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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!

HERB ROASTED CHICKEN BREASTS

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I often use a rotisserie chicken for this purpose, they are sometimes just too salty and we have a hard time going through a whole chicken between the two of us. So, this week I experimented a bit more with the “low and slow” roasting method and made these incredibly tender and juicy Herb Roasted Chicken Breasts.


This time I combined the butter with a trio of herbs and slathered it over two bone-in, skin-on split chicken breasts. The breasts were quite large, so I lowered the heat a bit and let them roast even longer before removing the cover to let them brown. The results were even more incredible.

HERB ROASTED CHICKEN BREAST RECIPE
These juicy and tender Herb Roasted Chicken Breasts are a breeze to make and are a great substitute for store bought rotisserie chicken. 



INGREDIENTS
  • 3 Tbsp room temperature butter 
  • 2 cloves garlic, minced 
  • 1 tsp dried basil 
  • 1 tsp dried thyme 
  • 1 tsp dried rosemary 
  • 1/2 tsp salt 
  • Freshly cracked pepper (about 10 cranks of a mill) 
  • 2 split chicken breasts* (about 3 lbs. total) 

INSTRUCTIONS

  1. Preheat the oven to 275ºF. Remove the chicken from the refrigerator and allow it to warm slightly as you prepare the butter herb mix (5 minutes or so).
  2. In a small bowl, stir together the butter, minced garlic, basil, thyme, rosemary, salt, and pepper. Rosemary pieces can be quite large, so either chop or crumble the dried pieces with your hands before adding them to the mix.
  3. Place the chicken on a cutting board and pat it dry on both sides with a clean paper towel. Smear the butter herb mixture over both sides of the chicken. Drying the meat will help the butter herb mixture stick. If the meat is too cold, it will form condensation as you rub the butter mixture over the surface and the butter will not stick.
  4. Place the seasoned chicken pieces in a casserole dish that is deep enough to fully contain the chicken. Cover tightly with foil, or with the dish's lid if there is one. Bake the chicken in the preheated oven for 90 minutes, basting once half way through.
  5. Ater 90 minutes, remove the foil, baste again, and adjust the oven's temperature to 425ºF. Bake the chicken at 425ºF for 20 minutes without the foil, or until the skin is deep golden brown and crispy. Remove the chicken from the oven and let rest for 5-10 minutes.
  6. Slice the breasts or pull the meat from the bone. Reserve the juices from the bottom of the casserole dish for drizzling over top of the meat.

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