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!

Salt Baked Chicken , A Hakka Favourite


Salt Baked Chicken is a signature Hakka (客家) dish, and this is the real deal, true blue version of the recipe–but more on that later. As for the origin of salt baked chicken, there are a few folk tales out there that people will tell you, but I like this one the best .


Ingredients

·         A whole chicken, approximately 3 pounds
·         2 tablespoons Shaoxing wine
·         1½ tablespoons sand ginger powder
·         ½ teaspoon ground white pepper
·         2 teaspoons, plus 3 pounds coarse sea salt (yes, you read that right)
·         4 slices ginger
·         1 tablespoon oil

Instructions

1.    Rinse the chicken under cold running water. Shake off the excess water and pat the chicken dry with paper towels or a clean dish cloth.

2.    Brush the Shaoxing wine all over the chicken, including the cavity. Next, combine the sand ginger powder, ground white pepper, and 2 teaspoons salt. Rub the mixture all over the chicken, including the cavity.

3.    Now set the chicken on a wire rack, and place it over a tray to catch any drippings. It’s best if you can sit the chicken upright so the liquid in its cavity can drip out. You can use a drinking glass to prop it up. Leave the chicken uncovered and let marinate overnight in the refrigerator. The objective is to dry out the chicken skin.

4.    The next day, take the chicken out of the refrigerator for at least one to two hours before cooking, so the chicken can come up to room temperature. Insert the ginger slices into the cavity and brush the chicken skin with oil. Next, tie up the drumsticks with kitchen twine. Finally, wrap the chicken with a large piece of parchment paper, then wrap it again with a second piece of parchment with the opening on the breast side. Set the chicken aside.

5.    Now “stir-fry” the rest of the salt in a clean dry wok for about 15 minutes, using medium heat until the salt turns light brown. The salt gets very hot, so be careful not to burn yourself or stir too vigorously. Next, fill a wok or Dutch oven with about a ½-inch of hot salt spread evenly across the bottom. Position the chicken with the breast side up in the center of the pot. Next, add the rest of the hot salt onto the chicken to make sure it’s completely covered. Top your vessel of choice with the lid, and cook over medium heat for 35 minutes. Then turn off the heat, and let it sit on the stove, covered, for another 30 to 40 minutes until the salt is warm to the touch.

6.    Once the salt is warm to the touch, use a wooden spoon or a spatula to carefully lift the chicken out of the salt. Be very careful--the chicken is still very hot despite sitting with the heat off for 30-40 minutes. Carefully unwrap the parchment paper, and let it cool slightly until it’s not too hot to handle.

7.    As for how to serve the chicken, this dish is usually served with the meat deboned and pulled apart. You don’t have to follow these steps, but your diners (in our case, Sarah) will appreciate your effort! Plus, the chicken bone and carcass do make a lovely broth. As you pull the meat off the chicken, there will be a lot of juice--do yourself and your diners a favor by pouring the juice over the chicken after it’s plated! For the finishing touch, sprinkle with chopped scallion.

 


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