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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!

Thai Chicken Soup With Basil and Lime

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Thai chicken soup with basil and lime
This simple and nutritious soup has a wonderful blend of hot, sour, salty and sweet flavors that are characteristic of authentic Thai cuisine. We love hot and spicy food, so we also garnish this soup with slices of red chili to add an extra kick to the coconut-infused broth. But feel free to omit this step.

To make this soup as easy to prepare as possible we use store bought Thai red curry paste (Mae Ploy brand is our favorite), and shredded rotisserie chicken. We also add a few easy-to-prep, quick-cooking veggies — green beans, bean sprouts and scallions — to make it a substantial, yet light and refreshing soup.

To turn this soup into a complete meal you can add cooked rice noodles. It can also be varied in many different ways: for a seafood version, add shrimp, squid, scallops, fish or mussels; for a vegetarian version, use tofu or tempeh in place of chicken; use different combinations of fresh vegetables such as mushrooms, snow peas, or thinly sliced zucchini; add some canned Asian veggies like sliced bamboo shoots, water chestnuts or baby corn; replace the lime juice with lemon juice; or use cilantro (fresh coriander) instead of basil.

Thai chicken soup with basil and lime
SERVES 2
A warming and delicately spiced Thai chicken soup accented with fresh basil and lime juice.
1 tablespoon peanut or canola oil
1 tablespoon Thai red curry paste
2 garlic cloves — finely chopped
3 cups chicken stock
1 cup coconut milk
2 tablespoons fish sauce
2 teaspoons brown sugar
10 green beans — cut into ½-inch pieces
1 cup bean sprouts
1 scallion — thinly sliced on diagonal (reserve some green scallion to garnish)
1 cup shredded rotisserie chicken
1 tablespoon finely chopped fresh basil (plus some whole basil leaves to garnish)
2 tablespoons lime juice
1 red chili — thinly sliced into rounds, to garnish (optional)
HEAT the oil in a large saucepan over a medium heat. ADD the curry paste and garlic and cook for 1 minute, stirring. ADD the stock, coconut milk, fish sauce and brown sugar and bring to the boil. ADD the green beans, then reduce heat to medium-high and simmer for 3 minutes, uncovered. ADD the bean sprouts, chicken and scallion and simmer for 2 minutes, uncovered. REMOVE from the heat and stir in the basil and lime juice. SPOON into bowls, garnish with extra basil leaves, scallion and sliced red chili (if using).
more recipes @ http://www.mediterrasian.com

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