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!

Rosemary Roasted Pork with Maple Apple Sauce

Rosemary Roasted Pork with Maple Apple Sauce
Delicious leftovers
This is a Donna Hay recipe and like all of her recipes it's styled beautifully and is beautifully simple not requiring a wedding guest list sized amount of ingredients. In truth this could serve 4-6 people depending on how hungry they were but I would suggest making this for 2-3 people because of the delicious leftovers. In this case, the pork actually somehow becomes _more _tender the day after and when sliced paper thinly, it is absolutely mouth watering on buttered fresh bread with a generous dollop of the apple sauce. Or you can pop it on top of a bowl of ramen or noodle soup. Your tastebuds will indeed be thankful the next day for this foresight.

Mmm crispy crackling...
  • 1.8 kg pork loin
  • 1/4 cup rosemary
  • 2 tablespoons sea salt flakes (like Maldon)
  • olive oil, for drizzling
Step 1 - If you have time the night before, leave the pork skin uncovered in the fridge (cover the loin though) so that it can dry out as much as possible (to make the crackling extra crispy). Preheat the oven to 220c.
Rosemary and sea salt in frying pan
Step 2 - Place the rosemary and sea salt in a small frying pan and cook for 1-2 minutes over a high heat until the fragrance of the rosemary comes out. Grind salt and rosemary with a mortar and pestle until it becomes a forest green shaded salt mixture.
Slicing through the loin at the fat layer
Step 3 - Dry the pork skin as much as possible with paper towels to make sure every drop of water is removed. Using a very sharp knife, score the rind horizontally across or in whichever pattern pleases you. Cut the loin inside where the fat divides the light and dark meat and smear with some of the Rosemary Salt mixture. Tie the loin with kitchen string (my husband did this but a butcher can show you or do this for you) and place in a baking dish lined with baking paper. Rub the Rosemary Salt mixture onto the pork rind. Drizzle over with oil and massage into the skin.
Bound tightly to keep the moisture in
Step 4 - Roast pork at 220c for 30 minutes, then lower the heat to 180c and roast for 45 minutes. If the skin hasn't "crackled" turn up the heat to 230c or 240c and blast for 10 minutes until blistered and crispy. Remove the crackling and divide among eaters. Slice the loin very thinly and serve with the Maple Apple sauce below and crackling.
Rosemary Salt
Maple apple sauce
  • 6 Granny Smith apples, peeled, cored and cut up
  • 1/2 cup water
  • 1/4 cup maple syrup
  • salt and pepper
Cooked apples prior to adding maple syrup and mashing
Step 1 - Place apple pieces and water in a saucepan over medium heat. Cover with lid and cook for 10 minutes until the apple is soft and mashable. Add maple syrup, salt and pepper and mash with a fork until it becomes a sauce.

Adapted from a recipe by Donna Hay for the Sunday Telegraph Magazine
full recipe: 

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