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!

Cilantro Lime Chicken With Mango

This cilantro lime chicken is easy to make and packed with flavor! While the cilantro lime chicken can stand on its own, I've included accompanying recipes for a cilantro lime rice base and a delicious mango avocado salsa. This transforms this cilantro lime chicken into a tasty and healthy meal that is sure to be a hit.

INGREDIENTS:

Chicken Marinade
1 and 1/2 pounds boneless skinless chicken breasts (can also use thighs)
3/4 cup + 1 tablespoon freshly squeezed orange juice, separated
1/2 cup + 1 teaspoon olive oil, separated
1/3 cup + 2 tablespoons freshly squeezed lime juice, separated
1 and 1/2 teaspoons lime zest, separated
1 tablespoon honey
1 teaspoon + 1/4 teaspoon cumin, separated
2 and 1/2 tablespoons soy sauce
2 teaspoons minced garlic
1/2 cup coarsely chopped cilantro, separated
Mango Avocado Salsa
1 ripe mango
1 ripe avocado
1/4 cup finely diced red onion
1/4 cup finely chopped red pepper
1 tablespoon finely chopped jalapeno, optional
Fine sea salt and freshly cracked pepper
Optional: cilantro-lime rice or quinoa (see recipe notes)

INSTRUCTIONS:


  1. • MARINADE: Whisk together all of the marinade ingredients: 3/4 cup orange juice, 1/2 cup olive oil, 1/3 cup lime juice, 1 teaspoon lime zest, honey, 1 teaspoon cumin, soy sauce, garlic, and 1/4 cup cilantro in a medium-sized bowl. Add salt and pepper to taste (I use about 1 teaspoon salt and 1/4 teaspoon pepper). Remove about 1/2 cup of marinade, and pour the rest into a large resealable bag.
  2. • Trim the chicken of fat. Pound the breasts to even thickness or slice in half to get evenly sized breasts and place in the bag with the rest of the marinade. Place in the fridge for at least 30 minutes making sure to flip the bag halfway through the time it is in the fridge. I recommend marinating for 2-8 hours.
  3. • COOK CHICKEN: The instructions below are to grill the chicken. To see other methods of cooking chicken, read right above this recipe card. Lightly oil the grill grate or grill ridges on a grill pan or add 1 tablespoon oil to a skillet and then place the marinated chicken on the grill. Discard leftover marinade.
  4. • Grill for 10-12 minutes or until chicken juices run clear and internal temperature is at 165 degrees F. Flip the chicken halfway and brush it generously with the reserved 1/2 cup marinade.
source: chelseasmessyapron.com

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