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!

Whole Roasted Salmon in Paper on the BBQ

The main dish for my Seafood OMS friendly Christmas menu is a Jamie Oliver recipe that my husband cooks often.  I love it because it's salmon, has a lovely smoky flavour and my husband does the cooking.



Ingredients:
A fresh whole salmon, scaled and gutted.  The one we usually buy is about 2kg/4.5lb
3-4 handfuls of fresh mixed herbs - I used parsley, basil and chives this time.  Jamie also recommends fennel tops.
2 lemons, finely sliced into rounds
3-6 green onions sliced (depends on your tastes)
4 teaspoons of fennel seeds, cracked
EVOO (extra-virgin olive oil)
Salt & pepper to taste

Method:

Rinse the salmon and pat dry.  Season the fish inside and out, rub a little EVOO (optional) and stuff half the herbs inside the cavity.


Now Jamie cooks this fish in newspaper, which when cooked on the BBQ gives the fish a smoky flavour.  I'm not entirely sure I want to eat fish that has been cooked with the ink from the newspaper, so I use about 20 sheets of white butcher's paper that I get from the fishmonger when I buy  the fish.

Place the salmon in the centre of the paper, scatter over the lemons, green onions, fennel seeds and remaining herbs - also put some underneath the salmon.  Drizzle with a little extra EVOO (optional).  Wet the paper with a little water.

Now you need to wrap the fish in the paper.  Tuck each of the sides in and fold the paper over.  There's no real method.  You just want to wrap the whole fish quite tightly.  Using kitchen string, wrap the string around the fish's head and tie in a knot.  If you know how to do the whole cheffy knot-tying style, then do that, otherwise my husband just wraps the string around the fish and secures it.

To stop the paper catching fire, you need to wet it really well.  Place the fish under a running tap and wet the paper & string thoroughly.

Cook the salmon in a pre-heated BBQ or oven at 220C/425F for about 35 minutes, depending on the size of your fish and how well-done you like your salmon.  Our BBQ has a lid on it, so we can control the temperature.  If you are cooking it on an open BBQ, Jamie recommends 25 minutes each side.
 Note - Jamie uses a 1.5kg fish for these times.  We use a 2kg fish and cook for an extra 5 minutes.

To serve, cut the paper open and watch all the steam escape.  We then place the fish on a platter and serve portions at the table.

For a winter menu - serve with roasted vegetables and green beans and broccolini drizzled with a little EVOO, lemon juice and toasted flaked almonds.

For a summer menu - serve with boiled baby potatoes dressed with herbs and a little EVOO (serve hot or cold), and your favourite green salad.  I often use a mango and avocado salad with this fish.

If you don't want to use paper, wrap the fish in double-thickness tin foil and a sheet of baking paper and roast.  You can also use fish fillets instead of whole fish.  Just reduce the cooking time.

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