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!

NORTHERN-STYLE VEGAN THAI COCONUT SOUP

This Northern-style vegan Thai coconut soup is a take on one of my favorite Thai soups: Khao Soi. This version is made vegan and gluten-free by using vegetable broth and replacing the traditional egg noodles with rice noodles.


My version of a Khao soi skips out on the chicken,  and uses rice noodles instead of egg noodles. But hey, if you like egg noodles in your soup I say GO FOR IT! If you opt to use egg noodles in this recipe and want to go super traditional, you can cook up half the egg noodles in boiling water, and then save a few to fry up quickly in some oil to top the soup with.

This soup is also a saviour if you feel any sort of sickness or cold coming on. It’s proven to beat any lingering winter cold you might have!

NORTHERN-STYLE VEGAN THAI COCONUT SOUP RECIPE
A Northern-style Thai soup made with curry, coconut, and loaded with noodles!



INGREDIENTS
  • 1 1/2 tbsp avocado oil (or vegetable oil)
  • 1 onion, roughly chopped
  • 4 garlic cloves, roughly chopped
  • 1-inch cube of ginger
  • 1-2 tbsp of Thai red curry paste (*see note)
  • 2 tsp curry powder
  • 1/2 tsp turmeric powder
  • 1 Litre low-sodium vegetable broth
  • 1 cup coconut milk (full-fat from a can)
  • 2-3 tbsp soy sauce
  • 2 tbsp coconut sugar (maple syrup or agave work too)
  • juice of 1/2 lime
  • 7oz rice noodles (about 1/2 a pack)
  • cilantro to top
INSTRUCTIONS
  1. Heat the avocado oil in a large pot on medium-high heat.
  2. Add the onion and cook on medium heat for 2-3 minutes until translucent. Next, add the garlic and ginger and cook for another minute.
  3. Add the Thai red curry paste, curry powder, turmeric powder, vegetable broth, and coconut milk. Bring to a boil stirring everything together, then lower the heat to medium-low and let simmer for 5 minutes.
  4. Next add in the soy sauce, coconut sugar, and lime juice and stir together. Reduce heat to low and let the soup simmer for another 5 minutes.
  5. While the soup is simmering, cook the rice noodles according to package directions.
  6. Add the rice noodles to the soup.
  7. Serve with fresh cilantro and a lime wedge

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