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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!

KUNG PAO CHICKEN

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There’s this Malaysian Restaurant here in Vancouver that our family frequently dine at to celebrate birthdays and special occasions. Our favorite dish to order is Kung Pao chicken. Traditionally, it is a spicy dish, but we always ask for a milder one. I have always wanted to cook Kung Pao chicken at home and so I was glad that I was able to do that over the weekend.

Kung Pao chicken is a very popular Chinese dish. It traditionally consists of chicken, vegetables, peanuts and dried chili peppers. Beef, pork, shrimp or tofu may be used instead of chicken. In this recipe, the diced chicken is first marinated and then stir-fried with garlic. The vegetables are separately stir-fried in seasoned oil and then combined with the chicken. The dish is finished off with the sauce and peanuts. The result is a moist, flavorful chicken dish with sauce that has a tangy kick to it





KUNG PAO CHICKEN



PREP TIME
25 mins
COOK TIME
15 mins
TOTAL TIME
40 mins

Serves: 4-5 servings



INGREDIENTS1 lb. boneless, skinless chicken thighs, cut into 1-inch pieces
2 tablespoons oyster sauce
1 teaspoon cornstarch
3 tablespoons vegetable oil
4 small dried red chilies, for mild or 8 dried red chilies for spicy
4 cloves garlic, chopped
2 stalks celery, diced
½ red bell pepper, diced
1(8oz) can sliced bamboo shoots, drained
2 teaspoons cornstarch dissolved in 1 tablespoon water
⅓ cup roasted peanuts
Sauce:
¼ cup balsamic vinegar
¼ chicken broth
3 tablespoons Chinese rice wine or dry sherry
2 tablespoons hoisin sauce
1 tablespoon soy sauce
2 teaspoons sesame oil
2 teaspoons chili garlic sauce
2 teaspoons sugar


INSTRUCTIONSCombine oyster sauce and cornstarch in a bowl. Stir to coat chicken well. Let stand for 10 minutes.
In another bowl, combine all sauce ingredients. Set aside.
Place a skillet or wok over high heat. Add 2 tablespoons oil, swirling to coat sides. Add chilies and cook until fragrant, about 10 seconds.
Add chicken and stir-fry for 3-5 minutes or until no longer pink. Transfer into a plate and set aside.
Using the same skillet, add remaining 1 tablespoon oil. Add garlic and cook, stirring until fragrant, about 10 seconds.
Add celery, bell pepper and bamboo shoots; stir-fry for 2 minutes.
Return chicken and chilies to the skillet; stir-fry for 1 minute.
Add sauce and bring to a boil. Add cornstarch solution and cook, stirring, until sauce boils and thickens. Add peanuts and stir to coat.
Transfer to a serving plate and serve with steamed rice.
Enjoy!


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