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!

IN-N-OUT ANIMAL STYLE FRENCH FRIES (COPYCAT)

Animal-Style French Fries are fried golden brown, topped with melty American Cheese, buttery melted caramelized onions and a signature fry sauce. Serve with a fork or eat with your fingers if you dare, these fries are a cult favorite!

Kenji’s delicious recipe for the Double Double Animal-Style Cheeseburger was such a spot on hit, I’ve carried it through to the next day to recreate the Animal Style French Fries to accompany it. Kenji declined to make the French fries because he declared that In-N-Out has never really been known for their fries. This, I hate to admit, is pretty true. The French fries were always the weakest link in the very short chain of a menu with only a double cheeseburger, cheeseburger, hamburger and fries on the menu.

The animal style French fries however are another story. They are wonderful, but with a fault. Because In-N-Out French fries are only fried once before serving you don’t get the ultra crispy fries you are used to in a fast food place. Any other burger shop you go to is going to fry frozen pre-fried potatoes so that they get the elusive double fry.

So I did what any self respecting fry enthusiast would do. I took the idea of the animal style French fries and fixed the only flaw it had, the single fry and instituted the important double fry. The result are a more crispy french fry that doesn’t immediately get soggy under the weight of its toppings.


Keep the sliced potatoes in a bowl of cold water while you prepare the rest of the ingredients. Heat 1 tablespoon butter in a skillet over medium-high heat until shimmering. Add onions and 1/2 teaspoon kosher salt to skillet.
Reduce heat to medium low, and cook, tossing and stirring occasionally until onions are well browned, about 15 minutes.
Once onions begin to sizzle heavily and appear dry, add 1 tablespoon water to skillet and stir. Continue cooking until water evaporates and onions start sizzling again. Repeat process, adding 1 tablespoon of water with each iteration until onions are meltingly soft and dark brown, about 3 times total.  Transfer to a small bowl and set aside while leaving any residual butter in the pan.

Animal-Style French Fries are fried golden brown, topped with melty American Cheese, buttery melted caramelized onions and a signature fry sauce. Serve with a fork or eat with your fingers if you dare, these fries are a cult favorite!

Ingredients
  • 1 large onion , finely chopped (about 1 1/2 cups)
  • 2 teaspoons butter
  • Kosher salt
  • 2 tablespoons plus 2 teaspoons mayonnaise
  • 1 tablespoon ketchup
  • 2 teaspoons sweet pickle relish
  • 1/2 teaspoon sugar
  • 1/2 teaspoon distilled white vinegar
  • 4 slices deli-cut American Cheese
  • 2 lbs russet potatoes , peeled and cut into 1/4 inch fries


Instructions
  1. Keep the sliced potatoes in a bowl of cold water while you prepare the rest of the ingredients.
  2. Heat 1 tablespoon butter in a skillet over medium-high heat until shimmering.
  3. Add onions and 1/2 teaspoon kosher salt to skillet.
  4. Reduce heat to medium low, and cook, tossing and stirring occasionally until onions are well browned, about 15 minutes.
  5. Once onions begin to sizzle heavily and appear dry, add 1 tablespoon water to skillet and stir.
  6. Continue cooking until water evaporates and onions start sizzling again.
  7. Repeat process, adding 1 tablespoon of water with each iteration until onions are meltingly soft and dark brown, about 3 times total.
  8. Transfer to a small bowl and set aside while leaving any residual butter in the pan.
  9. To make the animal fry spread: Add mayonnaise, ketchup, relish, sugar, and vinegar to a small bowl and stir to combine.
  10. Dry the potatoes. Heat oil to 365 degrees
  11. Fry for 3-4 minutes or until the fries start turning a bit whiter.
  12. Remove with slotted spoon and do the next batch.
  13. To double fry, put the potatoes back in the hot oil after they've cooled and fry a second time for 2-3 minutes, or until golden brown.
  14. Place fries on plate, cover with slices of American Cheese, melted onions, and the animal style spread.
  15. Serve immediately!

Recipe Notes
Sauce and Onions adapted from Kenji at the Serious Eat's Food Lab.


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