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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!

The Best Chicken Francaise Recipe

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I believe Chicken Francaise, also known as Francese, was created in America by Italian immigrants. As with numerous Italian chicken dishes, they were originally intended for veal but taste equally as good with chicken. But back to the name, why an American Italian dish is called “French”, maybe it’s because of all the butter, maybe the wine, but one thing for sure, the flavours are superb! Enjoy it with a rich and dry white wine such as Suavignon Blanc or Chardonnay, or even a light red such as Gamay or Pinot Noir.  This chicken recipe has gone viral throughout the internet with amazing success. Let me know what you think.

Ingredients
  • 2 chicken breasts
  • Half cup plain flour
  • 2 eggs
  • 1 handful of fresh parsley
  • 50g - 2oz Parmesan cheese
  • 1 cup white wine (click for wine alternatives)
  • 1 cup chicken stock
  • 1 garlic clove
  • 4 tbsp olive oil
  • 4 tbsp butter
  • Half lemon
  • Salt and pepper

Steps

 Step 1
Remove chicken skin, then butterfly cut your breast. Hold a long sharp knife along the thicker part of the breast, place your hand on top and slice through the breast almost until the end. Cut parallel to your cutting board, and open the breast like a book. Place cling film on a board, add your breast spread open, sandwich it in cling film and flatten using the flat side of a meat mallet or the underside of a saucepan.

 Step 2
Crack the eggs into a large enough dish to fit chicken breast. Season eggs with salt and pepper, give them a light beat.

 Step 3
Chop the parsley (keep a few sprigs for garnish) and add half to egg wash.

 Step 4
Grate all the Parmesan cheese and add to egg-wash, mix well.

 Step 5
Get your wine and chicken stock portions ready.

 Step 6
Add the plain flour to a plate.

 Step 7
Peel the garlic and place in garlic press (or chop finely).

 Step 8
To a frying pan on moderate heat, add the olive oil and half the butter.

 Step 9
Coat the chicken in the flour, shake off any excess flour.

 Step 10
Dip the chicken in the egg wash, make sure it’s totally covered and place in hot oil.

 Step 11
Cook chicken for approx 4 minutes each side (depending on thickness). Flip over once brown and cook the other side. Transfer chicken to a hot plate and rest.

 Step 12
To the same frying pan on full heat, add the white wine (alcohol can catch fire so be careful, turn off heat first if unsure). Add the crushed garlic. Add the squeeze of half a lemon. Add the chicken stock. Add the remainder of chopped parsley. Add the remainder of butter and reduce for 2 minutes on full heat.

 Step 13
Return the chicken to the sauce and continue heating chicken on medium heat.

 Step 14
Serve the chicken, and reduce the sauce until it looks a little thicker (not too thick)

Recipe Source:recipe30.com

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