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!

Summer Fish Pie


 Summer Fish Pie
A wonderfully light and summery fish pie, absolutely delicious!

Serves 4
Prep time: 15-20 minutes
Cooking time: 40 minutes

Ingredients
For the fish
300g/10½oz cod loin, skin removed, cut into chunks
200g/7oz salmon steak, cut into chunks
200g/7oz raw king prawns, heads and shell removed
1 lemon, juice, zest of ½ lemon
salt and freshly ground black pepper
3 tbsp chopped fresh chives
For the sauce
50g/2oz butter
1 onion, chopped
½ lemon, zest only
3 tbsp plain flour
175ml/6fl oz milk
125ml/4fl oz double cream
175ml/6fl oz dry white wine
2 tbsp crème fraîche
4 boiled eggs, peeled, halved
100g/3½oz asparagus spears, woody ends trimmed, cut into 5cm/2in lengths
75g/3oz fresh peas
For the pastry
500g/1lb 1oz ready-made puff pastry
1 egg, beaten


Method
1.      Preheat the oven to 180°C/350°F/Gas 4.
2.      For the fish, place the salmon, cod and prawns into a bowl, add the lemon juice and zest and season with salt and freshly ground black pepper. Add the chives, stir well and set aside to marinate in the fridge for at least 30 minutes.
3.      Meanwhile, for the sauce, melt the butter in a frying pan and fry the onion until softened.  Stir in the lemon zest and flour and mix well and cook for 2-3 minutes, stirring constantly, then slowly stir in the milk, cream and then white wine and cook for a further 2-3 minutes, or until the sauce has thickened. Stir in the crème fraîche and season to taste, with salt and freshly ground black pepper.
4.      Pour the sauce over the fish and stir gently until well combined. Spoon half of the fish into a large pie dish, add the eggs, asparagus and peas, then top with the remaining fish mixture.
5.      For the pastry, roll the puff pastry out thinly until large enough to cover the pie dish. Brush a little beaten egg around the rim of the pie dish. Place the pastry on top of the dish, crimp the edges with a fork and trim off any excess pastry.
6.      Brush the pastry with beaten egg.  Make fish shapes with the excess pastry and place onto the pie with a little more beaten egg.
7.      Cut a steam hole in the top of the pie and cook for 10 minutes. Reduce the oven to 170°C/325°F/Gas 3 and bake for a further 20 minutes, or until the pastry is risen and golden-brown and the pie filling is bubbling.

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