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!

Salmon Fish Bone Tofu Soup

Milky and light brown fish soup, full of flavor and packed with nutritious goodness. This is what I cooked for my family for dinner tonight. Not only the fish head, there's alot of fish bones in it too! Especially my skinny Mother-In-Law needs alot of nutrients now. Like Calcium, Omega and other goodness. All in this pot of soup.

On a side note... This soup is NOT FISHY all. It depends on how you cook it.
This soup is indeed nutritious, delicious and versatile. You may replace with your favorite vegetables in this recipe. Besides, having a warm fish soup is so comforting especially during the cold season.

I spotted some really fresh Salmon fish head and bones at Chinatown wet market today. Fish monger packed them into a big pack and selling it to me at S$8.00. There's quite alot of meat in the heads and the bones actually. For those who often cook fish soup will know fish bones and head has lots of flavor.

And this is how I prepare this soup....

To prepare :
  • Gently, give the fish head and bones a quick wash. Drain them using kitchen towel. Yes, you will need quite alot of kitchen towels to do the work. But if you did it well, it would make pan-frying easier. Wet fish will makes your pan-frying fish experience turned disaster.
  • Heat up some oil in a wok, add in few slices of ginger, sprinkle some salt. Under medium fire, pan fry the fish head and bones until lightly browned. You don't have to put too much oil. Salmon itself is oily. It will release oil on its own.
  • Let the fish rest on the paper towel to drain up some excess oil. 
  • For all above fish bones and head is definitely too much for today. I divided them into two portion. 1 portion eat fresh, another portion wrap well and freeze away for next week. This means I only paid S$4.00 fish bones and head for 1 recipe.
Ingredients
(Source : Annielicious Food)
  • Some Salmon fish head and fish bones, about S$4.00 
  • 2 thumb sized ginger, sliced 
  • 2 cloves garlic, smashed 
  • 1 block of firm tofu 
  • 6 stalks of dried mushrooms, soaked till soft 
  • 1 stalk of leek 
  • slices of daikon 
  • 1 tbsp black peppercorn, crushed 
  • 1 bird's eye chilli 
  • a kettle of hot boiling water... This is important 
  • thumb sized rock sugar... This is important 
  • 1 tbsp fish sauce 
  • 2 tbsp Shao Xing Wine (Chinese cooking wine) 
  • 3 tbsp Green Lime Juice or Calamansi Juice 
  • dashes of pepper 
  • Salt to taste 

for garnishing 
some Spring onions 
some Coriander 

As I mentioned earlier, you may replace with your preferred vegetables. If you don't like Salmon, you can use Threadfin bones too. Add in more ginger if your tolerance of fishy smell is low. But as I said right at the beginning, this fish soup is not fishy at all. But that's provided you follow my instructions.

But I have to confess that pan-frying the salmon fish bones do makes your kitchen smells fishy. It's unavoidable. If you pan-frying fish at home before, you will know what I mean. So, your kitchen do smells fishy after pan-frying the fish bones. But the soup won't taste fishy. Is that clear now?

Method : 
  1. Boil a pot of water. We need hot BOILING water. Don't use room temperature water. 
  2. In a pot or a casserole, heat up a tsp oil, fry the ginger and garlic till fragrant. Add in pan-fried fish bones and head. Cover up with lid, let it fry for 5 to 7 minutes or until the fish bones and head is well heated up. Keep an eye on it, and don't burnt them. 
  3. Add in the hot boiling water until the water covers the fish head and bones. This is important. You have to follow this if you wants milky looking fish soup. 
  4. Add chinese mushrooms and black peppercorn. Turn fire to high heat and let it boil for 10mins. And then, add tofu, turn to medium low heat, and boil for another 10mins. 
  5. Remove any scums and oil floated on top of the soup during boiling process. Don't be lazy. Try to keep as little oil as you can in the soup. 
  6. Add shao xing wine, rock sugar, fish sauce, green lime or calamansi juice and salt. Give it a stir. Taste. 
  7. Add in daikon slices and bird's eye chilli, cover lid, continue to boil for another 10mins. Taste the soup, add more salt if needed. Once it is okay, heat off, and leave it there. 
  8. Until you are ready for the meal, reheat the soup, garnish with spring onions and coriander. 

Add in the hot boiling water into the the pan-fried bones gives milky looking fish soup base. If you use room temperature water, you might not be able to achieve what you want. I need to re-emphasize, it is HOT BOILING WATER. Don't give me lukewarm water or whatever nots. 

Boil the fish head and bones under high heat at the first 10 minutes is also part of the trick that gives milky appearance soup result.

Ooohhh,.. Look at the milky and light brown color! Is this what you want to achieve? If yes, please DO NOT skip any steps that I mentioned earlier. My soup looked clean and very little oil.

Flavorful fish bones soup and some vegetables. Yes, this is simple, economical and absolutely delicious. You don't have to dry up your wallet to eat well.

I still remember how my mother-in-law complaint to me about the fishy smell on her salmon fish bones soup that she tried cooking months ago while I'm away from home. Today, she's actually savoring every last drop of broth in her bowl. I'm glad.Flavorful fish bones soup and some vegetables. Yes, this is simple, economical and absolutely delicious. You don't have to dry up your wallet to eat well.

I still remember how my mother-in-law complaint to me about the fishy smell on her salmon fish bones soup that she tried cooking months ago while I'm away from home. Today, she's actually savoring every last drop of broth in her bowl. I'm glad.

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