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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!

Indian Meatballs with Green Curry Sauce

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Indian Meatballs with Green Curry Sauce
A deliciously fresh and aromatic lamb meatball curry!

Serves 4 small portions, 2 large portions
Prep time:  20 minutes
Cooking time: 45-60 minutes

Ingredients
For the meatballs
500g/1 lb minced lamb
2 or 3 spring onions, finely chopped
2 green chillies, finely chopped
1 tbsp fresh coriander, chopped
1 tsp ground allspice
1 tsp ground cinnamon
1 tsp garam masala
1 tsp freshly ground black pepper
1 tsp garlic paste
1 tsp ginger paste
salt to taste
For the green curry sauce
75ml/2½fl oz vegetable oil
2 large onions, finely sliced
150ml/5fl oz plain yoghurt
3 green chillies
1 small bunch fresh coriander
1 tbsp fresh mint, chopped
1 tsp garlic paste
1 tsp ginger paste
1 tsp ground cumin seeds
1 tsp garam masala
1 tsp ground fennel seeds
½ tsp freshly ground black pepper
¼ tsp ground turmeric
1 tsp lemon juice
salt to taste
800ml/2 pints hot water
To garnish
handful toasted flaked almonds
2 tbsp single cream
1 tbsp freshly chopped mint

Basmati Rice and Indian Breads to serve

Method

1.   To make the meatballs put all the meatball ingredients into a mixing bowl and thoroughly mix combine together.  Shape in to golf sized balls and set aside.

2.  To make the green curry sauce, heat the oil in a large frying pan or wok and add the sliced onions and fry until golden brown remove from the pan leaving the excess oil and then set aside.

3.  Place all the green curry sauce ingredients except the water into a food processor and add the fried onions and blend until you have a smooth paste.

4.  In the pan you fried the onions, reheat the excess oil and then add the green curry paste and fry for 3-5 minutes.  Add the water and bring the sauce to the boil, then add the meatballs bring back to the boil and then add the meatballs.  Let simmer for 30-45 minutes until the sauce is thick and has reduced.

5.  To serve garnish the meatballs with toasted almonds, a drizzle of cream and a sprinkling of fresh mint and serve with rice and Indian breads.

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