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!

Flat Iron Steak Grilled and Cooked in a Delicious Asian Steak Marinade {Recipe}


Flat Iron Steak is an extremely flavorful, amazing cut of meat. It is the most juicy and tender steak when cooked to perfection! This delicious flat iron steak recipe is soaked in an Asian steak marinade, seasoned with a little salt and pepper, and is grilled 4 minutes per side for medium rare on a hot preheated grill.

WHY IS FLAT IRON STEAK SO FLAVORFUL AND TENDER?

Flat Iron steaks are the second most tender cut of beef next to the tenderloin. Also known as top blade steak, this cut of meat is evenly richly marbled and comes from the beef chuck shoulder clod with the connective tissue removed.
The flat iron is one of the juiciest and flavorful steaks you can quickly cook or grill with just salt and pepper. Its natural beef flavor makes it one of the most popular and affordable steaks you can buy with all the quality of expensive steaks often found on restaurant menus. For the record, I think it tastes better than its more expensive counterparts like New York strip and comparable to filet mignon.
To experience the great beefy flavor of a flat iron steak, all the steak needs is to be rubbed with a little olive oil and seasoned with salt and pepper. The steaks should be cooked medium-rare and no further done than medium. Otherwise, the steak will become less tender and tougher.

THE BEST WAY TO COOK FLAT IRON STEAK

One of the best qualities of the flat iron is its thickness. As its name suggests, the steak is flat and not too thick – slightly thicker than 1-inch. This makes the flat iron steak ideal for home cooks who want to cook a fast weeknight meal. Whether by itself or cut into thin strips for salads and tacos, this steak will not disappoint you and will become your new favorite cut.
The two best ways to cook the flat iron steak is by either grilled in a hot preheated grill or by pan-seared in a hot cast-iron pan. Allowing the steaks to come to room-temperature by setting it on the counter for 30 minutes before cooking will ensure the steaks are not raw in the middle. Whether grilled or pan-seared, both methods will require cooking the steak about 4 minutes per side for medium-rare, and 5-6 minutes for medium. Grilled flat iron steaks is my preferred method of cooking.

ASIAN-INSPIRED FLAT IRON STEAK MARINADE

This flat-iron Asian steak marinade recipe is so good and slightly adapted from The Pioneer Woman. The recipe is from Ree Drummond’s Black Heels to Tractor Wheels book where she prepares her husband, the Marlboro Man, a flank steak dinner in their dating days. I love the headnote, “Finished product should not look like leather.” – Amen to that, sister! In this version I decided to use flat iron steak because it’s a little bit more juicy and tender than its flank steak cousin.

For this steak marinade you will need these ingredients:

  • Soy Sauce
  • Sherry
  • Honey
  • Sesame Oil
  • Ginger
  • Garlic
  • Red Pepper Flakes

To Cook the Flat Iron Steaks:

You can use this steak marinade for different cuts of meat. The Pioneer Woman uses it on flank steak, but I really enjoyed it as a flat iron marinade. And to make the grilled steak dinner complete, I also use a little bit of roasted sesame seeds and green onions as a garnish, but you can easily omit them.
To make the marinade, whisk all the ingredients in a small bowl and then transfer to a ziplock plastic bag. Add the steaks to the marinade allow it to marinate for 3-6 hours before grilling. You can also prepare the steak marinade the night before so it will be ready the next day.

FLAT IRON STEAK RECIPE

Asian Inspired Flat Iron Steak Recipe
Author: 
Recipe type: MAIN
Prep time:  
Cook time:  
Total time:  
Serves: 4-6
 
A delicious Asian-inspired grilled flat iron steak recipe adapted from The Pioneer Woman.
Ingredients
  • ½ cup Soy Sauce
  • ½ cup Sherry
  • ¼ cup Honey
  • 2 Tablespoons Sesame Oil
  • 2 Tablespoons (heaping) Minced Ginger
  • 2 Tablespoons (3-5 cloves) Minced Garlic
  • teaspoons Crushed Red Pepper Flakes
  • 2 Flat Iron Steaks
  • Garnish: 2 Tablespoons Roasted Sesame Seeds and 2 Green Onions, slivered.
Instructions
  1. Gather all ingredients together – soy sauce, sherry, honey, sesame oil, garlic, ginger, red pepper flakes, and flat iron steak.
  2. Whisk the ingredients in a bowl. Place the steaks and marinade in a ziplock bag and chill in the refrigerator for 3-6 hours.Grill steaks on high heat for 4 minutes on each side for medium rare steaks. Allow steaks to rest for 5 minutes before slicing and serving. Sprinkle roasted sesame seeds and green onion slivers on top to garnish.



Recipes Adapted By savorysweetlife.com

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