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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 Beef Rendang (Spicy Beef Stew with Coconut)

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The Best Beef Rendang
(Spicy Beef Stew with Coconut)
For those of you that have never tried Beef Rendang, I can only describe it as a rich and tender coconut beef stew which is explosively flavoursome – it will definitely win you over!

Serves 4
Prep time:  20 minutes
Cooking time: 1 hour 45  minutes

Ingredients
For the curry paste
5 shallots, roughly chopped
1 inch fresh ginger, peeled and roughly chopped
1 tbsp galangal
5 garlic cloves, peeled and roughly chopped
3 lemongrass, outer layer removed and roughly chopped
8 dry chillies, soaked in water and roughly chopped
1 tsp turmeric

For the Curry
3 tbsp vegetable oil
1 cinnamon stick, broken in half
3 star anise
3 cardamom pods, crushed with the back of a spoon
3 cloves
650g/1lb 7oz braising steak, cut into 2cm/1 inch cubes
400ml/14 fl oz coconut milk
2 tsp tamarind puree
6 kaffir leaves
Zest of a lime1 tbsp sugar or palm sugar
Salt to taste
50g/2oz desiccated coconut flakes

Basmati rice to serve, cooked as packet instructions
Small bunch of fresh coriander, chopped

Method

1.       Place all of the curry paste ingredients into a food processor and blend until you have a smooth puree.
2.      Heat a large wok and add the oil.  Add the curry paste and fry for 1-2 minutes until the paste in darker in colour and very aromatic.
3.      Add the cinnamon, star anise, cardamom pods and cloves and cook for a further minute and then add the braising steak.
4.      Fry the meat in the paste until browned all over and then pour in the coconut milk and tamarind, simmer and then add the kaffir leaves, lime zest and sugar.  Season with salt and simmer for 1 – 1 ½ hours, stirring frequently.  When ready the meat should be very tender and the sauce very rich.
5.      Meanwhile in a dry pan toast the coconut flakes until they are deep brown in colour.  Blend to a powder in either a food processor or pestle and mortar.  When the curry is ready stir in the coconut and mix through.
6.      Serve with basmati rice and a sprinkling of fresh coriander.

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