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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 IRISH COLCANNON

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Colcannon is an Irish staple and is the perfect St. Patrick’s Day side dish. Creamy buttery mashed potatoes plus leeks, garlic, and cabbage—you can’t go wrong with this savory Irish dish!

With St. Patrick’s Day right around the corner, I thought I’d try and make one of my favorite Irish dishes in my Instant Pot!

Colcannon is an Irish staple—historically made to fill the bellies of the working class without costing an arm and a leg. Colcannon is buttery mashed potatoes with some sort of leafy green. I used napa cabbage, but you could use green or savoy cabbage, or even spinach or kale. It’s great alongside a roast or pork chops. This version is adapted for the Instant Pot from this Bon Appetit recipe.

\The Instant Pot is perfect for making colcannon. First you’ll pressure cook the potatoes, then you’ll sauté the greens and garlic and mash it all together in the pot. I love that it doesn’t use a bunch of dishes—we serve it right out of the Instant Pot itself.

Colcannon is an Irish staple and is the perfect St. Patrick's Day side dish. Creamy buttery mashed potatoes plus leeks, garlic, and cabbage—you can't go wrong with this savory Irish dish!

INGREDIENTS
  • 6 Yukon Gold potatoes medium, peeled
  • 3/4 cup water
  • salt
  • 6 tbsp butter divided
  • 3 leeks green and light-green parts only, sliced
  • 3 garlic cloves thinly sliced
  • 2 packed cups napa cabbage thinly sliced or shredded
  • 1 1/4 cups milk
  • 1/2 cup heavy cream
  • Pepper
  • 2 green onions thinly sliced

INSTRUCTIONS
  1. Place the trivet in the Instant Pot and add the water to the pot. Add the potatoes and season with salt. Close the Instant Pot and make sure the valve is set to "sealing." Using the "manual" setting, decrease the cooking time to 6 minutes. Cooking will begin automatically and the pot will show the time remaining once full pressure is reached. When the time is up, use the quick release to release the pressure. Remove the potatoes from the pot and set aside.
  2. Set the Instant Pot to "sauté." Melt 4 tablespoons butter in the pot.
  3. Add the leeks and cook, stirring frequently, until soft, 6 minutes.
  4. Add garlic and cook, stirring frequently, until garlic is fragrant and leeks are just beginning to brown around the edges, about 3 minutes longer.
  5. Add the cabbage and cook, stirring constantly, until wilted.
  6. Add milk and cream and bring to a simmer, stirring frequently.
  7. Add potatoes and mash with a potato masher. Season with salt and pepper.
  8. Top with remaining 2 Tbsp. butter and sprinkle with scallion.
RECIPE NOTES
You don't have to peel the potatoes. If you use the skins, however, cut the potatoes in half before putting them in the Instant Pot so they cook all the way through.

Recipe Source:heyletsmakestuff.com

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