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!

JAGERSCHNITZEL

Jagerschnitzel! Most of you will have eaten the traditional German Schnitzel before. Well, this is one regional variation of the famous Schnitzel.

This recipe has been kindly shared by one of our Lovefoodies supporters, Cindy Reams. Cindy tells me when her and her husband were stationed out in Densborn,  Germany some years ago, they became friends with a lovely German girl called Stephanie. It was Stephanie who taught Cindy how her family makes this Jagerschnitzel.

Unlike the more common schnitzel, Jagerschnitzel is traditionally coated in flour (and not breadcrumbs), pan-fried in butter and served with a mushroom or tomato gravy. Since Stephanie showed Cindy how to make this dish, it’s been a family favourite, especially with her children, all these years.

Now Cindy’s girls have grown up, they are also making it themselves!

For this recipe, the mushroom sauce was originally made from scratch, but Cindy simplified it to fit in with her family life. It’s a very quick and simple recipe so please do enjoy! On a side note, you can also use this same recipe for chicken breast instead of pork. Simply do the same instructions below!
Ingredients
The Schnitzel:
  • 4 inch x 1 thick pork loin roast slices or chicken breast
  • 1/2 Cup flour
  • 2 eggs
  • Salt and pepper
  • oil and butter.

The Gravy:
  • 2 brown gravy mixes
  • 1 1/2 lbs fresh sliced mushrooms
  • 2 Tablespoons butter


Instructions
  1. Mix gravy mixes according to package directions. In a pan, brown the mushrooms in butter. Add the gravy and keep warm.
  2. Slice the pork loin into 1" thick slices. Pound between plastic wrap to thin out meat.
  3. Dip the pork slices in egg, then dip into flour (You can season the flour with salt and pepper if you wish).
  4. Heat a skillet pan with a mixture of oil and butter. Approximately 2 tablespoons of each. You may need more or less, depending on how big your schnitzels are. When the pan is hot, add the pork and brown on both sides until cooked through. ** You may have to do this in batches if you have a lot of pork. If so, pop the cooked pieces in the oven on a low setting to keep warm whilst you cook the remainder.
  5. Serve over pasta, mashed potatoes or what ever your family enjoys!
More Deliciouse recipesJAGERSCHNITZEL@lovefoodies.com

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