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!

CLASSIC BOLOGNESE SAUCE (STOVETOP, INSTANT POT, AND SLOW COOKER INSTRUCTIONS)

Learn three ways to make Classic Bolognese Sauce with instructions for the stovetop, Instant Pot, and slow cooker. This traditional Italian red sauce is savory, rich, and full of flavor.

We love going back to the classic recipes, because they do not disappoint. This traditional red meat sauce requires a long simmer, but it is worth the time to really bring out those flavors. We know that sometimes there just isn’t the time, so we’ve got you covered with slow cooker and instant pot instructions as well.

History Lesson: Bolognese sauce comes from the city of Bologna, Italy in the late 1800s. Outside of Italy, ‘Bolognese sauce’ often refers to any tomato based sauce with minced beef or pork. However, in Bologna it is taken quite seriously and a very specific recipe is used. The local government even gave their stamp of approval! Our recipe follows along closely with the official government-approved recipe. We love the additional flavor that herbs bring, so we do offer additional variations.

Learn three ways to make Classic Bolognese Sauce with instructions for the stovetop, Instant Pot, and slow cooker. This traditional Italian red sauce is savory, rich, and full of flavor.

INGREDIENTS :

  • 1 pound ground sweet Italian sausage
  • 1 pound lean ground beef
  • 1 large white onion diced
  • 1/4 cup finely diced carrot
  • 1/4 cup finely diced celery
  • 5 cloves garlic minced
  • 6 ounce can tomato paste
  • 28 ounce can crushed tomatoes
  • 1 cup beef broth
  • 1/2 cup white wine
  • 1/4 teaspoon salt
  • 1/4 teaspoon ground black pepper
  • 1/2 cup chopped fresh basil (optional)
  • 1/4 cup chopped fresh parsley (optional)
  • 1 teaspoon dried oregano (optional)
  • 1 cup whole milk



INTRUCTIONS :

  1. In a large pot over medium heat, add in ground sausage and ground beef. Use a spoon to break up the meat into small pieces. Brown 5 minutes. Drain off any excess grease.
  2. Add in onion, carrot, and celery and cook another 5 to 7 minutes until onions are soft and meat is cooked through.
  3. Add in garlic and tomato paste and garlic and cook 2 minutes, until tomato paste starts to toast.
  4. Pour in crushed tomatoes, white wine, beef broth, and milk. Stir in fresh basil, parsley, and oregano (if using) and season with salt and pepper. Herbs are optional for additional flavor, but not a part of traditional bolognese sauce.
  5. Stir well and bring to a simmer. Reduce heat to low and simmer, covered, 1 to 4 hours, stirring occasionally. Flavors will continue to develop the longer you allow the sauce to simmer, so simmer for up to 4 hours if time permits.
  6. Taste and add more salt and pepper to suit personal taste preference.


Recipe Adapted From Classic Bolognese Sauce

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