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 Sauce for Fish




 A Lemon Butter Sauce with Crispy Pan Fried Fish that would be perfectly at home in a posh restaurant, yet is so quick to make at home! Browning the butter gives the sauce a rich, nutty aroma which pairs beautifully with fresh lemon, as well as thickening the sauce and giving it a gorgeous golden colour.

Ingredients

LEMON BUTTER SAUCE:
60 g / 4 tbsp unsalted butter , cut into pieces
1 tbsp fresh lemon juice
Salt and finely ground pepper

CRISPY PAN FRIED FISH:
2 x thin white fish fillets (120-150g / 4-5oz each), skinless boneless (I used Bream, Note 1)
Salt and pepper
2 tbsp white flour
2 tbsp oil (I use canola)

SERVING:
Lemon wedges
Finely chopped parsley, optional

Instructions

LEMON BUTTER SAUCE (SEE VIDEO):
Place the butter in a light coloured saucepan or small skillet over medium heat.
Melt butter then leave on the stove, whisking / stirring very now and then. When the butter turns golden brown and it smells nutty - about 3 minutes, remove from stove immediately and pour into small bowl. (Note 2)
Add lemon juice and a pinch of salt and pepper. Stir then taste when it has cooled slightly. Adjust lemon/salt to taste.
Set aside - it will stay pourable for 20 - 30 minutes. See Note 3 for storing.

CRISPY PAN FRIED FISH:
Pat fish dry using paper towels. Sprinkle with salt & pepper, then flour. Use fingers to spread flour. Turn and repeat. Shake excess flour off well, slapping between hands if necessary.
Heat oil in a non stick skillet over high heat. When the oil is shimmering and there are faint wisps of smoke, add fish. Cook for 1 1/2 minutes until golden and crispy on the edges, then turn and cook the other side for 1 1/2 minutes (cook longer if you have thicker fillets).
Remove immediately onto serving plates. Drizzle each with about 1 tbsp of Sauce (avoid dark specks settled at the bottom of the bowl), garnish with parsley and serve with lemon on the side. Pictured in post with Kale and Quinoa Salad.

Recipe Notes:
1. I like using this sauce for thin fillets because I find you get the best sauce to flesh coverage, and also because thin fillets tend to mean less fish (the sea bream in the photos are only around 120g/4oz each) so you're not having to pour over loads of Sauce (it is quite rich). I also love how the edges of thin fish fillets go nice and crispy!
Having said that though, this sauce is suitable for almost any white fish fillet, but I'd avoid rich, oily fish like salmon and mackerel.
FROZEN FISH is also fine - thaw thoroughly and pat very well with paper towels to remove excess water.
2. BROWNING BUTTER: At first, it will spit a bit (water in butter cooking out), then it will bubble, then it will foam. Little brown bits will start appearing on the base of the pan - THEN you will smell the nuttiness. Smell is the most important sign - when it smells amazing, take it right off!
3. Storing Brown Butter: You'll only need around 1 tbsp of Sauce per serving - it's very rich - but this recipe makes slightly more because it's hard to make a smaller quantity. Use leftovers to jazz up vegetables, mashed potato, or even spread on toast! Refrigerate and use within 1 week, or freeze. To use as Sauce, microwave in 10 second increments.
4. GENERAL NOTE: If you're an experienced cook, you can try your hand at making the sauce in the pan after cooking the fish. First wipe it clean (yes you lose pan flavour, but it's nice to have a "clean" looking sauce), lower heat then make the sauce once the pan has cooled. I personally find it easier to make the Sauce first in a smaller pan - easier to control colour change. Also I like using my black non stick pan for the fish and you can't see the colour of the butter in dark coloured pans.
5. Nutrition per serving, assuming 1 tbsp of Sauce (it's a rich sauce, you don't need much) and assuming 1/2 tbsp of oil is discarded after cooking the fish (my estimation by scraping out remaining oil). The fish weight seems small but it looks larger on the plate because I used a thin fillet (bream). 

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