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!

Easy Soft Flatbread (No Yeast)

An easy, soft flatbread recipe that’s made without yeast. You’ll love how soft and pliable it is, making it perfect to use as wraps for Souvlaki or Gyros, or as naan to dunk into Tikka Masala or Butter Chicken. The possibilities are endless!
The dough for this recipe is ridiculously easy to make with only a minute or two of kneading. The bread is soft and pliable so it's perfect for using as a wrap, stuffed with whatever takes your fancy. It's also a great make ahead recipe - the dough keeps for around 3 days. See NOTES for substitutions, including using GLUTEN FREE flour. 30 minute resting time.

Ingredients
  • 2 cups / 300g plain flour (all purpose flour) (level cups, unsifted, not packed), + keep 1/4 cup extra for dusting & adjusting dough
  • 1/2 tsp salt
  • 3 1/2 tbsp / 50g butter (1.75 oz)
  • 3/4 cup / 185 ml milk
  • 1/2 tbsp oil (for cooking)

Instructions
  1. Combine butter and milk and heat until butter is just melted - on stove or in microwave.
  2. Combine 2 cups flour, salt, butter and milk.
  3. Sprinkle work surface with flour then knead for a few minutes until it is smooth - it doesn't need much kneading. Add extra flour if the dough is too sticky.
  4. Wrap with cling wrap and rest at room temperature for 30 minutes or so.
  5. Dust bench top with flour, cut dough into 4 pieces, roll into balls, then roll out into about 1/8" / 0.3cm thick rounds.
  6. Heat 1/2 tbsp olive oil in a non stick pan over medium heat - or lower if you have a heavy based skillet. (Note 1)
  7. Place one flatbread in the pan, cook for around 1- 1 1/2 minutes - it should bubble up (see photo in post)- then flip and cook the other side, pressing down if it puffs up. There should be a smallish golden brown spots on both sides.
  8. Stack the cooked bread and keep wrapped with a tea towel - the moisture helps soften the surface, making them even more pliable.
  9. Continue to cook with remaining pieces.
  10. Optional: Brush or spray bread with olive oil or melted butter, for a more luxurious finish. Or even with melted butter mixed with minced garlic for a garlic butter version!
Recipe Notes
1. Higher heat and the thinner the dough = crispier crust, though still pliable inside, the thin crispy crust on the outside might crack when you roll it. This is how I make naan. The larger darker brown spots on the bread (see image in post) make it look like authentic naan, just like what you get at Indian restaurants!

2. STORING: Dough keeps in the refrigerator for around 3 days. Tip: Roll out the rounds, ready to cook. Just make sure you use baking paper or cling wrap to keep the pieces separated, flour will not suffice.
Cooked breads keep really well in the freezer!

3. Works great with WHOLE WHEAT flour, does not work with almond flour. See note 4 for Gluten Free.

4. Dairy free / vegan substitutions: A reader tried the original recipe then reported back that it also worked just as great substituting the butter with olive oil and almond milk for the dairy milk to make it a vegan / dairy free version. Brilliant! Another reader has also made this with coconut oil and reported it works great.

5. This works pretty well with Gluten Free flour. You may need a bit of extra flour to roll it out - just add more as required. The texture is a bit different - a bit chewy, and you may not be able to roll them out into neat rounds like pictured. 

6. Use this for: Gyros, Souvlaki, as naan for curries like Butter Chicken, Chickpea Curry or Beef Rendang.

7. Recipe source: Flatbread by Julie Goodwin.

8. UPDATE: Recipe quantity halved following reader feedback and because I find myself making half batches more often too!

9. Nutrition per flatbread.

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