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!

Mushroom and Garlic Spaghetti Dinner

Mushroom and Garlic Spaghetti Dinner

When I want to impress people with a meatless dinner, I almost always include lots of mushrooms in the equation. Their umami-rich flavor and meaty texture have a way of winning over even the most staunch meat eater at the table. This vegetarian pasta proves this point: A slew of mushrooms are sautéed with a mix of olive oil, butter, and lots of garlic to become a rich sauce for simple spaghetti. Extra nutty, salty Pecorino Romano cheese replaces the usual Parmesan to up the savory factor of the pasta even further and make it one anyone with a fork in their hand will want to twirl. Oh, plus there's the added bonus that this dish comes together in just about 15 minutes.

An Umami-Loaded Pasta That Skips the Meat
Umami, or that rich, savory flavor that makes so many dishes irresistible, is easy to find in meat and fish, but it's not always apparent in vegetable-based dishes. Luckily, mushrooms are packed with it. Dairy ingredients, like butter and cheese, are also full of it. Put them together and you're looking at a solid situation for your taste buds. These flavors make for a pasta that tastes deeply satisfying, and yet the recipe is almost too easy to throw together. That means this is a meal you'll turn to again and again.

Mushroom and Garlic Spaghetti Dinner
Serves 4 to 6
Ingredients:

1 pound dry spaghetti
3 tablespoons unsalted butter, divided
1 tablespoon olive oil
1 pound cremini mushrooms, sliced
Kosher salt
Freshly ground black pepper
6 cloves garlic, minced
1/4 teaspoon red pepper flakes (optional)
1/2 cup grated Pecorino Romano cheese, plus more for serving
2 tablespoons coarsely chopped fresh parsley leaves
Directions:

Bring a large pot of salted water to a boil. Add the pasta and cook until al dente, 7 to 9 minutes or according to package instructions. Meanwhile, cook the mushrooms.
Heat 1 tablespoon of the butter and the oil in a large skillet over medium heat until shimmering. Add the mushrooms, season with salt and pepper, and sauté until browned and tender, about 5 minutes. Add the garlic, red pepper flakes if using, and remaining 2 tablespoons butter and sauté for 1 minute more.
When the pasta is ready, reserve 3/4 cup of the cooking water, then drain the pasta. Add the pasta, reserved cooking water, and cheese to the skillet. Toss over medium heat until the cheese is melted and the sauce thickens and coats the pasta, about 2 minutes. Add the parsley and toss to combine. Serve in shallow bowls with more cheese for serving.
Recipe Notes
Storage: Leftovers can be refrigerated in an airtight container for up to 4 days.

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