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!

Cauliflower Cheese Chicken Fritters

Cauliflower Cheese Chicken Fritters
Everyone will love these Cauliflower Cheese Chicken Fritters. Not only do they make great party finger food they they are perfect for a mid-week family meal. Light, crispy, and packed with cauliflower, these are always demolished.
Cauliflower Cheese Chicken Fritters
Course Appetizer, Main
Cuisine Modern Australian
Prep Time 10 minutes
Cook Time 35 minutes
Total Time 45 minutes
Calories 445 kcal

  • 1 small whole cauliflower
  • 1 lb chicken mince
  • 2 garlic cloves
  • 1 egg
  • ¾ cup panko breadcrumbs
  • 1 cup shredded mozzarella
  • 1/2 cup grated cheddar/Monterey Jack
  • 1/2 cup grated parmesan
  • 1 tbsp chopped fresh parsley
  • 1 tsp salt
  • 1/4 tsp black pepper
  • olive oil for cooking
US Customary - Metric

  1. Preheat oven to 200ºC/390ºF.
  2. Bring a large pan of water to the boil (don't salt it)
  3. Cut the cauliflower into florets and cook until tender and soft.
  4. Drain and allow to cool slightly before chopping into small pieces.
  5. Add the remaining ingredients to the cooled chopped cauliflower.
  6. Mix well until combined and the cauliflower has broken down further.
  7. Use a 1/4 cup measure (or 3 tbsp) and divide the mixture into fritters. You should get 16 fritters out of the mixture.
  8. To cook on the hob and oven
  9. Place a large heavy based frying pan over a medium heat.
  10. Add a splash of oil and cook the fritters for a minute until golden, flip and cook on the other side.
  11. Remove the fritters to a lined baking sheet and cook the remaining mixture.
  12. Once they are all crisped baking for 15 minutes until cooked through.
  13. Alternatively you can cook them completely in the oven.
  14. Pre-heat the oven as above.
  15. Place the raw fritters on a lined baking sheet.
  16. Spray with oil and bake for 20-25 minutes turning once.
  17. To cook completely on the hob
  18. Place a large heavy based frying pan over a medium heat.
  19. Add a splash of oil and cook the fritters for 4 minute until golden, then flip and cook on the other side for a further 3/4 minutes.


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