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!

Crispy Baked Coconut Shrimp

The secret to truly crispy baked coconut shrimp is in the breading. It’s all about double toasting – toast the panko breadcrumbs and coconut before you bread the shrimp and let it crisp up again while the shrimp bakes. With this method, the breading adheres perfectly and the shrimp stay truly crispy. It’s the best alternative to deep frying that I’ve found!

Every other year, the Stevens family gathers at Keith’s dad’s house for Christmas. It’s tradition to deep-fry shrimp on Christmas Eve and we all love it (well, except for the two seafood haters who have a giant steak instead!). The shrimp is always excellent: crispy on the outside, tender in the middle, deeply flavorful.
Until now I only got to enjoy that meal every 24 months because honestly, I don’t like to deep-fry food in my own kitchen. It’s just not worth the mess. But after successfully making Crispy Baked Buffalo Wings and Baked Chicken Tenders (after a couple of failed attempts), I thought, “Why not try the same method with shrimp?” And all I can say is – wow! Not only are these shrimp incredibly delicious and super crispy, they come at a minimum of effort and mess. If you love fried shrimp, you simply must try this recipe!

How to Make Coconut Shrimp

Step 1: Here is the key step – you need to pre-bake the mixture of panko breadcrumbs and shredded coconut before you bread the shrimp. Note the difference in the photo below. The breading is already lightly golden before you coat the shrimp with it.


Step 2: Then you coat the shrimp in this order: flour, egg, breading. Next you crank up the oven and bake the shrimp on a rack until deeply golden all the way around.


Step 3: That’s it! You’re rewarded with perfectly crispy, entirely tasty shrimp. Dip them in spicy sriracha mayonnaise or spicy remoulade sauce to make them even better.


With this simple method, we get to enjoy the flavor and texture of fried shrimp all year long (when we’re not eating these Grilled Shrimp or Salt and Pepper Shrimp in the summer!) without the mess or hassle of deep frying. And you can too!

Crispy Baked Coconut Shrimp

The secret to truly crispy baked coconut shrimp is in the breading. It's all about double toasting - toast the panko breadcrumbs and coconut before you bread the shrimp and let it crisp up again while the shrimp bakes. With this method, the breading adheres perfectly and the shrimp stay truly crispy. It's the best alternative to deep frying that I've found!
 Course Appetizer, Main Course
 Prep Time 20 minutes
 Cook Time 15 minutes
 Total Time 35 minutes
 Servings 4 people
 Calories 534 kcal

Ingredients

  • 1 pound large shrimp peeled and deveined
  • 1 cup panko breadcrumbs
  • 1/2 cup unsweetened shredded coconut
  • 1/2 teaspoon kosher salt
  • 1/2 cup mayonnaise
  • 1/4 cup sriracha
  • 1 tablespoon fresh lime juice
  • 1/2 cup unbleached all-purpose flour
  • salt and freshly ground black pepper
  • 2 large eggs beaten
  • fresh parsley minced, for garnish (optional)

Instructions

  1. Preheat oven to 350°F.
  2. Whisk together panko and coconut in a bowl. Spread mixture onto a rimmed baking sheet in a single layer. Bake for 4 minutes, until lightly golden. Return to bowl and whisk in kosher salt.
  3. Place oven-safe rack on baking sheet and and brush with oil or coat with non-stick cooking spray.
  4. Meanwhile, whisk together dip ingredients: mayonnaise, sriracha and lime juice. Cover and refrigerate until ready to serve.
  5. Increase oven to 425°F.
  6. Put flour on a small plate and season with salt and pepper, stir to combine.
  7. Set up your breading station in this order: flour, egg, breading. Dip one shrimp into flour and shake off excess, dip in egg and then coat thoroughly with breading. Place on rack in baking sheet. Repeat with remaining shrimp.
  8. Bake for 8 to 10 minutes until shrimp are golden brown and cooked through. Transfer shrimp to platter and garnish with parsley if desired. Serve immediately with sriracha mayonnaise for dipping.

Recipe Notes

If you aren't a fan of coconut, no problem! Just use 1 1/2 cups of panko and skip the coconut. And for other dip options, I love Dorothy's suggestions in the comments: Thai sweet chili sauce or mango chutney!
Nutrition Facts
Crispy Baked Coconut Shrimp
Amount Per Serving
Calories 534Calories from Fat 297
% Daily Value*
Total Fat 33g51%
Saturated Fat 11g55%
Cholesterol 390mg130%
Sodium 1896mg79%
Potassium 256mg7%
Total Carbohydrates 26g9%
Dietary Fiber 2g8%
Sugars 2g
Protein 31g62%
Vitamin A3.6%
Vitamin C20.6%
Calcium20.9%
Iron26.8%
* Percent Daily Values are based on a 2000 calorie diet.

MORE RECIPES @ pinchandswirl.com

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