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 Shepherd’s Pie Recipe with Crispy Cheddar Topping

Classic Shepherd’s Pie Recipe with Crispy Cheddar Topping
This Classic Shepherd’s Pie Recipe is gravy-soaked beefy goodness, with peas and carrots, covered with 5 pounds of potatoes. Because there are NEVER ENOUGH MASHED POTATOES. The best Shepherd’s Pie, done right my friends.
How to make the best Shepherd’s Pie Recipe
THIS Shepherd’s Pie however, is anything but sloppy. You make a flavorful gravy with beef broth and ground beef, add some peas and carrots, and cover it up with All The Potatoes. In my opinion, the greatest fault of most Shepherd’s Pies is a serious lack of creamy potato-y goodness. It’s all meat, tiny potatoes. Not gonna cut it for this mashed potato freak. 5 pounds definitely does the trick though!
Allllllll the potatoes.
Top it off with some cheddar cheese that you broil for a few minutes to make it extra crispy. Mm-mm. Invite the neighbors because this casserole feeds a small army!
Try not to drop your plate of shredded cheese on top.
If you make this Shepherd’s Pie, snap a photo and tag #TheFoodCharlatan on Instagram! I love seeing what you’re making! Here’s a link to a pin where over 150 people have tried this recipe and shared their review. Check it out!
Classic Shepherd’s PieServes Serves 8-10 

Ingredients
For the mashed potatoes
  • 5 pounds potatoes, peeled and chopped into 1 or 2 inch pieces
  • 1/2 cup (1 stick) salted butter
  • 1/2 cup sour cream
  • 1/3 cup milk, or to taste
  • 1 teaspoon salt
  • 1/2 teaspoon pepper
  • 1/2 teaspoon seasoning salt
  • 1/4 teaspoon garlic powder
  • 1/4 teaspoon onion powder
For the beef mixture
  • 4 tablespoons (half stick) salted butter
  • 1 medium onion, chopped (about 2 cups)
  • 4-5 medium carrots, (about 1 and 1/2 to 2 cups)
  • 1 and 1/2 cups frozen peas
  • 1 and 1/2 pounds ground ground beef
  • 1 and 1/2 cups beef broth*
  • 1 tablespoon cornstarch
  • 1 and 1/2 teaspoons Worcestershire sauce
  • 1 teaspoon Better Than Bouillon paste* (see note)
  • 1 and 1/2 teaspoon salt, or to taste
  • 1/2 teaspoon pepper, or to taste
  • 1 cup shredded cheddar cheese
Instructions
  1. Fill a large stock pot with plenty of water. Add the chopped potatoes and make sure the water covers them.
  2. Bring to a boil, covered, over high heat. Reduce the heat to medium and continue boiling for about 20-25 minutes, until the potatoes are fork tender.
  3. Drain the potatoes and return to the pot.
  4. Add 1/2 cup butter. Mash with a potato masher or mixer until they are as smooth as you like them.
  5. Stir in sour cream, milk, 1 teaspoon salt, 1/2 teaspoon pepper, seasoning salt, garlic powder, and onion powder. All seasonings are to taste. Cover and set aside.
  6. In a large skillet, melt 4 tablespoons butter over medium heat.
  7. Add the onions and carrots. Saute for about 8 minutes, until the carrots are tender.
  8. Add the ground beef and cook and crumble until no longer pink, about 5-6 minutes.
  9. Drain the fat.
  10. Add the frozen peas.
  11. In a small bowl, stir together beef broth* and cornstarch.
  12. Add this mixture to the meat, as well as the Worcestershire sauce.
  13. Cook over high heat for about 5 minutes, or until the mixture boils and the sauce has thickened. Cook and reduce until it has reached a consistency you like.
  14. Season with salt and pepper. Taste it and see how you like it! Add other seasonings if you want.
  15. Preheat your oven to 350 degrees F.
  16. Pour the meat mixture into a deep 9x13 inch casserole dish.
  17. Top with the mashed potatoes and spread evenly.
  18. Top with cheddar cheese.
  19. Bake at 350 for about 30 minutes, or until bubbly. (You could do 375 if you are in a hurry. Check it at 20 minutes.)
  20. Broil on the top rack for about 2 minutes if you are obsessed with crunchy brown cheese like my family is. Don't walk away!!
  21. Now invite over the neighbors. Because this pie feeds a crowd!
Recipe Notes
*I'm a little obsessed with Better Than Bouillon. I use 1 teaspoon of the stuff per cup of water to equal however many cups of broth I need. (so for this recipe, 1 and 1/2 cups water + 1 and 1/2 teaspoons paste.) I tried this the second time with 1 and 1/2 cups beef broth from a box, but I still added one teaspoon of Better than Bouillon. It just adds so much flavor!
All of the seasonings in the mashed potatoes are totally according to taste, of course! If it doesn't taste like you want to eat 12 more bites when you taste it, add more salt :)
All images and text © The Food Charlatan

If you make this recipe, share it on Instagram using the hashtag #TheFoodCharla

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