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!

Korean Fish Cake Soup

Learn how to make popular Korean fish cake soup at home. It’s refreshing, tasty and so comforting!



As the weather gets colder, soup gains popularity as a side meal. This Korean fish cake soup (Eomuk-guk, 어묵국 or Odeng-guk, 오뎅국) is a perfect Korean comfort food.

It is quite easy to make and also all the ingredients used are quite affordable. Maybe that’s why it is also a popular drink snack to accompany soju (소주) – a Korean distilled alcoholic drink.


INGREDIENTS FOR KOREAN FISH CAKE SOUP (SERVES 2)


MAIN

·         200g (7 ounces) Korean fish cakes (4 rectangle fish cake sheets) or homemade fish cakes
·         30g (1 ounce) green onion, thinly sliced
·         1 Tbsp soy sauce
·         1 Tbsp rice wine
·         1 tsp minced garlic
·         A few cracks of ground black pepper
·         (Optional) fine sea salt to taste – I didn’t use any.

BROTH

·         6 cups water
·         10g (0.4 ounces) dried kelp
·         30g (1 ounce) dried anchovy, head and black innards removed
·         100g (3.5 ounces) white radish/Korean radish/daikon radish, thinly sliced
* 1 Tbsp = 15ml, 1 Cup = 250ml

HOW TO MAKE KOREAN FISH CAKE SOUP

BROTH

1.Put the water (6 cups) in a medium/large pot and add the dried kelp and anchovies. (If you can use a large tea infuser, it will be a much neater process later!) Boil it for 10 mins uncovered on medium heat.
2. Take out (& discard) the kelp and add the radish slices. Boil the radish and anchovy for a further 10 mins.
3. Take out and set aside the radish. Sieve through the boiled stock over damp cheese/linen cloth to remove small particles from the kelp and anchovies. (If you don’t mind these particles floating in your soup, you can skip sieving and just remove the anchovies from the broth. But I recommend sieving!)
MAIN
4.(This step should start co-currently as step 1 or step 2 to save your time.) Run some hot water onto the fish cake sheets to remove the excess oil coating. (Store bought fish cakes are deep fried!)
Slice the fish cakes into small rectangle size. Or slice them in long strips and stick through with some wooden skewers for a fancier look. (I made 6 skewers and each stick has 2 long strips of fish cakes on it.)
5. Boil the broth and radish (from step 3) on medium high heat and add the soy sauce, rice wine and garlic. Stir briefly. Once boiled, reduce the heat to medium. Add the fish cakes into the soup then boil until they are soft and the flavour from the soup has soaked up (about 3 to 5 mins).
Depending on your size of pot, you may want to splash some soup over the fish cakes with your ladle to deepen the flavour. (Add some salt to taste if you require, but I didn’t add any.) Sprinkle a few cracks of ground black pepper and green onions just before serving.
6. Serve hot (with freshly cooked steamed rice and side dishes).

NOTE :
·         If you can only find dried kelp or dried anchovy but not both, supplement that portion by using the other available ingredients. You may need to season with salt at the end.
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