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!

Korean Style Tuna Cakes


Korean style tuna cakes are particularly popular among kids. It will make a great snack or banchan (side dishes) in their lunch box !


Until recently, I didn’t realise that there are tuna cakes (also known as tuna patties) available in another cuisine! I don’t know what influenced what, I want to share how our family enjoys tuna cakes.

KOREAN STYLE TUNA CAKES AND CHAMCHIJEON

In Korea, we have Chamchijeon (참치전). Roughly translated, it means tuna pancakes. (Though they are different to a typical Korean pancake as there isn’t much ‘batter’ so to speak.)
Chamchijeon is more thinly spread than the typical tuna cakes, and it’s reliant on egg as a glueing agent. So it is slightly eggy. (You can definitely see the egg colour in the bottom of the cake.)
Also, you don’t shape it before you cook it (like you would do for the tuna cakes or patties), but rather, you use a spoon to gently place the scoop of tuna/vegetable/egg mixture.





INGREDIENTS FOR TUNA CAKES (SERVES 4)


MAIN

·         185g/6.5 ounces canned tuna (net weight of the tuna 130g/4.6 ounces, FYI, the tuna was in spring water), drained
·         1 large egg, beaten
·         20g/0.7 ounces green onion, finely chopped
·         45g/1.6 ounces brown onion, finely chopped
·         1 red cayenne chilli (15g/0.5 ounces)
·         1 green cayenne chilli (10g/0.4 ounces)
·         1 tsp all purpose flour
·         1/8 tsp fine sea salt
·         A few sprinkles of ground black pepper
·         (optional) 1/2 cup panko (Japanese bread crumbs) – Use this if you love crunchy texture. It also helps with holding the tuna cake firm.
·         Some cooking oil (I used rice bran oil)
* You can replace the chillies with bell peppers/capsicum.

DIPPING SAUCE (MIX THESE IN A BOWL UNTIL THE SUGAR DISSOLVES)

·         1 Tbsp soy sauce
·         1 Tbsp water
·         1 Tbsp rice vinegar
·         2 tsp white sugar
* 1 Tbsp = 15 ml, 1 Cup = 250 ml

HOW TO MAKE KOREAN TUNA CAKES

1.Combine all the main ingredients (except for the panko if you’re using it, and the cooking oil) thoroughly in a mixing bowl. Divide the mixture into four sections to make 4 medium sized tuna cakes. (You can make smaller or bigger cakes per your preference. Just know that the larger the cake, the longer it takes to cook.) Make round shaped patties with each divided mixture.
2. (Optional) Coat each tuna cake with the panko.
3. Heat a non-stick frying pan (or well-seasoned cast iron skillet) over medium-high heat and add some cooking oil. (If you are using panko, add oil more generously.) Gently place the tuna cakes into the pan and cook both sides until browned, about 3 to 4 minutes each side. (Panko crumbed patties will take slightly longer to cook. For these, once both sides are golden brown, reduce the heat to medium-low and cook covered until the inside is cooked.)
4. Serve with the dipping sauce. (They taste best while still hot.)



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