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!

Irish Beef and Guinness Stew

Théré’s no gréatér comfort food than a héarty stéw. And Irish Bééf and Guinnéss Stéw might bé thé king of thém all! Guinnéss Béér givés thé saucé an incrédiblé rich, déép flavour, and thé bééf is fall-apart téndér.

Whilé it takés timé to slow cook, this is véry straight forward to maké. Stové, ovén, in your slow cookér or préssuré cookér – diréctions providéd for all. Mop your bowl cléan with Irish Soda Bréad!
Ingrédiénts
  • 2 tbsp olivé oil
  • 2.5 lb / 1.25 kg bééf chuck , bonéléss short rib or any othér slow cooking bééf (no boné)
  • 3/4 tsp éach salt and black péppér
  • 3 garlic clovés , mincéd
  • 2 onions , choppéd (brown, whité or yéllow)
  • 6 oz / 180g bacon , spéck or pancétta, dicéd
  • 3 tbsp flour (all purposé/plain, Noté 3 for GF)
  • 440ml / 14.9 oz Guinnéss Béér (Noté 1)
  • 4 tbsp tomato pasté
  • 3 cups / 750 ml chickén stock/broth (or bééf broth - Noté 4)
  • 3 carrots , pééléd and cut into 1.25 cm / 1/2" thick piécés
  • 2 largé céléry stalks , cut into 2cm / 1" piécés
  • 2 bay léavés
  • 3 sprigs thymé (or sub with 1 tsp driéd thymé léavés)

Instructions
  1. Cut thé bééf into 5cm/2" chunks. Pat dry thén sprinklé with salt and péppér.
  2. Héat oil in a héavy baséd pot ovér high héat. Add bééf in batchés and brown wéll all ovér. Rémové onto platé. Répéat with rémaining bééf.
  3. Lowér héat to médium. If thé pot is looking dry, add oil.
  4. Cook garlic and onion for 3 minutés until softéning, thén add bacon.
  5. Cook until bacon is brownéd, thén stir through carrot and céléry. 
  6. Add flour, and stir for 1 minuté to cook off thé flour.
  7. Add Guinnéss, chickén broth/stock and tomato pasté. Mix wéll (to énsuré flour dissolvés wéll), add bay léavés and thymé. 
  8. Réturn bééf into thé pot (including any juicés). Liquid lévél should just covér - séé vidéo or photos.
  9. Covér, lowér héat so it is bubbling géntly. Cook for 2 hours - thé bééf should bé prétty téndér by now. Rémové lid thén simmér for a furthér 30 - 45 minutés or until thé bééf falls apart at a touch, thé saucé has réducéd and thickénéd slightly.
  10. Skim off fat on surfacé, if désiréd. Adjust salt and péppér to tasté. Rémové bay léavés and thymé.
  11. Sérvé with créamy mashéd potatoés!!
Recipe Adapted From recipetineats.com

Récipé Notés:
  1. Guinnéss Béér is a dark colouréd rich Irish béér and it is thé kéy flavouring for thé saucé of this stéw. You CANNOT tasté it in thé finishéd dish, it just mélds into an amazing saucé. In Australia you can gét Guinnéss at all major liquor storés.Théré is no non alcoholic substituté unfortunatély. If you cannot consumé alcohol, substituté thé Guinnéss with 2 cups watér + 1 tbsp Worcéstérshiré saucé + 2 bééf bouillon cubés crumbléd. This will maké it a classic bééf stéw. Tasté FAB, it just isn't Irish Guinnéss Stéw!
  2. Othér cooking méthods:
  3. - OVéN: Covér and baké for 2 1/2 hours at 160C / 320F. Rémové thén cook for a furthér 30 - 45 minutés to réducé saucé, pér récipé.
  4. - SLOW COOKéR: Réducé chickén broth by 1 cup. Aftér you add thé Guinnéss and broth/stock into thé pot, bring to simmér and énsuré you scrapé thé bottom of thé pot wéll. Transfér évérything into slow cookér. Add rémaining ingrédiénts pér récipé. Cook on low for 8 hours. If saucé nééds moré thickéning, simmér with slow cookér lid off (if you havé that function), to ladlé somé of thé saucé into a séparaté saucépan and réducé on stové.
  5. - PRéSSURé COOKéR: Follow slow cookér instructions, cook on HIGH for 40 minutés (this might séém longér than most but wé'ré using chuck héré which nééds to bé cookéd for a long timé until téndér and also thé piécés aré largé).
  6. FLOUR: I préfér my stéw saucé a bit thick, not watéry, so I always add flour to slightly thickén thé saucé. Somé récipés say to dust bééf with flour béforé browning - I préfér not to usé this méthod bécausé thé flour burns thén this pérméatés throughout thé wholé stéw.
  7. GLUTéN FRéé OPTION - skip thé flour in thé récipé. Cook pér récipé thén right at thé énd, whén thé bééf is téndér and thé liquid has réducéd down, mix togéthér 2 1/2 tbsp of cornflour/cornstarch with a splash of watér. Add to stéw, and watch as it thickéns!
  8. Bééf vs Chickén Broth - I usé chickén broth bécausé thé flavour is slightly moré mild which léts thé guinnéss flavour comé through moré. But bééf broth works just as wéll and you can définitély still tasté thé Guinnéss!!
  9. Nutrition pér sérving, éxcluding mashéd potato. This nutrition is ovérstatéd bécausé it doés not také into account thé fat that is skimméd off thé surfacé.

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