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!

SALTED COD WITH EGGS (BACALHAU A BRAS)

Salted cod with eggs or bacalhau a bras in Portuguese is a beloved dish. Honestly, it is said there are over 1000 recipes for salted cod in Portugal. This particular recipe of salted cod with eggs was mentioned to me on numerous occasions while I visited there as the most loved dish. I got this recipe from our guide Lidia, in Sintra. We had such a great time together, I highly recommend her to anyone visiting Sintra and wants a great guide with an immense knowledge about the history of the area. You can find the company she works for here. Be sure to ask for Lidia!

Salted cod or sometimes called just salt cod has been a staple in Portuguese cuisine for centuries, some 500 years. It was a means of preservation prior to refrigeration. The cod is first salted and then dried. The process of this ancient technique, makes the cod tastier. To cook it you must first soak the cod in water and rinse out the salt. Bacalhau was a cheap source of protein and therefore used often in the cuisine. Over time this has changed and although it is still beloved, it is no longer cheap. Bacalhau was nicknamed fiel amigo meaning loyal frienddue to its high consumption.

It also gained popularity not only in Portugal but other Roman Catholic countries as well because the church forbade eating meat on many days so bacalhau was the chosen fish to consume on the non-meat days.

I found my salted cod on Amazon and here is a link if you would like to buy some. They come in cute little wooden boxes. Make sure to get it deboned.

This recipe was an absolute delight, it has of course the bacalhau but also eggs, onion, olives and my favorite part was the addition of fried potatoes. This salted cod with eggs recipe is truly a comfort food and once you try it, you will totally understand why this dish is one of the salted cod favorites in all of Portugal.

If you love this salted cod with eggs recipe be sure to check the other authentic recipes we enjoyed as part of our International Cuisine meal. You can get the recipes plus learn more about this fascinating country by checking out “Our Journey to Portugal”.


Salted Cod with Eggs (Bacalhau a Bras)

It is said that there are more than 1000 recipes for bacalhau. This one Salted cod with eggs is clearly one of the most popular. Make it and see why, a true comfort food! You will need to plan for the cod to soak overnight for the recipe.

soaking time 12 hours
Servings 4
Calories 572 kcal


Ingredients1 pound salted dried cod boneless, if you can find it
1 1/4 cups olive oil divided
1 large potato cut into small matchsticks
1 cup thinly sliced onion about 1/2 medium onion
8 eggs 4 whole, 4 just yolks
1/4 cup chopped parsley
4 cloves garlic chopped
12 black olives
Salt and pepper to taste


Instructions:Place the dried salt cod in a bowl of cold water overnight. Empty and refill with new water at least twice during this soaking time. The next day, drain out the water for the last time. (Make sure to remove the skin and bones from the cod if you couldn’t find it boneless)
Add about 1 cup of oil into a deep pot or fryer and warm it over medium-high to high heat. Fry the potatoes in the hot oil until golden and crispy, about 7 to 10 minutes. Once the potatoes are fried, remove from the oil with a slotted spoon and place them on a paper towel to drain the excess oil.
Add 1/4 cup oil to a skillet. Add the thinly sliced onion, chopped garlic and bay leaf and sauté together until golden, about 7 minutes. Add the shredded cod in with the onions and garlic and cook for several minutes until the fish absorbs the oil. Add the cooked potatoes and mix together.
Next, lightly whisk the eggs, salt, and pepper together in a bowl. Add the eggs to the fish and potatoes and cook on very low heat until the eggs are soft, about 3 minutes. It’s important to remove the skillet from the heat before the eggs actually solidify you do not want scrambled eggs.
Serve hot and garnish with olives and parsley.


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