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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!

IRISH COLCANNON

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All mashed potato fans are bound to love this traditional Irish side dish! With tender cooked cabbage mixed with creamy potatoes and topped with crispy, crumbled bacon, colcannon is the perfect side dish for any Irish cuisine.

Mashed potatoes have always been a favorite of mine, but when I discovered they could be even better? As in, creamy mashed potatoes with even better flavor and even better toppings?

Well, I simply had to try it. And, you guys – I was not disappointed.


Irish colcannon is not a new dish by any means, but if my upbringing is any indication, it doesn’t get near the attention it deserves. Maybe I’ve just been living under an Irish-free rock, but I didn’t discover it’s existence until my thirties.

These days I’ve been working on making up for all that lost time, because I can’t seem to get over the fact that for three decades I could have enjoyed tender cabbage and bacon with my mashed potatoes… but didn’t, because I didn’t know any better.

So, please, take it from me:

If you haven’t tried this traditional Irish dish yet, there’s no better time than the present, and you’ll be so glad you tried it. Your side dish game will never be the same.

All mashed potato fans are bound to love this traditional Irish side dish! With tender cooked cabbage mixed with creamy potatoes and topped with crispy, crumbled bacon, colcannon is the perfect side dish for any Irish cuisine.

INGREDIENTS
  •  8 cups water divided
  •  1/2 head cabbage roughly chopped
  •  6 medium russet potatoes peeled and quartered
  •  1 cup whole milk
  •  1/2 cup green onion chopped
  •  1 tsp salt
  •  1 pinch black pepper
  •  2 tbsp butter
  •  bacon cooked and crumbled (optional)
  •  fresh parsley for garnish (optional)
  •  butter for serving

INSTRUCTIONS
  1. In a large saucepan over medium heat, bring cabbage and 2 cups water to a boil. Reduce heat and allow to simmer, covered, until cabbage has cooked down (about 1/2 the original size) and is tender, about 10-15 minutes. Drain cabbage, but reserve water cabbage cooked in. Transfer cooked cabbage to a bowl, cover, and set aside.
  2. In a large stockpot, add cabbage water and potatoes, plus more water so that the top of the potatoes are covered. Bring to a boil over medium-high heat. Reduce heat and allow to cook, uncovered, until potatoes are tender, about 15-25 minutes.
  3. While potatoes cook, add milk, green onions, salt, and pepper to a small saucepan. Bring to a boil over medium heat and allow to simmer for 20 seconds, then remove from heat. Set saucepan nearby.
  4. Once potatoes are cooked, drain excess water and add potatoes to a large mixing bowl. Mash potatoes to desired consistency (having some lumps is okay).
  5. Add cooked cabbage and milk mixture to mashed potatoes, then gently stir to combine.
  6. Serve colcannon immediately with crumbled bacon, fresh parsley, and butter.
Recipe Source:homemadehooplah.com

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