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!

SLOW BRAISED SHORT RIBS IN RED WINE

As the weather changes, so does my appetite. The craving for comfort foods takes over my life and turns me into this crazed food zombie, on the hunt for some meatloaf and mash! Exaggerated much? But there’s nothing quite like turning a chunk of beef into a melty nugget of tenderness over a long period of time. Meats like brisket and pork butt, which can take up to 18 hours to cook properly, become amazing barbecue and roasts. I think it’s pretty cool that a chuck roast and a filet mignon can come from the same animal but taste so off-the-wall different.

One thing you’ll need to slow cook tough cuts of meat into a happy place is either a crock pot or a cast iron casserole dish. Cast iron has been around for years (300ish if your interested) and was a preferred cooking tool by settlers, cowboys and anyone else wandering around the prairies because of its ability to keep the heat. It’s tough too, and cowboys are tough. I just can’t picture John Wayne simmering his beans with a shiny All Clad.
I don’t own a crock pot and up until this blue-enameled cast iron bad boy was sent to me, all I had was a small heavy pot which was the perfect size to feed, umm, one very small cowboy, which in my home is not gonna fly. The pot is from the new Martha Stewart collection and has eight quarts worth of roasting real estate. That’s behemoth!  (Don’t you love Thesaurus.com?) They also come in a bunch of different colors so chances are there’s one to fit your kitchen paint job.
I braised the short ribs for two hours in a bath of wine and broth. If I was a rib this is how I’d want to go out. The bones fell right from the meat when they were done and the smell was ludicrous. I strained the leftover liquid and reduced it a little for the sauce. Served alongside some heavily buttered mashed potatoes, this was classic comfort food! The casserole dish performed great, even through clean up which was a breeze considering it had just been in the oven for two hours.
 
Amazing slow cooked short ribs melt in your mouth

BRAISED SHORT RIBS 

COURSE: MAIN COURSE
 
CUISINE: AMERICAN
 
PREP TIME: 30 MINUTES
 
COOK TIME: 2 HOURS
 
TOTAL TIME: 2 HOURS 19 MINUTES
 
SERVINGS: 4 PEOPLE
 
CALORIES: 199 KCAL
 
AUTHOR: FOODNESSGRACIOUS
Incredible beef short ribs slow cooked in the oven.

INGREDIENTS

  • 2 pounds beef short ribs
  • 2 Tablespoons canola oil
  • Salt and pepper
  • 1/2 of an onion chopped
  • 2 carrots chopped
  • 3 ribs celery chopped
  • 3 cloves garlic sliced thickly
  • 3/4 bottle of Cabernet or any other dry red wine
  • 4 sprigs fresh rosemary
  • 3 cups chicken stock

INSTRUCTIONS

  1. Place the casserole dish in the oven and preheat to 300 degrees.
  2. In a large skillet, heat the oil until just smoking. Season the ribs with salt and pepper and sear on top and bottom until brown and crispy. Transfer to a plate.
  3. Add the onion, carrot, celery and garlic to the pan and cook until soft, about 15 minutes. Pour in the wine and rosemary, bring to a boil over a high heat. Take the casserole dish from the oven and place the ribs inside
  4. Pour the wine mixture over the ribs and add the chicken stock. Place the lid on top and put it into the oven.
  5. Cook for 1 1/2 hours and then turn each rib over. Cook for a further 30 minutes without the lid. Transfer the ribs to a plate and cover with foil. Strain the leftover liquid into a pan and reduce further until it thickens. Add a couple teaspoons of cornstarch/water mixture if you need it thickened faster.
  6. Serve with mashed potatoes and the sauce poured over the ribs. Garnish with fresh parsley if desired.
Nutrition Facts
Braised Short Ribs
Amount Per Serving
Calories 199
* Percent Daily Values are based on a 2000 calorie diet.
more recipes @ foodnessgracious.com
 

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