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!

NAVAJO TACOS (INDIAN FRY BREAD)

Deliciously crispy on the outside, soft and chewy on the inside, Navajo Tacos made with Indian Fry Bread are topped with a meaty mixture of taco seasoned ground beef and beans, then all the fixings like sour cream, shredded lettuce, cheddar cheese, and tomatoes!


Ingredients
Indian Fry Bread
  • 2 cups all-purpose flour
  • 2 1/2 teaspoons baking powder
  • 1 teaspoon salt
  • 1 cup warm water
  • 3 cups oil, for frying

Navajo Tacos
  • 1 tablespoon oil
  • 1/2 yellow onion, diced
  • 1 lb. ground beef
  • 2 teaspoons chili powder
  • 1 teaspoon cumin
  • 1/2 teaspoon salt
  • 1/2 teaspoon black pepper
  • 1/2 teaspoon paprika
  • 1/4 teaspoon garlic powder
  • 1/8 teaspoon crushed red pepper
  • 1/8 teaspoon chipotle chili powder
  • 1 (15 oz.) can dark red kidney beans, rinsed and drained
  • 1 (14.5 oz.) can petite diced tomatoes, drained
  • 1 (4 oz.) can diced green chilies, mild
Toppings
  • Sour cream
  • Shredded cheese
  • Diced tomatoes
  • Shredded lettuce
  • Sliced black olives
  • Slice avocado
  • Pico de gallo
  • Cilantro


Instructions
Indian Fry Bread
  1. In a large bowl, combine the flour, baking powder and salt. Add the warm water and mix using a fork until a dough forms.  Turn the dough out onto a lightly floured surface and knead for 5 minutes, then transfer to a clean bowl and cover tightly in plastic wrap.  Let the dough rest for 10 minutes. 
  2. Divide the dough into 8 equal sections by pinching off golf-ball sized balls of dough, then pat and roll out the dough balls into roughly 6-inch discs on a lightly floured surface.  Keep them covered with plastic wrap while you prepare to fry them.
  3. Heat 3 cups of oil in a large skillet or frying pan over medium heat for about 5 minutes until the oil temperature reaches between 350 and 360 degrees F.  Working in batches, fry each disc in the hot oil until the dough is golden brown on one side, then carefully flip with tongs and fry on the other side. Set on a paper towel to drain oil and stick in a warm oven to stay hot while the other fry bread is cooked.


Navajo Tacos
  1. In a large skillet, heat the oil over medium-high heat, then add the onions and cook for 2-3 minutes, just until they begin to soften.  Add the meat and brown with the onions.
  2. When the meat is no longer pink, add all of the spices, kidney beans, tomatoes, and chilies, and decrease the heat to medium-low.  Stir everything together, then cover and simmer for 10 minutes, then use to top Indian fry bread for Navajo tacos.
  3. Add any toppings you like to the base of fry bread and taco mixture, piling it high.

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