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 BEEF POT ROAST RECIPE

Instant Pot Beef Pot Roast: a favorite family recipe for an extra flavorful tender beef pot roast that can be made in a crock pot or instant pot!

I am crazy excited to be sharing one of my favorite family recipes with all of you today. This pot roast is absolutely legendary. We make this Instant Pot Beef Pot Roast at least once a month on Sunday for a big family supper.

Sunday suppers, featuring a roast, started way before I was even born. My Mom always tells stories about my granny making a big gorgeous pot roast every single Sunday, without fail. I love carrying on that family tradition today.
Honestly, if I could give you a bite through the screen, you would have no idea it was made with those ingredients! They all combine to make the most incredible, full flavored, beef gravy and a super tender pot roast.

The coffee was added because my Granny makes an amazing roast with coffee, the wine and McCormick Brown Gravy Mixes are my Mom’s additions and the soy sauce was all me. This is absolutely a family effort recipe!

I know the soy sauce is the most out there ingredient, but you would never know it’s in there! When I was in high school, I worked at a high end Mexican restaurant in Texas. They used to use pineapple and soy sauce to marinade their beef fajitas. I added it on a whim once to our pot roast, in place of salt, and we never turned back.

INGREDIENTS:
  • 4 (1 oz) packets McCormick Brown Gravy Mix
  • 3 tablespoons corn starch
  • 1 cup brewed coffee
  • 8 oz red wine (cabernet)
  • 1/2 cup reduced sodium soy sauce
  • 3 tablespoons worcestershire sauce
  • 8 large cloves garlic, minced
  • 2 teaspoons freshly cracked black pepper
  • 2 tablespoons oil
  • 3 lb bottom round roast
  • 1 large bag carrots, peeled and roughly chopped
  • 1 large sweet yellow onion, roughly chopped
  • 2 cups sliced portobello mushrooms

DIRECTIONS:
  1. In a large bowl, whisk together McCormick Brown Gravy Mix and cornstarch. Slowly whisk in coffee so there are no lumps. Then whisk in wine, soy sauce, worcestershire sauce, garlic and black pepper. Set aside.
  2. Instant Pot Directions:
  3. Set instant pot to saute. Add oil to pot and quickly sear meat on all sides. Turn off saute.
  4. Top meat with carrots, onion and mushrooms. Pour gravy mix on top and place lid on Instant pot with steam valve closed.
  5. Turn Instant Pot on to manual and set for 105 minutes on HIGH pressure. Do a natural release for 15 minutes.
  6. Remove roast from instant pot, shred with forks. Stir gravy and vegetables to combine.
  7. Serve roast topped with gravy and vegetables over mashed potatoes.

Slow Cooker Directions:
In a large heavy bottomed pot over medium high heat, add oil. Add meat and quickly sear on all sides. Transfer meat to slow cooker.
Top meat with carrots, onion and mushrooms. Pour gravy mix on top and place lid on slow cooker.
Cook on low for 8 hours.
Remove roast from instant pot, shred with forks. Stir gravy and vegetables to combine.
Serve roast topped with gravy and vegetables over mashed potatoes.
This post is sponsored by McCormick. All opinions are, as always, 100% my own. Thank you for supporting the brands that I love!

Recipe Source:thenovicechefblog.com

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