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!

CHEESY SCALLOPED POTATOES

CHEESY SCALLOPED POTATOES

These Easy, Cheesy Scalloped Potatoes are smothered in a creamy cheese sauce and baked to perfection. With a quick shortcut, this classic side dish takes less than an hour from start to finish. They are sure to be a hit at your holiday feast.
My grandma was know for her comfort food cooking. From authentic German and Hungarian dishes to American classics like these Easy Cheesy Scalloped Potatoes, each recipe she cooked was her pride and joy. In our family she was known for certain dishes, like her Shortcut German Potato Salad and her Zucchini Bread, among others. She never had to follow a recipe – she knew each one like the back of her hand. Which of course leaves us trying to recreate the flavors she made…thankfully we cooked with her enough that we are usually successful.
I remember the first time I cooked these Scalloped Potatoes on my own. It was for a Christmas party that I was hosting at my home, and it was the first Christmas since my grandma had passed away. My boss was bringing the ham, so I knew I had to make my grandma’s cheesy potatoes. I did and they tasted just like hers…which of course made me cry as I ate them!
How to Make Cheesy Scalloped Potatoes

I love this recipe because it’s super easy and tastes better than any cheesy potato casserole I’ve ever had. That could be due to the massive amounts of fresh Cheddar cheese in the rich, creamy sauce, but who knows? Most potato casserole recipes I’ve seen (au gratin or scalloped) use raw potatoes and bake the casserole for over an hour, up to an hour and a half or more! The potatoes take quite a while to cook so that lengthy time was necessary. But since we ain’t got time for that, my grandma boiled the potatoes whole and unpeeled first, for about 25 minutes, to cook them most of the way through.
Then she would peel them when they were cool enough to handle and slice them. While the potatoes are cooking the cheese sauce is made, which is a basic bechamel sauce with grated cheddar added. The potatoes and cheese are layered and topped with more grated cheddar and some ground Hungarian paprika for color.
The par-boiling of the potatoes ensured that the potatoes will be creamy and soft and cooked all the way through in under 30 minutes. Most casseroles that start with raw sliced potatoes always have comments stating that the potatoes are unevenly cooked. You won’t have that problem with my Grandma’s Cheesy Scalloped Potatoes!
These Easy Scalloped Potatoes were a hit at my dinner party, and they’re sure to be a hit at yours. They are delicious with ham, turkey or even as a fancy side for your favorite steak.
EASY CHEESY SCALLOPED POTATOES
PREP 30 mins
COOK 20 mins
TOTAL 50 mins
YIELD 6 -8 servings

INGREDIENTS
  • 2 pounds russet potatoes
  • ¼ cup butter
  • ¼ cup all-purpose flour
  • 1 1/2 cups nonfat milk or half & half
  • Salt & pepper
  • 8 ounces (about 2 cups) freshly shredded cheddar cheese + 1/4 cup for topping
  • Paprika, for garnish
  • Fresh chopped chives or parsley, for garnish
INSTRUCTIONS
  1. Preheat oven to 350 degree F and grease a 13"x9" baking pan with cooking spray.
  2. Bring a large pot of water to a boil. Scrub potatoes and place them, whole, into the boiling water. Cook for about 20 minutes. Remove from the water and let sit until cool enough to handle.
  3. Meanwhile, make the cheese sauce. Melt butter in a medium saucepan over medium heat. Whisk in flour and cook, whisking constantly, until flour is golden brown; about 2 minutes. Stir in milk and cook, stirring often, until thickened; about 2-3 minutes. Remove from heat and stir in shredded cheese. Season with salt and pepper.
  4. Gently peel potatoes and slice into 1/8 inch rounds. Place 1/3 of the
  5. potatoes overlapping in a single layer in the baking dish, seasoning with salt and pepper. Spoon about 1/3 of the cheese sauce on top of the potatoes.
  6. Repeat for two more layers. Pour all of the remaining cheese sauce over the top layer of potatoes. Spread to ensure all of the potatoes are covered.
  7. Sprinkle with 1/4 cup shredded cheddar (if desired) and paprika (about 1/8-1/4 teaspoon.
  8. Bake in the 350 degree oven for 20-25 minutes, or until sauce is bubbly.
  9. Garnish with fresh chopped chives or parsley, if desired. Serve immediately.

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