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 Tikka Masala


The Best Chicken Tikka Masala
A great British favourite, this chicken tikka masala is full of tantalising fragrant flavours.  It is even better when made a day ahead, so the flavours can develop all the more – delicious!

Serves 2 large portions/4 small portions
Prep time:  20 minutes (plus up to 24 hours to marinade)
Cooking time:  40-45 minutes

Ingredients
For the tikka marinade
4 tsp lemon juice
110g Greek yogurt
2 cloves garlic, peeled & grated
2cm fresh root ginger, peeled & grated
½ tsp chilli powder
1 ½ tsp paprika
1 tsp salt
1 ½ tsp ground cumin
2 tbsp vegetable oil
6 boneless chicken thighs, cut into bite sized portions

For the curry
4cm fresh root ginger, peeled & roughly chopped
8 garlic cloves, peeled
1 tbsp vegetable oil
50g butter
6 green cardamom pods
2cm cinnamon stick
4 cloves
250g vine tomatoes, blended to a fine puree
1 tbsp tomato puree
250 ml water
Salt, to taste
100ml single cream
1 tsp sugar
½ tsp chilli powder
1 tsp paprika
1 tsp garam masala

To serve
1 small handful of fresh coriander, roughly chopped
Basmati rice cooked as per packet instructions or Indian breads

Preparation method

1.  For the marinade, mix together all the ingredients in a bowl and add the chicken.  Cover the dish and place in the fridge overnight or for 24 hours).

2.  For the curry, in a food processor blend the garlic and ginger with a splash of water to make a paste, set aside.

3.  In a large pan or wok heat the oil with half of the butter and add the cardamom pods, cinnamon and cloves.  Allow the whole spices to sizzle for 15-30 seconds and then add the ginger and garlic paste.  Cook until the moisture begins to evaporate.  Now add the tomatoes and tomato puree and cook for 20 minutes until the paste releases the oil. 

4.  Preheat the oven to 240°C/Gas mark 9.

5.  Cook the paste for a further 6-8 minutes until the paste begins to deepen in colour, stirring often.  Pour in the water, bring to the boil.  Now pass the sauce through a sieve to release as much liquid as possible.  Discard the solids and set aside.

6.  Meanwhile, remove the chicken from the fridge and place on a foil lined baking tray.  Place in the oven for 8-10 minutes or until the chicken is slightly charred.  Remove from the oven, the chicken will finish cooking in the sauce.

7.  Heat the remaining butter in a pan and add the sauce, salt and a good splash of water simmer for 3-4 minutes.  Now add the chicken, cream, sugar, chilli powder, paprika and garam masala.  Allow the sauce to simmer for 4-5 minutes until the sauce is lovely and creamy adding more water if necessary.  Taste the curry and adjust the flavour with more salt, sugar or cream.

8.  Serve with basmati rice or Indian bread and a sprinkling of coriander.

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