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!

Roast Beef Pho Sandwich With Herbs, Sriracha + Hoisin





Total:25 mins
Prep:15 mins
Cook:10 mins
Yield:1 8-inch sandwich (1 serving)

Pho is a classic Vietnamese soup that's packed full of complex Eastern flavors. Traditionally it's made with various cuts of beef boiled in an aromatic broth containing cinnamon, cloves, fennel, star anise, ginger and charred onions. The resulting flavors create a perfect blend of sweet, savory, spicy, meat-y and herbacious notes that work beautifully together.

This sandwich recipe, inspired by the infamous Pho #1 sub from Sunny and Annie's Deli in the East Village of New York City, packs all of those distinctive flavors into one perfectly portable sandwich. And who doesn't like pho on the go?

When making this sandwich, you'll see in the directions below that there are two different ways that you can serve it -- hot or cold. They are both totally mind blowing but we at The Spruce always say hot all day! And if you're a vegetarian, skip the beef and add extra avocado or smokey grilled tofu with hoisin sauce.




Ingredients
1 8-inch french baguette
1 tbsp. Sriracha
1/4 red onion (finely shaved)
1/2 beefsteak tomato (large) (cut into 1/4" thick slices)
1/4 cup bean sprouts
1/2 avocado (sliced)
1/4 cup cilantro leaves (fresh)
1/4 cup basil leaves (fresh)
1/2 lb. roast beef
3 tbsp. hoisin sauce

Steps to Make It
Begin by slicing your baguette in half. Place the bread in the center of a large sheet of parchment paper. Smear one side with Sriracha and place the onions on the other side.

Add tomatoes and avocado to the Sriracha side and add the sprouts to the red onion side.

If you want the sandwich served cold, place the roast beef on top of the of the tomatoes and drizzle with all of the hoisin sauce.

If you want the sandwich served hot, roughly chop the roast beef and throw it in a nonstick pan over medium-high heat. Let the roast beef cook for about 5 minutes or until it begins to brown and crisp up. Add in the hoisin sauce and toss to coat.

Add the roast beef on top of the tomato/avocado side and top with cilantro and basil.

Carefully fold the sandwich together and tightly roll the sandwich in the parchment paper, tucking the sides underneath. Using a serrated knife, slice the sandwich down the middle. Either bake the sandwich at 375 for 15 minutes if you want it hot or serve it immediately if you want it cold.


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