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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 LOADED POTATO SOUP (WITH A SLOW COOKER VERSION)

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This Instant Pot Loaded Potato Soup is creamy, delicious, and tastes like you slaved over it all day! It’s easy to prepare and is ready in a flash thanks to the Instant Pot.

Ingredients

1 Tablespoon butter
1 medium onion, diced
3 cloves garlic, minced
3 cups chicken broth
1 can/box cream of chicken soup (I prefer Pacific Foods brand)
7-8 medium sized russet potatoes, peeled and chopped into 1 inch cubes (about 2.5 pounds of potatoes)
1 1/2 teaspoons salt (or more/less to taste)
black pepper to taste (I like a lot of pepper)
1 cup milk
1 tablespoon flour
2 cups shredded cheddar cheese (I use sharp cheddar)

Garnish:
5-6 slices bacon (cooked and chopped)
sliced green onions
shredded cheddar cheese

Instructions

Add butter to the Instant Pot and turn on the sauté button. Once butter is melted, add in the onions and cook for 3-4 minutes until soft. Add in the garlic and cook for one additional minute until fragrant, stirring constantly so that garlic does not burn.


Add the chicken broth, cream of chicken soup, potatoes, salt, and pepper to the pot, and stir well. Place the lid on the Instant Pot and turn the vent valve to "sealing." Cook over manual high pressure for 10 minutes, then quick release the pressure.
Meanwhile, stir together the milk and flour in a small bowl to create a slurry. Set aside.
Once the steam has completely released and the pin has dropped on the lid, open the lid and stir in the slurry. Turn the pot to sauté and cook the soup for 4-5 minutes, until thickened. Stir in the 2 cups of cheddar cheese and stir until melted. Serve garnished with chopped bacon, green onions, and more cheese. Enjoy!


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