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!

Beef & Ale Casserole with Horseradish & Stilton Dumplings


Beef & Ale Casserole with Horseradish & Stilton Dumplings
An extremely simple to make beef and ale casserole which is full of flavour!  The dumplings make this dish unique... this is a must try! 


Serves 4
Preparation time:  15 minutes
Cooking time:  2 hours 15 minutes

Ingredients

For the casserole:
2 tbsp vegetable oil
2 large onions, thickly sliced
750g braising steak, cut into 2-3cm cubes
3 tbsp plain flour
Freshly ground pepper & salt
2 large carrots, peeled & sliced
2 tbsp demerara sugar
2 tbsp balsamic vinegar
2 tbsp Worcestershire sauce
2 tbsp tomato puree
550ml bottle of Newcastle Brown Ale

For the Dumplings:
200g self-raising flour
100g vegetable or beef suet
½ tsp salt
75g Stilton, crumbled
1 tbsp finely chopped parsley
1 tbsp hot horseradish (from a jar)
150ml water

To serve:
2 tbsp chopped fresh parsley
Steamed green vegetables




Preparation method

1.  Preheat the oven to 160°C/Gas Mark 3.

2.  Heat the oil in a large casserole and add the onions, cook until they start to colour.  

3.  In a large bowl toss the beef in the flour and season well.  Add to the casserole (there is no need to brown the meat).  Now add all the remaining casserole ingredients and bring to the boil.  Cover with a lid and place in the oven for 1 ½ hours.

4.  In the meantime, make the dumplings.  In a large bowl, mix together the flour, suet and salt using your fingertips to break up the suet.  Now add the Stilton and the parsley.

5.  Combine the horseradish and the water together then place in the bowl.  Bring the mixture together with your hands until you have a dough consistency.  Then, using your hands roll the dough into 8-10 balls and set aside and cover.

6.  When the beef is soft and tender, season to taste.  Now drop the dumplings on top, cover with the lid and return to the oven for 30 minutes.

7.  Now that the dumplings have puffed up, remove the lid and raise the temperature to 180°C/Gas Mark 4.  Cook until the dumplings have developed a crust.  Scatter with parsley and serve on warm plates with steamed green vegetable, enjoy!

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