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!

Crab Tart with Leeks & Gruyere Cheese

Crab Tart with Leeks & Gruyere Cheese
This absolutely delicious tart can be served as a main or as a brilliant starter.  This is perfect for entertaining and can be made in advance!
Serves 6

Prep time: 15 minutes
Cooking time:  1 hour 5 minutes

Ingredients
1 x 375g pre-rolled short crust pastry
2 eggs
3 egg yolks
150ml double cream
2 tbsp olive oil
2 leeks, finely sliced
4 spring onions, finely sliced
½ tsp cayenne pepper
200g white crabmeat
100g brown crabmeat
80g gruyere cheese
Sea salt & Freshly ground pepper


Preparation method

1.  Roll out the pastry on a lightly floured surface to a large round, enough to line a 20cm round shallow tart tin, with removable base, leaving some excess pastry over hanging the rim. 

2.  Preheat the oven to 180°C/Gas mark 4.  Line the pastry with baking paper and baking beans and blind bake for 15-20 minutes until the sides are set and lightly golden.  Remove the paper and the beans, brush the pastry with 1 beaten egg yolk.  Place in the oven for a further 5-10 minutes.  Remove from the oven, whilst warm, cut off the excess pastry to level the rim of the tin, allow to cool.

3.  Meanwhile, whisk the eggs, egg yolks and cream together.

4.  In a large frying pan heat the olive oil and gently fry the leeks and spring onions until softened.  Season with salt, pepper and cayenne pepper, set aside to cool.

5.  Place the leek mix into the egg mix with the crab and cheese, mix well and pour into the cooled tart case.  Place the tart onto a baking sheet and place into the oven for 45 minutes or until the filling is firm.  Serve with salad, Panzanella Salad goes perfectly (click here for the recipe).  Enjoy!

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