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!

NORWEGIAN COLESLAW

Norwegian coleslaw is a classic recipe. The slaw has a subtle sweet and sour flavor. The sweet comes from sugar and the sour from vinegar. This is a recipe that gets better with time, so it is actually best to make a few days in advance.

We served this Norwegian coleslaw as a side dish to our seafood feast, and it was a nice accompaniment to all the rich seafood, mayo and butter.

Have you seen a cabbage shredder before? It is in the background of the photo, pretty cool!





Norwegian Coleslaw

Please note prep time does not include refrigeration time which is a minimum of 24 hours however longer is better.

Course Salad
Cuisine Norwegian
Prep Time 20 minutes
Cook Time 10 minutes
Total Time 30 minutes
Servings 12


Ingredients
1 head of cabbage
1 Tablespoon salt
1 1/2 Cups sugar
1 Cup white vinegar
1 teaspoon mustard seeds
1 teaspoon celery seed
2 Cups celery chopped
1 green pepper chopped
1 red pepper chopped
2 carrots shredded

Instructions
Shred cabbage and toss with salt
cover and refrigerate for at least a couple of hours
While the cabbage is in the refrigerator, in a saucepan, heat the sugar, vinegar, and seeds.
Simmer for 10 minutes
Cool completely
Add to the cabbage along with the rest of the vegetables
Stir well
Cover and refrigerate for at least 24 hours however longer is better


It will keep up to 2 weeks in the refrigerator


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