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!

SLOW COOKED SHREDDED BEEF RAGU PASTA

A budget cut of beef, simple pantry ingredients, a bit of patience and pappardelle pasta. This Slow Cooked Shredded Beef Ragu Sauce with Pappardelle may be the king of all pastas. It is hands down one of my all time favourite pastas ever!

There’s this annoying thing that’s been a thorn in my backside all my working life. This thing called pride. I’m not a professional food photographer, or food stylist, videographer or a chef for that matter. But that doesn’t matter. What does matter is being proud of everything that I have on my website, knowing that even if there are people out there who can take better photos and make better videos, that I’ve done the best I can do and I’m proud of what I’m sharing.
Oh – and the other reason San Remo Pappardelle is my pasta of choice for ragu is because it’s an egg pasta. The addition of egg makes the pappardelle stronger so it doesn’t break when tossed in the thick, rich sauce.

If you’ve just invested hours of patience, slow cooking the sauce to tender perfection, you’ll make me cry if you just dump cooked pasta in a bowl and spoon over the sauce. And the entire nation of Italy will cry with me. 😉 Please promise me you will toss the ragu with the pasta before serving! It is worth it, I promise. Look how every strand of the pappardelle is beautifully coated in that luscious ragu!! – 

Ragu is one of those recipes that really showcases the beauty of Italian cooking - everyday ingredients, fast prep, leave it to cook long and slow and you end up with a luscious dish that tastes like a million bucks. This ragu sauce is ideal to serve with pappardelle pasta because the shreds of beef "clings" better to the pasta. This recipe is based on classic slow cooked ragu recipes from Italian greats including Lidia Bastianich, Stafano Manfredi. It is not an exact replica of any, but is similar to many! This recipe makes enough sauce to serve 8 and freezes great.
Ingredients
Ragu
  • 2.5 lb / 1.2kg chuck beef or other slow cooking beef cut, cut into equal 4 pieces (Note 1)
  • 1 tbsp salt
  • Black pepper
  • 3 tbsp olive oil , separated
  • 3 cloves garlic , minced
  • 1 onion , diced
  • 1 cup carrots , diced (Note 2)
  • 1 cup celery , diced (Note 2)
  • 28 oz /800g crushed canned tomatoes
  • 3 tbsp tomato paste
  • 2 beef bouillon cubes, crumbled (Note 3)
  • 1 cup / 250ml red wine, full bodied (like merlot, cabernet sauvignon), or sub with beef broth
  • 1 1/2 cups / 375 ml water (Note 3)
  • 3/4 tsp dried thyme or 3 sprigs fresh thyme
  • 3 dried bay leaves
  • Extra salt and pepper , to taste

To Serve (Not all Sauce is used)
  • 1 lb /500g dried pappardelle, or other pasta of choice (Note 4)
  • Freshly grated parmesan cheese or parmigiano reggiano
  • Fresh parsley , finely chopped (optional)

Instructions
  1. Pat beef dry and sprinkle with salt and pepper
  2. Heat 1 tbsp olive oil over high heat in a heavy based pot. Add beef and sear each piece on all sides until browned (around 3 minutes in total), then remove onto a plate.
  3. Turn stove down to medium low and add remaining 2 tbsp of olive oil.
  4. Add garlic and onion and sauté for 2 minutes. Then add the carrots and celery and sauté slowly for 5 minutes.
  5. Add remaining Ragu ingredients (except extra salt and pepper) and return the beef to the pot (add the juices too). Turn the stove up and bring it to a simmer, then turn it down to low (Note 7) (see Note 5 for slow cooker and pressure cooker). Cover the pot and let it cook for 2 hours or until beef is tender enough to shred.
  6. Remove beef then coarsely shred with 2 forks. Return beef to the pot. Simmer for 30 minutes until sauce is reduced and thickened - beef will soften slightly more during this step.
  7. Do a taste test and adjust the seasoning to your taste with salt and pepper. ALSO add a little but of sugar (1/2 tsp at a time!) if it is a bit sour for your taste (Note 6). Place the lid on and set aside until ready to serve (it's even better the next day and freezes well for months!).
To Serve:
Bring a very large pot of water with 1 tbsp of salt to the boil.
Add pasta and cook for 1 minute less than the recommended cooking time as per the packet instructions.
Meanwhile, place 5 cups of the Ragu in a very large fry pan, dutch oven or use 2 normal size fry pans. (Note 4) Heat over high heat while the pasta is cooking.
When the pasta is ready, transfer it directly from the pot into the fry pan using tongs.
Add 3/4 cup of pasta water into the fry pan.
Gently toss the pasta (I use 2 wooden spoons) for 1 to 2 minutes, until the sauce water evaporates and leaves you with a thick Ragu sauce that coats the pasta.
Yell for your family to sit down at the dinner table because you need to serve it immediately!
Serve with plenty of freshly grated parmesan, or even better, with parmigiano reggiano.

Recipe Notes
1. Cut the beef into 4 pieces that are around the size of a baseball. The cook time of this recipe assumes you do this. In Australia, you can buy chuck and other slow cooking beef cut into cubes or into thick slices. If you use cubes, reduce the cooking time by 30 minutes, and just be mindful that it takes slightly longer to shred because you're working with lots of pieces of beef. 

2. Celery and carrots sautéed with the onions and garlic is called "soffritto" in Italian cooking. It is a very traditional base for many Italian dishes. Cooking them slowly over low heat releases their flavour and adds an extra dimension to this dish. BUT it is optional! I don't often have celery lying around and also, sometimes I don't have the energy for the extra chopping!

3. You could use liquid beef stock instead of water + stock cubes.

4. Pappardelle pasta is the thick wide pasta and is ideal for this recipe because the shreds of beef cling to the thick pasta strands.

You need a really large fry pan or dutch oven to make this using an entire 1lb/500g packet of pasta because you need the space to toss the sauce and pasta together with the pasta water. This is called "emulsifying" and it is a KEY secret to awesome pastas. Italian Nonna's will roll over in their graves if you don't do this! So if you don't have a large fry pan, do this step in two fry pans. I can't stress enough what a difference emulsifying makes to pastas!

5. To make this in a slow cooker or pressure cooker, follow recipe to the end of Step 4 on the stove (or if your slow cooker has a saute function, you can do it all in the slow cooker). Turn heat up to high, add wine, stir and simmer for 3 minutes. Then transfer it all to the slow cooker or pressure cooker, and add all remaining ingredients EXCEPT water and extra salt & pepper.

Slow cook on low for 6 - 8 hours (i.e. 6 is enough, 8 hrs is fine, any more = beef turns to mush). Or pressure cook on high for 40 minutes. Shred beef then following recipe.

6. The sweetness of canned tomatoes differs depending on brand (typically more expensive = sweeter). So adjust the sweetness of your sauce to your taste by using sugar - 1/2 tsp at a time.

7. Turn the heat of the stove down to a level where it is bubbling very, very gently - a few bubbles here and there. This usually LOW on Gas Stoves but might be medium low on electric stoves. If it is too high - i.e. simmering rapidly (lots of bubbles appearing rapidly) - then you run the risk of the bottom burning. If it is too low, it will take longer to cook.

8. Beef Ragu Nutrition analysis per serving of pasta with the sauce (assuming 1 packet of pasta + 5 cups of Ragu Sauce serves 6 people, as per the above recipe directions):



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