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!

TERIYAKI CHICKEN TACOS WITH GRILLED PINEAPPLE PEAR SALSA

These Teriyaki Chicken Tacos are savory, sweet, spicy, tangy and everything in between to become your new favorite tacos.  They epitomize this upcoming season’s Grilling Flavor Forecast of East meets Grill that’s going to be firing up everyone’s grill this summer. 

 If you aren’t familiar with the Grilling Flavor Forecast, it identifies the top trends and flavors for the year ahead and this summer is all about discovering and savoring new tropical Asian flavors as well as versatile spice blends with good-for-you ingredients and experiencing spicy with tangy (my forever fav!).  You can explore these tastes of tomorrow today at FlavorForecast.com and kick off the deliciousness with these Teriyaki Chicken Tacos with Grilled Pineapple Pear Salsa!
INGREDIENTS
  • 1 McCormick® Grill Mates® 7 Spice Teriyaki Single Use Marinade
  • 1 1/2 pounds boneless skinless chicken breasts
  • 4-6 flour tortillas taco-sized
  • 2 cups shredded Montery Jack Cheese
  • 1 1/4 cups cooked rice
  • 1 Recipe Grilled Pineapple Pear Salsa
  • Pineapple Lime Crema
  • 5.3 oz pineapple yogurt
  • 2 tablespoons mayonnaise
  • 1/2 tablespoon lime juice (or more to taste)

INSTRUCTIONS
  1. Chicken Marinade: Reserve 1/4 cup Teriyaki Marinade for after grilling. Pound chicken to an even thickness and poke several times on each side with a fork. Add chicken to a large freezer bag or shallow dish and add remaining Teriyaki Marinade; toss to evenly coat chicken. Marinate 30 minutes at room temperature or up to overnight in the refrigerator.
  2. Grilled Pineapple Pear Salsa: Meanwhile prepare Salsa according to directions. Store in the refrigerator until ready to use.
  3. Pineapple Lime Crema: Meanwhile, whisk all of the Pineapple Lime Crema ingredients together in a small bowl. Store in the refrigerator until ready to use.
  4. Chicken Grilling Directions: If chicken has been refrigerated, let sit at room temperature for 15-30 minutes (time permitting). Meanwhile, grease and preheat grill to medium heat, 375-450°F.
  5. Grill chicken undisturbed for for 6-7 minutes per side, or until chicken is cooked through. (An inserted thermometer should read 155 degrees F.) Remove chicken from grill and let rest 5 minutes before slicing into thin strips.
  6. Chicken Stovetop Directions: If chicken has been refrigerated, let sit at room temperature for 15-30 minutes (time permitting).
  7. Heat a large non-stick skillet over medium high heat. Once very hot, add chicken and cook, undisturbed for 3-5 minutes, or until nicely browned (or blackened if you prefer) on one side. Turn chicken over, cover, and reduce heat to medium. Cook for approximately 5-7 more minutes (depending on thickness of chicken), or until chicken is cooked through.
  8. Remove chicken and let rest 5 minutes before slicing into thin strips.
  9. Assemble: Toss chicken strips in reserved 1/4 cup Teriyaki Sauce until evenly coated. Divide rice evenly among tortillas followed by cheese. Melt cheese on rice in the microwave or stovetop then top with Teriyaki Chicken followed by Grilled Pineapple Pear Salsa. Drizzle with Pineapple Lime Crema.

RECIPE NOTES
Total Prep time does not include marinating the chicken as this will vary upon individual but does include preparing the salsa and tacos.
Total cooking time includes grilling the Salsa and Chicken separately and will require less time if your grill is large enough to grill everything at once.

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