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!

Grilled Pork and Peaches

Here is a simple dinner you could cook on a pancake griddle set on the grate above a fire pit or grill in someone’s backyard, as if performing a magic trick. The result is a plate of thick, luscious pork with a deep, burnished crust, redolent of garlic and rosemary, and a sunset of soft, smoky peaches nutty with brown butter. 

The technique is what Francis Mallmann, the Latin American chef who developed the recipe and is its most refined and stylish practitioner, calls “the uncertain edge of burnt.” It requires patience and keen observation. What you are looking for on the edges of the meat and fruit is color: a deep, dark brown that is almost black — a black without bitter, a burn that is not burned.


INGREDIENTS
  •  Boneless pork butt, approximately 2 pounds, butterflied and trimmed
  • 8 to 10  cloves garlic, peeled and minced
  • 2  tablespoons minced fresh rosemary needles
  • 8  tablespoons extra virgin olive oil
  •  Kosher salt and freshly ground black pepper to taste
  • 6  fresh peaches, skin on, cut in half and pitted
  • 4  tablespoons unsalted butter, cut into dice

PREPARATION
  1. Light a fire in a fire pit with a grill, or in a charcoal grill, or set a gas grill to high. If you have a very strong vent in your kitchen, you may use your stove with a burner set to high. Place a large cast-iron pan or two-burner griddle over the heat and allow it to get hot. At this point you can let the fire die slightly with no ill effect. If using a gas grill or stove, turn heat to medium.
  2. Meanwhile, put the pork on a work surface and, using a meat mallet, pound to an even thickness of approximately 3/4 of an inch.
  3. Combine the garlic, rosemary and 6 tablespoons olive oil in a small bowl, mixing to make a rough paste. Season the pork aggressively on both sides with salt and pepper, then spread half the garlic mixture over one side and half on the other side.
  4. Brush the pan or griddle with the remaining olive oil, allow it to heat until it shimmers and is almost smoking, then place meat on the hot surface and cook, without touching, until it forms a good crust, approximately 10 minutes.
  5. While the meat cooks, surround it with the peaches, cut side down, and dot the fruit with the butter. (If you’re using two cast-iron skillets, place the peaches in their own oiled pan.) Let them cook for approximately 5 minutes, or until they are soft and slightly charred. Transfer to a platter and tent with foil to keep warm.
  6. When the meat is well browned on the first side, use tongs to turn it over, and cook in the remaining butter for another 5 to 7 minutes. Remove the meat to a carving board and allow it to rest below a tent of foil for approximately 5 minutes. Slice the meat and serve with the peaches.
Recipe Adapted From cooking.nytimes.com

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