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!

CHICKEN LAKSA (COCONUT CURRY SOUP) RECIPE

Laksa! It’s a coconut curry soup that’s widely popular in Southeast Asia, especially Indonesia, Malaysia, and Singapore. While this soup is super popular in that part of the world, here where we live in Canada, a lot of people are missing out on this yummy goodness!!


The soup itself is slightly thick and creamy with a delicious coconut-y flavour and you eat that traditionally with some rice noodles (although we also love to eat it with udon noodles). It’s a very rich, very comforting soup that should definitely get more recognition!



Moving on to the recipe itself, you are gonna get kinda intimidated by the list of ingredients. It’s a bit long and some items are a bit exotic. But believe me, it’s worth all the hassle because they are what makes this soup so flavourful and fragrant! And although it looks complicated to make, this soup only took us 20-30 minutes to make.

Chicken Laksa (Coconut Curry Soup) Recipe



Ingredients

  • 1 tbsp coriander seeds
  • 1/2 tsp black pepper corn
  • 1/2 tsp cumin seeds
  • 2 tsp turmeric powder
  • 1 tsp clove powder
  • 1 lemongrass stalk
  • 3 kaffir lime leaves
  • 2 garlic cloves finely chopped
  • 3 cups chicken broth
  • 1 1/2 cups coconut milk about 400 ml
  • 3 tbsp laksa paste
  • 200 grams boneless skinless chicken breast
  • 15 medium-sized shrimps
  • 450 grams wide rice noodles
  • 1 tbsp canola oil
  • coriander leaves for toppings
  • lime wedges for toppings
  • fried shallots for toppings
  • sliced onions for toppings

Instructions

  1. Toast the coriander seeds over medium high heat until fragrant. Transfer to a mortar along with black pepper corn, cumin seeds, turmeric powder, and clove powder. Grind using a pestle until the mixture is smooth and uniform.
  2. Add canola oil into a large pot and heat over medium heat. Cook garlic until fragrant and tender, then add the grinder spice mix and laksa paste and mix well. 
  3. Add in the chicken broth and coconut milk, and stir until well combined. Put in the lemongrass and kaffir lime leaves. Let simmer over medium heat for 10 minutes.
  4. In a separate pot, cook the noodles in boiling water according to packaging instructions. Once cooked, drain off excess water and set aside.
  5. In a separate pot, cook the chicken breast in boiling water for about 10 minutes, or until fully cooked. Remove from heat and let cool. Once the chicken is cooled, shred the chicken into thin strips and set aside.
  6. Add the shrimps skin-on into the laksa soup and let cook for about 5 minutes until the shrimps are fully cooked.
  7. To serve, place noodle in a bowl and pour soup over the noodles to fill up the bowl. Add the shredded chicken, coriander leaves, lime, fried shallots, and onions as toppings.

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