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!

roasted beef tenderloin with french onion au jus.

roasted beef tenderloin with french onion au jus.
I have a love hate relationship with this Roasted Beef Tenderloin with French Onion Au Jus.
THE RECIPE
roasted beef tenderloin with french onion au jus
by halfbakedharvest
COURSE: main course
CUISINE: american
KEYWORD: roast beef, roast dinner
Savory, decadent, buttery, and so full of flavor...perfect for a very special night.
prep time 15 minutes
cook time 1 hour
total time 1 hour 15 minutes
servings 6 servings
calories 951 kcal

INGREDIENTS
  • 1 (4-5 pound) whole beef tenderloin
  • 2 cloves garlic, minced or grated
  • 2 tablespoons chopped fresh thyme
  • 1/4 cup peppercorns crushed, or fresh black pepper (I use pink peppercorns)
  • kosher salt
  • 2 tablespoons butter
FRENCH ONION AU JUS
  • 4 large sweet onions, thinly sliced
  • 6 tablespoons butter
  • 1 1/2 cups red wine
  • 1 cup low sodium beef broth
  • 1 tablespoon worchestire sauce
  • 4 sprigs fresh thyme
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INSTRUCTIONS
  1. Remove the meat from the fridge 1-2 hours before roasting. Preheat the oven to 475 degrees F.
  2. Rub the beef with garlic, thyme, and season generously with peppercorns and salt. At this point, the meat can be stored in the fridge up to overnight. Bring the meat to room temperature before cooking. 
  3. Arrange the onions in a large, oven safe skillet. Place the beef over the the onions. Add 2 tablespoons butter to the top of the beef. Transfer to the oven and roast until the beef registers 120 to 125 degrees F for medium-rare, for rare about 35-45 minutes, depending on the size of your roast. It's best to use a meat thermometer.
  4. Remove the beef from the skillet to a serving plate and cover with foil. Let rest 10 minutes before slicing.
  5. Meanwhile, set the skillet with the onions over medium heat. Add 6 tablespoons butter and cook, stirring frequently, until the onions are deep golden in color and caramelized, 5-10 minutes. Add the wine, beef broth, Worcestershire sauce, and thyme. Increase the heat to medium-high and bring to a simmer. Remove the thyme sprigs. Season to taste with salt and pepper.
  6. Slice the beef and serve with the French Onion Au Jus. 

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