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!

Chicken-Fried Chicken With Cream Gravy Recipe

These days, chicken-fried steak and chicken-fried chicken have spread far beyond the boundaries of Texas, and you'll see the latter on menus as either "chicken-fried chicken" or "country-fried chicken." The gravy is also served under a range of monikers. Cream gravy. White gravy. Sawmill gravy. Country gravy. Whatever you want to call it, this is stick-to-your-ribs country cooking at its finest and most comforting.

Ingredients
For the Chicken:
  • 2 tablespoons paprika
  • 2 tablespoons freshly ground black pepper
  • 2 teaspoons garlic powder
  • 2 teaspoons dried oregano
  • 1/2 teaspoon cayenne pepper
  • 4 boneless, skinless chicken thighs (about 4 ounces each), or 2 boneless, skinless chicken breasts (about 8 ounces each), cut and pounded into 4 cutlets (see note)
  • 1 cup buttermilk
  • 1 large egg
  • 1 tablespoon plus 2 teaspoons kosher salt, divided
  • 1 1/2 cups all-purpose flour
  • 1/2 cup cornstarch
  • 1 teaspoon baking powder
  • 4 cups vegetable shortening or peanut oil, for frying
  • For the Cream Gravy:
  • 2 tablespoons unsalted butter
  • 1 small onion, finely chopped (about 3/4 cup)
  • 2 medium cloves garlic, minced (about 2 teaspoons)
  • 2 tablespoons all-purpose flour
  • 1 cup whole milk
  • 3/4 cup heavy cream
  • Kosher salt and freshly ground black pepper

Directions
For the Chicken: Combine the paprika, black pepper, garlic powder, oregano, and cayenne pepper in a small bowl and mix thoroughly with a fork.

One at a time, sandwich each piece of chicken between two pieces of plastic wrap or inside an opened zipper-lock bag and pound with a meat pounder or the bottom of a heavy skillet until approximately 1/4 inch thick.

Whisk the buttermilk, egg, 1 tablespoon salt, and 2 tablespoons of the spice mixture in a large bowl. Add the chicken and turn to coat. Transfer the contents of the bowl to a gallon-sized zipper-lock freezer bag and refrigerate for at least 4 hours and up to overnight, flipping the bag occasionally to redistribute the contents and coat the chicken evenly.

For the Gravy: When ready to fry the chicken, make the gravy: Heat the butter in a 10-inch heavy-bottomed nonstick skillet over medium-high until foamy. Add the onion and cook until softened, about 4 minutes (lower the heat if the butter starts to brown). Add the garlic and cook, stirring, until fragrant, about 30 seconds. Add the flour and cook, stirring constantly, until fully absorbed, about 1 minute. Add the milk in a thin stream, whisking constantly. Add the cream, whisking, and bring to a simmer, whisking constantly. Simmer, whisking, until thickened, about 3 minutes. Season to taste with salt and plenty of pepper. Keep warm while you fry the chicken.

Whisk together the flour, cornstarch, baking powder, 2 teaspoons salt, and the remaining spice mixture in a large bowl. Add 3 tablespoons of the marinade from the zipper-lock bag and work it into the flour with your fingertips. Remove the chicken from the bag, allowing the excess buttermilk to drip off. Drop the chicken into the flour mixture and toss and flip until thoroughly coated, pressing with your hand to get the flour to adhere in a thick layer. Shake the chicken over the bowl to remove excess flour, then transfer to a large plate.


Adjust an oven rack to the middle position and preheat the oven to 175°F. Heat the shortening or oil to 425°F in a wok or 12-inch cast iron skillet over medium-high heat, about 6 minutes. Adjust the heat as necessary to maintain the temperature, being careful not to let the fat get any hotter.

Carefully lower 2 pieces of chicken into the pan. Adjust the heat to maintain the temperature at 325°F for the duration of cooking. Fry the chicken pieces without moving them for 2 minutes. Carefully agitate the chicken with a wire-mesh spider or tongs, making sure not to knock off any breading, and cook until the bottom is a deep golden brown, about 3 minutes. Carefully flip the chicken and continue to cook until the second side is golden brown, about 2 minutes longer.

Transfer the chicken to a paper towel–lined plate to drain for 30 seconds, flipping once, then transfer to a wire rack set on a rimmed baking sheet and transfer to the oven to keep warm. Repeat with the remaining 2 pieces of chicken. Serve with the cream gravy.

Recipe Source:seriouseats.com

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