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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!

NIGERIA: AKARA

, Edit
Akara is a snack that is originally from Nigeria but that has migrated to a number of West African countries as well as Brazil.

It is a traditional snack from Nigeria that is also popular in Ghana, Togo, Benin, Mali and The Gambia. It is actually a fried cake or fritter that is a common breakfast staple or fast food. In most recipes, black-eyed peas are used. When they are not available, any other related bean such as cowpea can be used. Usually, the beans are soaked overnight so that the outer skin is removed. Then the beans are ground, seasoned with spices, and finally deep-fried.

In Salvador-Bahia in Brazil, it is called acaraje and it is the popular fast food or snack made by baianas, the folkloric black women who dress in traditional white lace tops and large flowered skirts.

The first time I virtually traveled to Nigeria for 196 flavors, I also made a recipe that is popular in Brazil, a vegan and gluten-free cookie called beju.

Acarajé was first sold during colonial times by freed slaves. These became an important source of income for former slaves after the abolition of slavery in 1886. Acarajé has a sacred origin associated with the divinities of Candomblé, an Afro-Brazilian religion brought by the West African slaves.

Ingredients
  • 2 cups dry black-eyed peas
  • 1 Scotch Bonnet pepper (or habanero pepper), deseeded and chopped (optional)
  • 2 shallots chopped
  • 1 beef stock cube , ground (optional)
  • ½ teaspoon salt
  • Vegetable oil (for frying)

Instructions
  1. Soak black-eyed peas overnight in a large pot of water.
  2. Drain and add water again to cover.
  3. Loosen black-eyed beans skins by rubbing the beans between your hands. Alternatively, you can speed up the process by putting the beans in the food processor with just a little water and pulsing briefly 3 to 4 times.
  4. Transfer the beans to a food processor. Add about ½ cup of water for every 2 cups of beans. Puree until smooth and creamy. You may need to add a little more water to reach the right texture. Add hot pepper and shallots and blend again.
  5. Put the bean paste in a bowl and mix well. Season to taste and mix again.
  6. In a large pan, heat vegetable oil to 370 F. Form balls of paste with a spoon and carefully dip them into the pan. Fry until browned evenly on all sides.
  7. Place on a dish lined with paper towel. Serve hot alone or with a dipping sauce.
More Delicious Recipe NIGERIA: AKARA@196flavors.com

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