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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 PAD THAI

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This chicken pad thai is a combination of diced cooked chicken, scrambled eggs, rice noodles, veggies and herbs, all tossed in a sweet and savory sauce.
I was able to find rice noodles in the ethnic section of my grocery store, and they were actually labeled as pad thai noodles.

I typically use boneless skinless chicken breasts that are cut up into small pieces and sautéed, but in a pinch you could also use shredded rotisserie chicken.
The sauce is mostly comprised of ingredients that you probably already have in your pantry, with the exception of the fish sauce.

Fish sauce is located in the ethnic foods aisle of most grocery stores and is really crucial to making this pad thai taste authentic!
I kept this pad thai pretty basic because that’s the way my favorite restaurant makes it, but you could easily substitute shrimp for the chicken or add in more veggies like broccoli, mushrooms and peppers.
INGREDIENTS:
  • 1 lb boneless skinless chicken breasts cut into 1/2 inch pieces
  • 1 tablespoon vegetable oil
  • 1 teaspoon minced garlic
  • salt and pepper to taste
  • 2 eggs
  • 8 ounces rice noodles
  • 1 cup bean sprouts
  • 1/4 cup green onions cut into 1 inch pieces
  • 1/4 cup cilantro leaves
  • 1/4 cup roasted salted peanuts chopped
  • 4 lime wedges

FOR THE SAUCE:
  • 1/4 cup ketchup
  • 2 tablespoons fish sauce
  • 2 tablespoons brown sugar
  • 2 teaspoons soy sauce
  • 1 teaspoon rice vinegar



DIRECTIONS:
  1. In a medium bowl, whisk together the ketchup, fish sauce, brown sugar, soy sauce and rice vinegar. Set aside.
  2. Heat the oil in a large pan over medium high heat. Add the chicken to the pan and season with salt and pepper to taste. Cook for 5-6 minutes, stirring occasionally, until chicken is browned and cooked through.
  3. Add the garlic to the pan and cook for 30 seconds.
  4. Move the chicken mixture to one side of the pan and add the eggs to the empty side of the pan. Stir the eggs until scrambled and cooked through, approximately 3 minutes.
  5. While the chicken and egg mixture is cooking, prepare rice noodles according to package directions.
  6. Add the rice noodles and sauce to the pan, toss to coat evenly.
  7. Stir in the green onions and bean sprouts.
  8. Sprinkle the peanuts and cilantro over the noodle mixture. Serve, garnished with lime wedges.
More Delicious Recipe 

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