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!

CHRISTMAS PASTA

This Christmas Pasta recipe is perfect for the holidays because it feeds a large crowd.



WHAT IS CHRISTMAS PASTA?

This recipe, originally created by Rachael Ray, serves two purposes. It’s pretty as a Christmas Pasta because of the red sauce and the green parsley garnish. And it’s a nice recipe for the holidays because there are usually quite a few people around, and this recipe makes enough to serve twelve people.

If you don’t have twelve people hanging around at the same time, that’s okay! Make the sauce recipe, and then make half of the pasta (16-ounces). The flavor of the pasta sauce totally improves the longer it sits. So if you serve some up one day and then finish it up a couple days later, that’s a good thing! You can also freeze half of the sauce if you don’t want to eat it all within a week’s time.
HOW TO FREEZE THE SAUCE:

Store extra sauce for this Christmas Pasta it in a freezer-safe container. Try to use it up within a couple of months. When ready to use, let it defrost in your refrigerator overnight. Then cook up some pasta, and use up the rest of your sauce.



WHAT KINDS OF MEATS ARE IN THE SAUCE FOR CHRISTMAS PASTA?

The sauce recipe for this pasta is a hearty meat sauce. The recipe for the sauce begins with cooking some pancetta in a skillet. Pancetta is cured pork belly (similar to bacon, except bacon is smoked after it’s cured). A lot of people mistake prosciutto for pancetta, but prosciutto is cured ham and it doesn’t have to be cooked before it is eaten. Pancetta (what is needed for this recipe) can usually be found near the prosciutto in a little package- and it’s usually already cubed. If you can’t locate it, ask the person at the deli. They might have it there.

This Christmas Pasta sauce also calls for both ground beef and ground pork. Usually you can buy both of these in a package of 16 ounces or so at your regular market. Since you only need 8-ounces of each, I suggest going to a market where they sell it by the pound. I know Whole Foods does this. Others probably do too. Or just buy 16-ounces of each, use half of each, and plan to freeze the rest for later. And finally, there’s some Italian sausage in the recipe too. You can use sweet Italian sausage, or you can spice things up a little and use hot Italian sausage.



WHAT KINDS OF PASTA WOULD BE GOOD FOR THIS RECIPE?

This Christmas Pasta recipe calls for penne pasta, but there are certainly other varieties of pasta that are good for pairing with a meat sauce like this one. If you want to try using another variety, I recommend using medium shells, campanelle, rigatoni, or orecchiette. Pappardelle (wide egg noodle pasta) is great for topping with meat sauce too, but it’s an entirely different kind of pasta than penne!




I love to make this pasta during the holidays because of the wonderful sauce. There are so many people in and out of my house during the holiday season that it is awesome to know I have something good to feed them when people show up unexpectedly. We usually make some sort of fancy dinner on Christmas Eve, and we do something low-key (like pasta) on Christmas night. This recipe is perfect for that.


It’s a nice recipe to use all year long too. My son (teenager) often brings friends over, and they’re inevitably starving. I can just boil some pasta and scoop a little sauce on top, and I’ve succeeded in feeding hungry boys!






CHRISTMAS PASTA

This pasta recipe is festive enough for the holidays, and it feeds a lot of people!

Course Main Course
Cuisine Italian
Keyword christmas pasta, christmas pasta recipe, holiday pasta recipe
Prep Time 25 minutes
Cook Time 25 minutes
Total Time 50 minutes
Servings 12 servings
Calories 587 kcal

INGREDIENTS
2 tablespoons extra virgin olive oil
4 cloves garlic, crushed
1 whole bay leaf, fresh or dried
4 ounces chopped pancetta
8 ounces sweet or hot Italian sausage
8 ounces ground beef
8 ounces ground pork
1 medium carrot, peeled & finely chopped
1 rib celery, chopped
1 medium onion, chopped
1 cup dry red wine
1 cup beef broth
2 32-ounce cans crushed tomatoes
1 handful chopped fresh Italian parsley
1/4 teaspoon ground allspice or ground cinnamon
kosher salt & freshly ground black pepper, to taste
32 ounces penne pasta, cooked to al dente
grated Parmesan, for serving (if desired)


INSTRUCTIONS

Heat a large pot over medium-high heat. Add the pancetta and brown to render the fat. Transfer the pancetta to paper towels to drain. Add the oil to the pan, and then the meats and brown and crumble them for 5 minutes. Stir in the garlic, and pancetta bits.

Chop the carrot, celery, and onions near the stove and add to the pot as you work. Cook the vegetables with the meat for 5 minutes and then add the wine. Cook for 1 minute; add the broth and tomatoes to the pot.

Stir in the parsley, allspice, or cinnamon and season the sauce with salt and pepper, to taste. Bring the sauce to a boil, reduce the heat to medium low, and cook 10 to 15 minutes, minimum, before serving. Reheated sauce only improves.

Toss the pasta (cook off only as much pasta as you need at the time: half a pound for every 3 people) with a couple of ladles of sauce to coat, then top the bowl with extra sauce. Top the pasta with lots of cheese, as desired.

RECIPE NOTES
Parmesan cheese is not included in the nutritional information.


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