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!

Moroccan Lamb or Beef Tagine With Prunes





Total:85 mins
Prep:15 mins
Cook:70 mins
Yield:Serves 4 to 6

Beef or lamb with prunes is a classic sweet and savory Moroccan dish that combines dried prunes and meat with the fragrant spices of ginger, saffron, cinnamon, and pepper. It's popular as a traditional offering at holiday gatherings, weddings, and other special occasions.


Of course, no special occasion is needed in order for a tagine of lamb with prunes to appear on the table. Prep work is minimal, making it a perfect choice for casual family meals. Although the use of a Moroccan clay or ceramic tagine is most traditional, most Moroccan cooks prepare this dish in a pressure cooker as it speeds things up. Tender cuts of meat (some pieces on the bone) will give the best results.

The cooking time listed below is for the pressure cooker method. Double or triple this time if using a conventional pot or tagine. Note that the onion preparation is different for the tagine method.


Ingredients
2 pounds tender beef or lamb (cut into three-inch pieces)
2 medium onions (grated or very finely chopped)
3 cloves garlic (finely chopped or pressed)
3/4 teaspoon salt
1 teaspoon pepper
1 teaspoon ginger
1/2 teaspoon saffron threads (crumbled)
1/2 teaspoon turmeric
One or two 3-inch to 4-inch pieces of cinnamon stick
1/4 cup olive oil
1/4 cup butter, softened
2 1/2 cups water
1/2 pound prunes
1 tablespoon honey
2 tablespoons sugar
1 1/2 teaspoons ground cinnamon
Handful of cilantro sprigs (tied together)
Optional: 1 tablespoon toasted sesame seeds (optional)
Optional: Handful of​ fried almonds



Steps to Make It
Cook the Meat
Pressure Cooker or Conventional Pot Methods
In a bowl, mix the meat with the onions, garlic, and spices. Heat the oil and butter in a skillet over medium heat and brown the meat for a few minutes until a crust forms.
If using a pressure cooker, place the meat mixture in the pressure cooker and add 2 1/2 cups of water and the cilantro. Over high heat, bring the meat and liquids to a simmer.
Cover tightly and continue heating until pressure is achieved. Reduce the heat to medium, and cook with pressure for 45 to 50 minutes. (Note: About halfway through cooking, remove 1/2 cup of the liquid and reserve.) After the meat has cooked, release the pressure and reduce the sauce, uncovered, until it is mostly oil and onion.
If using a conventional pot, add the meat mixture to the pot along with the 2 1/2 cups water and cilantro. Cover and simmer the meat over medium heat for 2 to 2 1/2 hours, until the meat is very tender and breaks away easily from the bone. (Note: About halfway through cooking, remove 1/2 cup of the liquid and reserve.) If necessary, add a small amount of water during cooking to prevent the meat from scorching. When the meat has cooked, reduce the sauce until it is mostly oil and onions.
Clay or Ceramic Tagine Method
Slice one of the onions instead of grating it, and layer the onion rings on the bottom of the tagine.
Mix the meat with the grated onion, garlic, oil, butter and spices, and place on the sliced onion. Add 2 1/2 cups water, cover, and place the tagine on a diffuser over medium heat. Allow the tagine to reach a simmer (this may take a long time), and then reduce the heat to the lowest temperature necessary to maintain the simmer.
Allow the tagine to cook for 3 hours or longer until the meat is very tender and the liquids are reduced. (Note: About 2 hours into the cooking, remove 1/2 cup of the liquid and reserve.)

Cook the Prunes
While the meat is cooking, put the prunes in a small pot and cover with water. Simmer over medium heat, partially covered, until the prunes are tender enough to easily pinch off the pit or pinch in half. (The amount of time this takes can vary greatly depending on the prunes, but the average is 15 to 30 minutes.)
Drain the prunes, then add the 1/2 cup of reserved liquid from the meat. Stir in the honey, and cinnamon, and simmer the prunes for another 5 to 10 minutes, or until they are sitting in a thick syrup.

To Serve
Arrange the meat on a large serving platter and spoon the prunes and syrup on top. If you've cooked in a tagine, it doubles as a serving dish.
If desired, garnish with sesame seeds and/or fried almonds. Moroccan tradition is to gather around the table and eat from this communal plate, using Moroccan bread to scoop up the meat and sauce.


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