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!


The filling for these pies started off quite bland, but after a quick brainstorm they were transformed with a squirt of ketchup and a dash of Worcestershire sauce, and now they are murderously moreish.

These pies will certainly be a great addition to this years special days !!

  • 300 g 2 1/3 cups plain flour
  • 150 g 1 1/4 cups cold butter
  • pinch of salt
  • 2 tbsp oil
  • 1 large onion finely diced
  • 500 g 1lb minced beef
  • 3 tbsp tomato puree
  • 1/2 tsp celery salt
  • 1 tbsp tomato ketchup
  • 1 tbsp Worcestershire sauce
  • salt and pepper to taste
  • 1 tbsp plain flour
  • 125 ml 1/2 cup beef stock
  • 1 egg beaten
  1. To make the pastry, place the flour in a large bowl, stir in a pinch of salt. Add the butter and rub together with your fingertips until it resembles fine breadcrumbs.
  2. Make a well in the centre, add cold water 1 tbsp at a time, until the mixture comes together to make a dough. Wrap in clingfilm and place in the fridge to rest for 30 minutes.
  3. Preheat the oven to 200C/390F and grease a deep muffin tray.
  4. Meanwhile, to make the filling heat the oil in a large pan, add the onions and minced beef and cook over a medium-high hear for 5 minutes to brown.
  5. Add the tomato puree, celery salt, tomato ketchup and Worcestershire sauce. Stir well, add slat and pepper to taste.
  6. In a separate bowl, gradually whisk the stock into the tbsp of flour until combined and free of lumps. Add to the meat, bring to the boil and cook for 2-3 minutes, until thickened. Remove pan from the heat.
  7. Roll out the pastry on a floured surface and using a circle cutter slightly bigger than the circumference of your muffin tray, cut out ten circles and place them in the tray.
  8. Divide the meat between the pasty cases. Using the remaining pastry, roll out and cut ten lids for the pies.
  9. Brush the rims of the pies with the beaten egg, place the tops on and push down to seal.
  10. Use a sharp knife to cut some slits in the lids for the steam to escape. Brush the pie tops with the remaining beaten egg.
  11. Bake in the oven for 15 minutes, until golden brown.
Recipe Source : Mrs. Lovett's Meat Pies @ threekidsandcountingthepennies


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