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!

Bacon-Brown Sugar Pork Tenderloin

Bacon-Brown Sugar Pork Tenderloin
Pork tenderloin is on regular rotation at my house, both for its flavor and its ease. We love to marinate it in sweet and savory teriyaki sauce, or serve it with a big dollop of Spanish-style romesco. But our current favorite is definitely wrapping that pork tenderloin in bacon, because as my neighbor says, pork on pork can never be a bad thing. And I must say I agree.
INGREDIENTS :
  • 1 pork tenderloin (about 1 1/2 pounds)
  • 3 tablespoons packed brown sugar
  • 2 teaspoons kosher salt
  • 1/2 teaspoon smoked or regular paprika
  • 1/4 teaspoon cayenne pepper
  • 4 to 6 slices bacon
  • 1 tablespoon canola oil (or other neutral high-heat oil)
  • 1/4 cup Major Grey's Chutney (See Recipe Note)
  • 2 tablespoons whole grain or Dijon mustard
INTRUCTIONS :
  1. Arrange a rack in the middle of the oven and heat to 350°F. Using a sharp knife, remove the silverskin (the silvery-white connective tissue running along the top) from the pork tenderloin. Pat the tenderloin dry with paper towels and set aside.
  2. Combine the brown sugar, salt, paprika, and cayenne in a small bowl. Rub all of the mixture into the pork tenderloin. Wrap the tenderloin with the strips of bacon, securing along the sides with toothpicks.
  3. Heat the oil in a large cast iron skillet, or other oven-proof skillet, over medium-high heat until shimmering. Add the bacon-wrapped tenderloin and sear undisturbed until deep caramel brown, 6 to 8 minutes. Flip the tenderloin and sear until the other side is browned.
  4. Mix the chutney and mustard in a small bowl and brush generously over the top of the tenderloin. Transfer the skillet to the oven and cook the tenderloin until the center registers 140°F, 10 to 14 minutes.
  5. Remove from the oven, loosely tent with aluminum foil, and set aside to rest for 10 to 15 minutes to allow the tenderloin to finish cooking and for the juices to redistribute into the meat. Remove the toothpicks and cut crosswise into 1/4- to 1/2-inch thick slices. Serve with any leftover chutney on the side.Recipe Notes
  6. Chutney: You can find Major Grey's Chutney at most grocery stores, or purchase it online. You can also substitute another favorite chutney or jam.

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