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!

PATA TIM (BRAISED PORK HOCK)

Pata Tim is a popular Filipino-Chinese dish of braised pork leg or hock that is cooked long and slow until the meat becomes so tender it literally falls out of the bones. Try this Pata Tim recipe for a melt-in-your-mouth succulent meat with a perfect sweet-savory sauce that goes with it.


It is not just the tenderness of the meat that made me rethink my position about this dish, but also how they were able to make the perfect balance of seasoning. What I really liked is that it was not as sweet as the Pata Tim I know of and the flavors have seeped so deep into the meat but never overpowering the flavor of the pork itself.

I suggest to let the whole pork hock marinate in a brine for at overnight so that the flavors can seep deep into the meat.


Pata Tim (Braised Pork Hocks)
Pata Tim is a popular Filipino-Chinese dish of braised pork hock that is cooked long and slow until the meat becomes so tender it literally falls out of the bones.


Ingredients
  • 3 pounds whole pork leg (ham hock)
FOR THE BRINE
  • 4 cups water
  • 1/4 cup salt
  • 3 pieces star anise
  • 3 pieces bay leaves
  • 1/2 teaspoon peppercorn
FOR THE BRAISING
  • 3 tablespoons oil - for searing
  • 3 cups water
  • 1/2 head garlic - cut into half, crosswise
  • 2 tablespoons brown sugar
  • 1/4 cup soy sauce
  • 3 pieces star anise
  • 3 pieces bay leaves
  • 1/2 teaspoon peppercorn
  • 3 tablespoons cornstarch
  • 1/4 cup water
Instructions
  1. Pour 4 cups of water into a pot. Add salt, star anise, bay leaves, and peppercorns. Bring to a simmer until salt is dissolved. Let it cool down to room temperature.
  2. Place pork hock in a large bowl or a Ziploc bag.  Pour the brine solution over the pork hock and cover. Place in the fridge overnight (or up to 3 days). Remove from brine and pat the pork hock dry.
  3. In a pot just large enough to fit the whole pork hock, heat oil over medium-high heat. Sear all sides until golden about 3 minutes each side.
  4. Pour 3 cups of water and add the garlic, brown sugar, soy sauce, star anise, bay leaves, and peppercorns. Cover the pot with the lid and bring to a boil.
  5. Once it starts to boil, turn down the heat to low and cook for at least 3 hours or until the skin and meat are so tender they easily separate from the bone. Remember to turn the meat every other 30 minutes. You may have to add more water until the meat reached the desired tenderness.
  6. Make sure also that by that time, you still have at least 1 cup (up to 1.5 cups) of the liquids remaining. 
  7. Gently remove the pork hock and transfer to a serving dish. Run the remaining liquids through a strainer or a sieve to remove the chunky pieces. Return the liquids to the pot and turn heat to low.   
  8. Dissolve the cornstarch in 1/4 cup of water and gradually pour this mixture into the pot with liquids while continuously stirring to form a thick sauce.  
  9. Pour sauce over the pork leg and serve. This is usually eaten with steamed rice. You may also add some steamed bok choi for sides. 

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