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!

South East Asian Chicken Curry



South East Asian Chicken Curry
A very fresh and easy to make chicken curry which is bursting with aromatic flavours.  This curry is always a winner!

Serves 6
Prep time: 20-30 minutes
Cooking time: 50-60 minutes

Ingredients
For the curry paste
6 garlic cloves, peeled and roughly chopped
5 long, red chillies, deseeded and roughly chopped
3 lemon grass stalks, trimmed with the outer leaves removed and chopped
5cm piece fresh root ginger, peeled and chopped
5 large shallots, peeled and roughly chopped
1 tsp ground turmeric
2 tbsp groundnut oil

For the curry
2 tbsp groundnut oil
2 onions, peeled and thinly sliced
1kg chicken thighs, cut into bite sized pieces
Sea salt and freshly ground black pepper
4 kaffir lime leaves
1 cinnamon stick
3 star anise
400ml coconut milk
100ml chicken stock
1 tsp palm sugar (or soft brown sugar)
2 tbsp light soy sauce
2 tbsp fish sauce
400g green beans, trimmed and cut into 5cm lengths
Handful of coriander, finely chopped to serve
Jasmine rice, to serve


Method

1.  To make the curry paste, put the garlic, chillies, lemon grass, ginger, shallots and turmeric in a food processor and blitz to a paste. Trickle in the groundnut oil and blend, scrape the sides of the processor.

2.  To make the curry, heat the oil in a large heavy-based pan or wok. Tip in the curry paste and stir over a medium heat for a few minutes until fragrant.  Add the onions and cook, stirring frequently until the onions are softened.

3.  Season the chicken pieces and add to the pan and stir to coat them in the curry paste. Add the lime leaves, cinnamon stick, star anise, coconut milk, stock, sugar, soy and fish sauces and bring to the boil. Reduce the heat to a simmer and cook gently for 30–40 minutes until the chicken is tender.

4.  Cook the rice as per packet instructions.  Skim the excess oil from the surface of the curry. Season to taste.  Add the beans, put the lid on and cook for another 3–4 minutes until the beans are tender. Scatter the coriander leaves over the curry and serve with the rice.


* Cutlery -  Sophie Conran Rivelin for Arthur Price

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