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!

'Kinilaw' Sour and Sweet Fish From Philippines

This one dish is made from raw fish, but it tastes very delicious. Usually these foods are mixed with raw tuna and vinegar and orange, plus chili and onion to taste.
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This recipe makes use of one of the most commonly-eaten fish, tuna—but kingfish is also delicious here. It’s the mixture of vinegar and calamansi juice (which can be adjusted) which gently “cooks” the fish here in its acid, rendering it safe for consumption even if it’s made from fish out of the freezer. The sour-sweet fish is livened up with tomatoes and cucumbers and plenty of heat from chopped chilies and ginger, making this perfect with a bowlful of rice and a cold beer on a hot day.

Kinilaw Recipe :

 

Ingredients
  • 2 kgs. fresh fish Barracuda/Tuna/King Fish fillet, cut into cubes {I use fresh catch Barracuda for this post.}
  • 2 cups vinegar {or a little more to keep raw fish properly soaked}
  • 200 grms. ginger, peeled and minced
  • 200 grms. dry red onions, finely chopped
  • 200 grms. tomato, finely chopped
  • 400 grms. cucumber, coarsely peeled. Cut halve and quarter it lengthwise then cut thinly.
  • 8 pcs. red/green chilli hot, thinly sliced
  • ½ cup finely chopped spring onions
  • 100 ml. lemon or kalamansi juice {a little more or less defends on your taste}
  • 2 Tbsp. sugar
  • Salt and freshly grounded black pepper
Instructions
  1. If you are using frozen fish, thaw it inside the fridge below 4′C overnight. No need to descale the fish.
  2. Cut the fish head and pick the part which is after the ribs and few inches before the tail.{Other fish parts can be cooked for other dish like Sinigang sa Kamatis}.
  3. Using a fillet knife, run it through the meat avoiding the fishbones. Cut the fillet in half lenghtwise. Lay it flat on the chopping board, scale side down and carefully run the knife to remove the skin from the meat. Cut the fih fillet into cubes. Discard fish skin and fishbones. Transfer into a large mixing bowl.
  4. Pour in the vinegar into the bowl of raw fish. Toss generously, making sure all raw fish is properly soaked in vinegar. Cover with plastic film wrap and set aside for 30 minutes.
  5. While waiting for the soaked fish in vinegar, you can start preparing the other ingredients. You might wanna keep some of these chopped ingredients for topping your Kinilaw before serving it later on.
  6. Now after 30 minutes… Strain soaked fish and discard the used vinegar. Transfer into a larger mixing bowl, add all the chopped ingredients. Pour in the lemon/kalamansi juice. Season with sugar, salt and freshly grounded black pepper.
  7. Transfer it to a serving dish, top with reserved chopped ingredients. Keep it cool and serve with extra slice of lemon or kalamansi.
Good Luck !!

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