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!

Chicken Bastilla




Total:3 hrs
Prep:2 hrs 20 mins
Cook:40 mins
Yield:Serves 4


Chicken Bastilla is Morocco's famous chicken pie. A light, crispy warqa pastry shell conceals savory saffron chicken, spicy omelet stuffing and a crunchy topping of fried almonds sweetened with orange flower water. A garnish of powdered sugar and cinnamon adds to the fabulous blend of flavors.

This authentic recipe does take some time to prepare, but you'll find it well worth the effort. For how to assemble the bastilla step by step see how to make chicken bastilla.

Make bastilla a day or more in advance, and refrigerate or freeze until baking time. If you enjoy making this chicken version, you may want to give seafood bastilla a try.



Ingredients
For the Chicken:1 large chicken (cut into pieces, skin and fat removed)
2 large onions (sweet white, chopped)
1 tablespoon ginger
2 teaspoons salt
1 1/2 teaspoons white pepper
1 teaspoon black pepper
1 teaspoon turmeric (or 1/4 teaspoon Moroccan yellow colorant)
1 teaspoon saffron threads (crumbled)
2 to 3 sticks cinnamon (2 to 3 inches each)
1/4 cup butter
1/4 cup olive oil (plus more for frying and the pan)
For the Egg Stuffing:1/4 cup cilantro (fresh, chopped)
8 eggs (beaten)
For the Almond Topping:2 cups almonds (whole blanched)
1/2 cup powdered sugar
2 tablespoons orange flower water
1 tablespoon butter (softened)
For the Dough:1/2 cup butter (melted)
1 pound phyllo dough
1 egg yolk (beaten)
For the Garnish:1/2 cup powdered sugar
2 or 3 tablespoons cinnamon

Steps to Make It

Cook the ChickenMix the chicken with onion, spices, butter and oil in a heavy-bottomed stock pot or Dutch oven. Cover, and cook over medium to medium-high heat, stirring occasionally, for about 1 hour, or until the chicken is very tender and falls off the bone. Do not add water, and be careful not to burn the chicken or the sauce as this will ruin the dish.

Transfer the cooked chicken to a plate, and reduce the sauce in the pot until most of the liquids have evaporated and the onions form a mass in the oil. Stir occasionally, and adjust the heat as necessary to prevent burning.

While the sauce is reducing and the chicken is still warm, pick the meat off the bones, breaking it into small 2-inch pieces. Stir in several spoonfuls of the onion mixture, cover the meat and set aside.


Cook the Egg StuffingTransfer the remaining reduced onions and oil to a large non-stick skillet. Add the cilantro, and simmer for 1 to 2 minutes.

Add the beaten eggs, and cook as you would an omelet or scrambled eggs. Be patient, as it will take up to 10 minutes for the eggs to set. Some oil separating from the eggs is okay. Set the egg stuffing aside.

Make the Almond Topping

Heat 1/2-inch of vegetable oil in a skillet over medium heat for about 5 minutes, or until the oil is hot. Test the oil by dropping in an almond. If tiny bubbles rapidly rise around the almond within a few seconds, the oil is ready. If the oil boils and splatters immediately, it's too hot.

Fry the almonds in batches, stirring constantly, until golden brown. As soon as the almonds are richly colored, transfer them to a tray lined with paper towels to drain and cool. Fried almonds will continue to darken a bit after frying, so be careful not to burn them while they're in the oil.

When the almonds have cooled completely, pulse them in a food processor until finely ground. Put them in a mixing bowl, and with your hands work in the powdered sugar, orange flower water and softened butter. Set aside.

Assemble the Bastilla
See How to Make Chicken Bastilla for photos showing the assembly process.

Generously oil a 14-inch or larger round pan. If you don't have a round pan, work on an oiled flat baking sheet or large plate, and shape a circular pie as best you can.

Brush melted butter on each sheet of warqa or phyllo dough as you work. If using phyllo, take care to keep it covered with plastic as you work since it dries out very quickly.

Using your pan as a guide, overlap three or four single layers of warqa (shiny side down) – or double layers of phyllo dough – in a circular fashion, so that the inner halves of the pastry dough overlap in the center, and the excess dough drapes over the edges of the pan. Butter each layer of dough.

Place one buttered 12-inch circle of warqa, or two 12-inch buttered circles of phyllo, in the center of the pan. This forms the bottom of the pie.

Cover the 12-inch circle with the chicken filling, and distribute the egg stuffing over the chicken.

Top the egg stuffing with another buttered 12-inch circle of warqa (shiny side up), or two 12-inch buttered circles of phyllo. Spread the almond topping over this layer of dough.

Fold the excess dough up and over the almonds to enclose the pie. Flatten and smooth any bulky areas.

Brush butter on the folded edges of dough, and top with 3 more overlapping layers of warqa (shiny side up) or phyllo, brushing butter on each layer. Fold down the edges of dough and carefully tuck them underneath the pie, molding and shaping the bastilla as you go.

Use your hands to spread the egg yolk over the top and sides of the pie. Lightly oil the bastilla in the same manner.

The bastilla is now ready for baking. It can be covered in plastic and stored in the refrigerator for up to 1 day, or in the freezer for up to 2 months.

Bake the Bastilla
Preheat an oven to 350 F (180 C). Oil a flat baking sheet.
Place the bastilla on oiled baking sheet in the middle of the oven, and bake for 30 to 40 minutes, or until deep golden brown. Note that a bastilla placed into the oven directly from the freezer will take up to 1 hour to bake.

Garnish and Serve
Generously coat the bastilla with sifted powdered sugar. Sift the cinnamon on top of the sugar, or use the cinnamon to decorate the top of the pie.



Serve immediately.


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