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!

SWEET AND STICKY CHINESE BBQ PORK (AKA CHAR SIU)

If you love sweet and sticky char siu like we do, give this recipe a go! We also played around and gave it a little spicy kick by adding Korean pepper flakes. Why? Because we think sweet and spicy go hand in hand, don’t you agree?



Every time I google a recipe for char siu, I used a different one every time, with different results every time. So I decided to actually spend the time and create one to my liking (I like mine very sweet and sticky) and actually document it. Yes, it took more effort than googling a recipe but you know what? It was worth it!



Most of the ingredients can be found at your local grocery store, however red fermented tofu, Korean red pepper flakes may be harder to find and you may have to find them at an Asian grocery store but this ingredient is optional.

Sweet and Sticky Chinese BBQ Pork (aka Char Siu) Recipe
If you love sweet & sticky char siu like we do, give this recipe a go! ..and we added Korean pepper flakes for a kick, because sweet & spicy go hand in hand!



Ingredients
  • 2 tablespoons fancy/cooking molasses (not blackstrap molasses) – can also be substituted with maltose, barley malt syrup or honey)
  • 1-2 cubes red fermented tofu (and 4 teaspoons of the sauce, mashed together) – this is also known as red bean curd
  • 2 tablespoons hoisin sauce
  • 2 cloves garlic (roughly chopped)
  • 4 slices of ginger (roughly chopped)
  • 1 teaspoon Chinese five spice powder
  • 2 tablespoons Chinese rice cooking wine (or dry sherry)
  • (optional) 1 tablespoon Korean pepper flakes (for additional colour and a mild spiciness. It will also give it a more earthier flavour)
  • 2-3 lbs pork shoulder (cut into long 3 inch thin strips)
  • 2 tablespoons honey
Instructions
Cutting and Marinating the Meat
  • Cut the pork shoulder into thin 3 inch thick strips. (Cooks faster and absorbs marinade more evenly)
  • Combine the ingredients in the marinade section into a ziplock or a big bowl and combine it with the pork.
  • Marinate it in the fridge for 24 hours.
Preparing the Glaze
  • Remove the meat from the marinade and let it sit for an hour in room temperature.
  • Reserve the marinade into a small bowl and remove the garlic bits and ginger
  • Add 2 tablespoons of honey into the marinade and mix. We will use this for glazing at the end of grilling
Grilling the Pork
  1. Heat up BBQ to 325F (162C)
  2. Cook the char siu for 15 mins on one side, then flip it for another 10 mins. Check the meat thermometer. Temperature should be around 145F (62C). If it’s not, keep the meat on longer until it reaches that internal temperature.
  3. Once it hits an internal temperature of 145F (62C), we glazed 4-5 times, flipping the meat every minute to prevent burning
  4. When the meat looks red, sticky and slightly burnt, remove it from the BBQ and let it rest for 20 mins on a plate before cutting into it.
  5. Once the meat has rested, cut it up and enjoy!! 

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