6 minutes.
  4. Do a quick pressure release and when pin drops, carefully remove lid. Add parsley flakes and serve.
Recipe Source:recipeteacher.com

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