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!

Moroccan Lamb Tagine Recipe





Total:21 mins
Prep:20 mins
Cook:1 mins
Yield:Serves 4 to 6


In this Moroccan tagine, the addition of fennel (bisbas or besbas in Arabic) adds delicate flavor and subtle contrast to the classic preparation of lamb with peas, saffron, and ginger. Beef or goat may be substituted for the lamb.

This dish is often prepared in a pressure cooker, but the directions also include instructions for preparation in a conventional pot or traditional tagine. The cooking time reflects a Moroccan preference for peas stewed until very tender, allowing them to absorb the flavorful sauce fully.

Cooking time is for a pressure cooker; double the time indicated if using a conventional pot and triple it if slow cooking in a tagine.




Ingredients
1 lb. (about 1/2 kg) lamb, beef or goat
1 medium onion, chopped
3 cloves garlic, finely chopped or pressed
2 teaspoons salt
2 teaspoons ginger
1 teaspoon pepper
1 teaspoon turmeric
1/4 teaspoon saffron threads, crumbled
2 tablespoons chopped fresh parsley
2 tablespoons chopped fresh cilantro (coriander)
1/2 cup olive oil
1 pound (about 1/2 kg) peas
1 pound (about 1/2 kg) fennel bulbs, halved or quartered*
Steps to Make It


*To prep the fennel for cooking, peel off the outer layer or two from the bulbs, and cut off the thickest part (but not all) of the base before halving or quartering them.

Pressure Cooker or Conventional Pot MethodPlace the meat, onions, garlic, olive oil, parsley, cilantro, and spices (except for the saffron) in a pressure cooker or large pot; stir to combine the meat with the spices and herbs.

Cook over medium to medium-high heat, uncovered, for about 10 minutes, stirring several times to turn the meat and brown it on all sides.

Add about 3 cups of water, cover, and increase the heat to high. If using a pressure cooker, bring to pressure then cook over medium heat for about 30 minutes. (If using a conventional pot, bring the liquids to a boil. Reduce to a simmer then cook the meat for an hour or a little longer.)

Interrupt the cooking at this point to add the peas, fennel, and saffron. If the peas are not fully covered in liquid, add a little more water. Cover, bring back to pressure and cook for another 10 to 15 minutes (or simmer conventionally for 20 to 30 minutes) until the veggies are quite tender.

Check for seasoning and if necessary, reduce the liquids until a rich sauce has formed. Remove from the heat and serve.


Clay or Ceramic Tagine Method​ ​Scatter the onions, garlic, spices, and herbs across the bottom of the tagine.

Arrange the meat (bone side down) in the center and then arrange the peas and fennel around the meat.

Add 3 cups of water, cover and place the tagine on a diffuser over medium-low heat. Allow the tagine to slowly reach a simmer then cook for 2 1/2 to 3 hours (lamb may take longer) until the meat is very tender, and the liquids are reduced to a thick sauce.

During the cooking, you may add a little water if you feel it's necessary, but otherwise, leave the tagine undisturbed and avoid the temptation to cook with higher heat.

Serve directly from the tagine, which will hold the food warm for up to an hour.



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