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!

MINCED BEEF WELLINGTON RECIPE

Traditionally Beef Wellington is prepared with a good cut of beef but our recipe calls for ground beef which is much cheaper and less intimidating to work with. While I’ve always wanted to make the “real” version I never seemed to be able to justify spending the money on the high priced chunk of beef. When Jamie Oliver came up with this recipe I knew it would become a regular week night dinner option.


INGREDIENTS
  • 1 whole Medium Onion
  • 1 whole Carrot
  • 1 stalk Celery
  • 1 whole Medium Sized Potato
  • 4 sprigs Fresh Rosemary, Leaves Picked And Chopped
  • 2 Tablespoons Olive Oil
  • 2 cloves Garlic, Minced
  • 1 pound, 1-⅔ ounces, weight Good Quality Minced Beef
  • 1 teaspoon Salt And Pepper, Each
  • 1 whole Large Egg, Lightly Beaten
  • 1 pound, 1-⅔ ounces, weight Puff Pastry
INSTRUCTIONS
  1. Preheat oven to 350 F.
  2. Peel then chop the onion, carrot and potato into one centimeter cubes. Also chop celery into one centimeter cubes.
  3. Place all vegetables and rosemary leaves into a frying pan with olive oil. Over medium heat, fry and stir for about 8 minutes or until vegetables soften and color. Add the garlic in the last minute.
  4. Put vegetables into large bowl and allow the mixture to cool completely.
  5. Add the minced beef into the bowl the vegetables. Add salt and pepper and half the beaten egg. Scrunch and mix together.
  6. Roll out pastry to the size of a small tea towel. Place the mince mix along one long side, in a sausage shape. Brush edges of the pastry with egg and roll pastry to cover the mince completely. Squeeze ends together.
  7. Put the roll onto a baking tray and brush with remaining egg. Bake for an hour until golden. Slice and serve with gravy.
Recipe Source : Minced Beef Wellington @ tastykitchen

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