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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!

TURKEY ENCHILADA QUINOA SOUP

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Thanksgiving is Thursday. It’s time to talk leftovers!!

I know there are plenty of you out there whose favorite part of Thanksgiving are the leftovers. Personally, I am much more a fan of the feast itself, but that doesn’t mean I don’t love leftovers too! I actually make an entirely extra bird just for the sole purpose of having leftovers! Like the rest of the world, my family loves those extras, and I always find it very much appreciated if I can send some good food home with guests. Therefore, a second bird is totally needed!

While we do make plenty of turkey sandwiches (another favorite way to use up extra turkey), sometimes when creating a recipe for leftovers, I’ll keep things simple and do something inspired by chicken noodle soup. Other years I like to have a little fun, and create something somewhat different. Enter this turkey enchilada quinoa soup, hearty, slightly spicy, full of healthy quinoa, studded with shredded turkey, and topped with avocado…oh, and fried tortilla chips! It is everything!

Beyond the amazing flavors, the second best part of this soup is that it comes together in NO time! As long as you have your turkey and some Old El Paso Enchilada Sauce on hand, you’ll have the basic ingredients needed to make a delicious soup! OK well, I did add a few other ingredients, but the most important ones are the turkey and the enchilada sauce!


If you don’t have any quinoa on hand, just use leftover wild rice – that would be equally delicious! Finish the soup off with a hefty topping of cheddar cheese, avocado and tortilla chips. Then sit back and enjoy Thanksgiving leftovers in a whole new way!

PS. are you guys preparing for the big feast today? I was so unprepared this year and only bought my turkey yesterday, but the planning is now in motion! How about you guys…menus set? Make sure to leave a space for an easy appetizer and roll, because that’s what’s coming up this week. YESS!



THE RECIPE
TURKEY ENCHILADA QUINOA SOUP

Course: main course, soup
Cuisine: american, mexican
Keyword: enchilada, quinoa, turkey


Perfect for leftovers
prep time 10 minutes
cook time 20 minutes
total time 30 minutes
servings 6 servings
calories 312 kcal


INGREDIENTS

2 tablespoons olive oil
1 small sweet onion
1 sweet potato chopped (peel if you’d like)
3 cups low sodium chicken broth plus more if needed
3 ounce cans Old El Paso Enchilada Sauce 10
1 ounce can Old El Paso Chopped Green Chiles 4
½ cup dry quinoa
1-2 cups shredded turkey may also use shredded chicken
1 ounce can black beans drained and rinsed, 14
1-2 cups shredded cheddar cheese
diced avocado cilantro, and tortilla crisp/chips, for serving


INSTRUCTIONS

Heat the oil in a large stockpot over medium-high heat. When the oil shimmers, add the onion and sweet potatoes. Season with salt and pepper and cook for 5-8 minutes or until softened and the onion fragrant. Slowly pour in the chicken broth, enchilada sauce, green chiles, and 1 cup water. Bring the mix to a boil over high heat. Add the quinoa, cover and reduce the heat to low. Cook for 15 minutes or until the quinoa is soft. Stir in the turkey, black beans, and 1 cup cheddar cheese. Cook until the cheese is melted and the turkey warm, about 5 minutes. Remove from the heat.
Ladle the soup into bowls, garnish with avocado, cheddar cheese, cilantro and chips. Eat!

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