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!

ONE-POT VEGETARIAN SPAGHETTI



Vegetarian spaghetti makes an easy, healthy one-pot pasta dinner!

INGREDIENTS

2 teaspoons extra-virgin olive oil
1/2 medium yellow onion, chopped
1 (8 oz.) package button mushrooms, sliced
2 cloves garlic, minced
1/2 teaspoon salt
1/4 teaspoon black pepper
1/4 teaspoon red pepper flakes (optional)
2 cups low-sodium vegetable broth
1 (14.5 oz.) can fire-roasted diced tomatoes
10 oz. thin spaghetti noodles (I use whole wheat)
3 cups fresh spinach or baby spinach
1/4 cup grated Parmesan cheese, plus extra for serving
For serving: 1/4 cup fresh chopped basil or parsley (optional)

INSTRUCTIONS

Heat olive oil in a medium pot over medium heat. Add onion and mushrooms and saute for 5-7 minutes, until tender and the liquid from the mushrooms has been mostly cooked off.
Add garlic and season with salt, pepper and red pepper flakes (if using) and saute another 30 seconds.
Increase heat to high then add canned tomatoes and vegetable broth. Bring to a boil.
Add spaghetti noodles and stir until they wilt and fit in the pot. Cover the pot, reduce heat to medium-low and cook for 5 minutes. (Your liquid should be at a low boil this whole time.)
Remove lid and add fresh spinach, a couple of handfuls at a time, stirring to get the spinach mixed in and wilted.
Remove from heat and let spaghetti sit, covered, for a few minutes
Stir in Parmesan cheese, taste and adjust seasonings.
Serve with fresh basil or parsley and extra Parmesan cheese, if desired.

NOTES


You can substitute cremini or portobello mushrooms for the regular button mushrooms if you prefer. And you can add any extra veggies you have on hand: peppers, zucchini and broccoli would all be great. Add them with the onions and mushrooms and saute everything together until it’s slightly tender.

Some Parmesan cheese may not be considered strictly vegetarian (see the post above for details), so you can substitute an Italian-style hard cheese here. If you want to make this recipe vegan, just substitute nutritional yeast or your favorite vegan cheese in place of the Parmesan.

Or if you're not vegan or vegetarian, you can stir in some cooked, shredded chicken or rotisserie chicken with the spinach at the end to warm it through and make a more hearty meal.

You could also stir in 1-2 cups of mozzarella cheese if you want a super cheesy pasta.

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