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!

Sheng Jian Bao: Pan-fried pork buns

   Sheng Jian Bao: Pan-fried pork buns


Tasty, moist pork wrapped with half-soft, half-crispy dough, Shanghai pan-fried pork buns, traditionally served as breakfast, make a great party food.


Like many modern cities, Shanghai is full of wonderful choices when it comes to food. I had numerous scrumptious meals during my trips there. The diversity and creativity of this giant city’s culinary profile was quite impressive. However, the most memorable meal I had there was at a humble, busy breakfast stall which served the local speciality: Sheng Jian Bao (生煎包), pan-fried pork buns.


Ingredients
    For the wrappers
  • 250g / 2 cups all purpose flour (see note 1)
  • 1 teaspoon sugar
  • 1 teaspoon dried instant yeast (see note 2)
  • 140ml / 9 tablespoons water, lukewarm
    For the filling
  • 250g / 9oz minced pork
  • 2 stalks spring onion, finely chopped
  • 1/2 tablespoon ginger, minced
  • 2 teaspoons light soy sauce
  • 1/2 teaspoon Shaoxing rice wine
  • 1/2 teaspoon pure sesame oil
  • 1/4 teaspoon salt
  • 1 pinch ground Sichuan pepper (or Chinese five-spice powder)
  • 5 tablespoons water (or chicken stock)
    For frying
  • 1 tablespoon cooking oil
  • 240ml / 1 cup water
  • Toasted sesame seeds
  • Spring onion, finely chopped
Instructions
  1. Prepare the dough: In a large bowl, mix flour, yeast and sugar. Pour in water little by little while stirring with a pair of chopsticks (or a fork). Then knead with your hand until a smooth, elastic dough forms (see note 3). Cover the bowl with a wet kitchen towel. Leave to rise in a warm place until double in size. It will take between 40 minutes to 1.5 hours depending on the room temperature.
  2. Mix the filling: Put all the ingredients for the filling (except for water / stock) into a large bowl. Swirl constantly in the same direction while gradually adding water / stock spoon by spoon into the mixture.
  3. Shape the buns: Knead the dough on a floured work surface until it goes back to its original size. Divide it into 20 equal portions. Roll each piece into a disk-like wrapper. Hold the wrapper in the palm of one hand. Place some filling in the middle. Use the other hand to fold the edge anticlockwise by pinching with thumb and index finger until the bun is completely sealed (pleas refer to the images above). Leave to rest for 15 minutes before frying.
  4. Fry the buns: Heat up oil in a frying pan over a high heat. Place in the buns. When the bottom part becomes golden brown, pour in water then cover with a lid. Uncover when the water evaporates completely. Sprinkle sesame seeds and spring onion over. Cook another 1-2 minutes to crisp up (see note 4 & 5).
Notes
1. The ideal flour water ratio may vary slightly depending on the brand of the flour and how you measure it (Measuring flour with cups is less accurate).
2. I use dried instant yeast (this is sometimes called “quick”, “fast action” or “easy blend” yeast) which doesn’t need to be frothed before using. You may use other types of yeast following the recommended quantity and mixing method.
3. You may use a stand mixer with a fitted dough hook. Put all the ingredients into the mixing bowl. Knead for 5 minutes or so on lowest speed. Alternatively, a bread maker with a dough cycle can help you to finish step 1 with ease.
4. I use a 28cm / 11inch frying pan in which I can fit 20 buns at once. You may use a smaller pan and fry twice. Adjust the volume of oil and water accordingly.
5. When frying, you can either put the folded side facing up or down. If you prefer the latter, make sure to securely seal the buns to avoid any juice leaking from the filling.
Recipe Adapted By redhousespice.com

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