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!

Perfect Chicken Florentine

Chicken Florentine is chicken that lies on a bed of spinach leaves, has a creamy white sauce, and is undeniably delicious!


It is rich and flavorful and easy to do. (I say this as someone who does not consider themselves a good cook. Baking I can do, but cooking can be a challenge!)

Be sure to make note of the spinach being thawed and drained before preparing this dish.

Chicken Florentine Recipe
Chicken Florentine is chicken that lies on a bed of spinach leaves, has a creamy white sauce, and is undeniably delicious!



Ingredients
  • 4 boneless skinless chicken breasts
  • Salt and freshly ground black pepper to taste
  • 1/2 cups all-purpose flour, for dredging
  • 6 tbsp. 3/4 stick unsalted butter, divided
  • 2 tbsp. onion, finely diced
  • 1 tbsp. finely chopped garlic
  • 1 1/2 cups dry white wine
  • 1 cup heavy whipping cream
  • 2 10-ounce packages frozen cut-leaf spinach, thawed, drained
  • 1 tbsp. chopped fresh parsley
Instructions
  1. Sprinkle the chicken with salt and pepper. Dredge the chicken in the flour to coat lightly then shake off any excess flour.
  2. In a large skillet over medium heat, melt 2 tablespoons of butter.
  3. Once melted, add the chicken and cook until brown, about 5 minutes per side.
  4. Carefully move the chicken to a plate and cover with foil to keep it warm.
  5. Melt 2 tablespoons of butter in the same skillet over medium heat. (Do not clean the skillet) Add the onions and garlic and saute until the onions are translucent, about 1 minute. Be sure to use a wooden spoon or spatula where you can be stirring and scraping the lovely brown bits that form.
  6. Remove pan from stove and carefully pour in the wine.
  7. Return pan to stove and increase the heat to medium-high and boil until the liquid is reduced by half, about 3 minutes.
  8. Add the cream and boil until the sauce reduces by half, stirring often, about 3 minutes.
  9. Sprinkle in the parsley.
  10. Season the sauce with salt and pepper. (Be sure to try it as you go to determine the correct amounts!)
  11. RETURN THE CHICKEN and any accumulated juices TO THE SAUCE (If you want you can turn the chicken to coat it in the sauce or you can pour it over when serving as I did. This will finish cooking the chicken) Turn heat to low/warming.
  12. Meanwhile, melt the remaining 2 tablespoons of butter in another large skillet over medium heat. Add the spinach and saute until heated through.
  13. Season the spinach with salt and pepper to taste.
  14. Arrange the spinach over a platter. Place the chicken atop the spinach. Pour the sauce over and serve.

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