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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!

Lemon Butter Chicken Recipe

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This savory Lemon Butter Chicken is just over the top! Full of flavor, every bite is unforgettable. The lemon cream sauce mixed with fresh garlic and Parmesan cheese pairs perfectly with the tender and juicy chicken. So savory…this dish will leave you coming back for more!


The ingredients in this dish because we all need a little bit of easy and simple. Chicken breasts, fresh garlic, fresh spinach, paprika, lemon, fresh cracked pepper and heavy cream. Easy! Oh and in the ingredients you will see a splash of white wine…this is totally optional. You don’t have to add the wine…I promise it still tastes fantastic without it so leave it out if you want! Totally fine!



LEMON BUTTER CHICKEN RECIPE
A delicious Lemon Butter Chicken. Seasoned chicken in a creamy lemon butter sauce that is sure to delight.



Ingredients

  • 4 Boneless Skinless Chicken Breasts (cut in half)
  • 1/2 Tablespoon paprika
  • 3 Tablespoons butter, divided
  • 4 garlic cloves
  • 1 cup chicken broth
  • 1/2 cup heavy cream
  • 1/4 cup freshly grated Parmesan cheese
  • Juice of 1 lemon
  • Splash of dry white wine (optional)
  • 1/2 teaspoon dried thyme
  • 2 cups baby spinach
  • Dash salt and fresh cracked pepper to taste

Instructions

  1. Preheat oven to 400 degrees F.
  2. Season the chicken with salt, pepper and paprika. Set aside.
  3. Melt 2 Tablespoons of butter in a large oven-proof skillet (a Le Creuset Dutch Oven works well or a RockCrok or cast iron skillet) over medium high heat.
  4. Add the chicken and sear both sides until golden brown, about 2-3 minutes per side. Remove and set chicken aside on separate plate.
  5. While the chicken is resting, return back to the same skillet and melt remaining tablespoon of butter in the skillet. Add garlic and cook stirring frequently about 1 minute.
  6. Stir in chicken broth, splash of dry white wine, lemon juice and thyme.
  7. Bring to a boil and reduce heat and let the sauce reduce and thicken.
  8. Continue to cook the sauce about 5-7 minutes so the sauce becomes thicker. You don't want the sauce to become too runny!
  9. Add the heavy cream, Parmesan cheese, turn temperature down and cook for a minute or two.
  10. Add in the spinach and simmer until the spinach has wilted and the sauce has slightly thickened.
  11. Once your sauce is to the desired thickness, return the chicken to the skillet.
  12. Place in the oven and cook for about 15-20 minutes until internal temperature of the chicken reaches 165 degrees.
  13. Remove the dish and let sit for about 5 minutes before serving.

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