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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!

Vietnamese Chicken Salad With Rice Noodles

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This Vietnamese Chicken Salad starts with the tangy, salty, lime-and-garlic-y dressing, which totally shines with the cooling mint + cilantro and a handful of fiery-crisp serrano peppers, which all results in me wrapping my fork with a combination of spicy-cool, salty-tangy veggies, chicken, and noodles !!


This Vietnamese Chicken Salad with Rice Noodles <— important! is so, so, so, sooo yummy. Like to the point that I can’t even think of anything else to say besides “it’s so, so, sooo yummy.”

The shredded carrots, cabbage, chicken, and noodles make the base of the salad, and the mint, cilantro, and green onions just make my flavor-loving heart soar: it’s like I’m taking a cooling spa bath with every bite.



And then, the dressing. I’m just going to tell you right now: its primary saltiness comes from the fish sauce.

Vietnamese Chicken Salad with Rice Noodles Recipe
Vietnamese Chicken Salad with Rice Noodles made with chicken, cabbage, carrots, homemade dressing, lime juice, mint, and cilantro.



INGREDIENTS

For the dressing

  • 3 serrano peppers
  • 4 cloves garlic
  • 2 tablespoons rice vinegar
  • 2 tablespoons brown sugar
  • 4 tablespoons fish sauce
  • 6 tablespoons lime juice
  • 6 tablespoons vegetable oil

For the salad

  • 1 lb. boneless skinless chicken breasts
  • 6 ounces rice noodles
  • 4 large carrots, peeled
  • 8-10 full leaves of green cabbage
  • one large handful of each — cilantro leaves, mint leaves, and green onions

INSTRUCTIONS

DRESSING: 

  • Thinly slice the serranos and set aside. Pulse all the remaining dressing ingredients in a food processor until smooth. Stir in the sliced serranos.

CHICKEN: 

  • Bring a large pot of water to boil over high heat. When the water reaches a rolling boil, add the chicken breasts, turn heat off, and cover with a tight-fitting lid. Let the chicken cook for 25-30 minutes – while it’s cooking, you can prep the other ingredients. Remove from water, let cool slightly, and shred with two forks. Pour a small amount of the prepared dressing on the chicken to give it flavor and set aside or refrigerate until ready to use.

NOODLES: 

  • Soak the rice noodles in a large bowl of cold water for 15 minutes or until softened. Heat a small amount of the dressing in a large skillet over medium high heat. Add the drained noodles and stir-fry for 5 minutes (I found it helpful to grab the handle and give the pan a good shake every 30 seconds or so). Cut through the noodles with a kitchen scissors if you want them to be shorter and easier to eat.

VEGETABLES: 

  • Cut the carrots into pieces and pulse in a food processor for 10-15 seconds until finely chopped. Shred the cabbage. Mince the cilantro, mint, and green onions.


ASSEMBLY: 

  • Toss the chicken, noodles, vegetables, and remaining dressing (to taste) together. Serve immediately.

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