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!

CORN SOUP WITH SHRIMP AND ROASTED POBLANO

A creamy sweet corn soup with shrimp and roasted poblano chili!
This post is sponsored by Holland House Cooking Wine!

If I had to choose, making soup would be in my top three fav things to make in the kitchen. I used to think it was a major chore to create soup after growing up and watching my mom take all day to make it. I’m not knocking it, that soup was awesome, but you can also create your own amazing just by following a few simple rules.

Pick a few veggies that sound like they’ll love to be cooked together, and see if any of them can be roasted. Roasting intensifies the flavor and that’s what you need to take your soup from zero to hero! Add some spices and stock and after a short time on the stove, throw everything into your blender and purée until super smooth. That’s it aside from some heavy cream and a garnish to make it complete.
I’ve never made a corn soup before though, but I had an idea in my head that was screaming southwestern-ish and that big poblano chili was perfect for roasting. You can roast it right on top of an open flame gas burner, it might get smoky but the flavor is so worth it! Adding some Holland House White Cooking Wine made sure that the soup didn’t become overly sweet, It gave the soup a little sharpness and took away some of the sweetness from the corn.

If you’re experiencing any snow yet, then you should really make a giant pot of this corn soup! I bet it would still be awesome if you added scallops and whitefish as well as the shrimp, and turned the whole thing into an epic chowder.
Stay warm guys and let me know if you make this soup or any Foodness Gracious recipes by using #foodnessgracious in your social media!

CORN SOUP WITH SHRIMP AND ROASTED POBLANO 

COURSE: SOUP

CUISINE: AMERICAN

PREP TIME: 20 MINUTES

COOK TIME: 30 MINUTES

TOTAL TIME: 50 MINUTES

SERVINGS: 8 PEOPLE

CALORIES: 185 KCAL

AUTHOR: FOODNESSGRACIOUS
A thick creamy soup full of spices, corn, and poblano chili. Add some juicy shrimp to create an amazing soup for a winters day!
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INGREDIENTS

  • 2 tbsp olive oil
  • 1 whole onion diced
  • 2 whole garlic cloves, minced
  • 2 whole tomatoes, diced with seeds removed
  • 2 cups corn kernels, frozen or canned
  • 1 tsp ground cumin
  • 1/2 tsp chili powder
  • 1 medium poblano chili
  • 3/4 cup chopped cilantro
  • 2 tbsp Holland House White cooking Wine
  • 2 1/2 cups veggie or chicken broth
  • 1/2 cup heavy cream
  • 6 large shrimp, peeled

INSTRUCTIONS

  1. In a pot heat the olive oil and add the diced onion. Stir until soft.

  2. Add the garlic, tomatoes, corn, cumin, chili powder, salt, and pepper. Stir well and cook for a few minutes.
  3. Roast the Poblano over a gas flame until black. Place in a sandwich bag and seal to steam the chili.
  4. After a few minutes the skin should come right off and then you can roughly chop the poblano and add to the pot with the cilantro and white cooking wine.
  5. Stir and add the broth then simmer for 20 minutes.
  6. Transfer the whole mixture to a blender and puree until very smooth.
  7. Place the pureed soup back into the pot and add the heavy cream.
  8. Add more salt and pepper if needed.
  9. Stir and keep warm on a low heat until the shrimp are ready.
  10. In a separate pan cook the shrimp and then roughly chop them into large chunks.
  11. Add the shrimp to the soup and serve. Garnish with extra cilantro and fresh corn if desired.

RECIPE NOTES


Nutrition Facts
Corn Soup with Shrimp and Roasted Poblano
Amount Per Serving
Calories 185
* Percent Daily Values are based on a 2000 calorie diet.
more recipes @ foodnessgracious.com

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