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!

MARINATED FLANK STEAK WITH CILANTRO PARSLEY VINAIGRETTE

This Marinated Flank Steak with Cilantro Parsley Vinaigrette is a great recipe for grilling flank steak.



MARINATED FLANK STEAK

This recipe calls for flank steak that is coated with a light marinade (just some simple seasonings). That gets the flavor going on the steak while it’s grilling. When it’s time to serve, the marinated flank steak is sliced thinly and served with a simple, homemade cilantro parsley vinaigrette.



WHAT IS FLANK STEAK?

Flank steak is beef steak cut from the abdominal muscles or lower chest of the cow. It’s a common cut of steak found in your grocery store meat department. It’s usually sold in a 1 to 2 pound piece that is folded over and packaged.



WHAT’S THE BEST WAY TO COOK FLANK STEAK?

Flank steak can be grilled, pan-fried, broiled, or braised (the braising method will be the most tender option). Marinated flank steak is another way to add tenderness (and flavor!) Cutting flank steak properly after cooking is super important. If you cut flank steak with the grain, it will be tough and not very appetizing. Cut thin slices across the grain, and you’ll end up with a more tender meat.




I like to grill flank steak to a medium rare doneness, and then I let it sit for about 10 minutes before slicing it thinly across the grain. Serve this marinated flank steak and pass the vinaigrette for drizzling on top. It’s delicious!





MARINATED FLANK STEAK WITH CILANTRO PARSLEY VINAIGRETTE


Another great way to eat flank steak!
Course Main Course
Cuisine American
Keyword grilling, Steak
Prep Time 25 minutes
Cook Time 9 minutes
Marinating Time 2 hours
Total Time 34 minutes
Servings 4 servings
Calories 584 kcal


INGREDIENTS
VINAIGRETTE:
1/2 cup lightly packed chopped cilantro leaves
1/2 cup lightly packed chopped flat leaf parsley
4 cloves garlic, chopped
4 teaspoons sherry wine vinegar
1/2 teaspoon salt
1/2 cup extra virgin olive oil
freshly ground black pepper

STEAK:
2 tablespoons extra virgin olive oil
1 tablespoon sherry wine vinegar
1 clove garlic, minced
1/2 teaspoon oregano
1/2 teaspoon ground cumin
freshly ground black pepper
1 3/4 pounds flank steak
salt, to taste


INSTRUCTIONS
PREPARE THE VINAIGRETTE:
In a blender, combine all ingredients except the pepper and oil. Pulse a few times, and then with the motor running, gradually add oil through the hole in the blender lid. Stop once or twice to scrape down sides so that all ingredients are incorporated. The vinaigrette will thicken.

Transfer to a bowl and season generously with pepper. Add more salt to taste, if needed. Use within an hour of preparation.


PREPARE THE STEAK:
In a 13x9-inch pyrex pan, stir together the oil, vinegar, garlic, oregano, cumin and 1/2 teaspoon pepper. Add the steak and let it marinate at room temperature, turning occasionally, for up to 2 hours.

Meanwhile, preheat the grill to high. When the grill is ready, lift the steak from the marinade (reserve marinade) and lay steak on the rack. Cover and grill, turning once and basting occasionally with marinade, until the steak is done to your liking, about 9 minutes for rare, which is recommended.
Transfer steak to cutting board and let it rest for 5 minutes.

FOR SERVING:
Carve the steak across the grain and at a slight angle to the cutting board into very thin slices. Season to taste with salt and pepper, and arrange steak slices on plates. Serve immediately, passing vinaigrette to drizzle on meat.


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