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!
HEARTY HOMEMADE CORN CHOWDER
Cozy up to a bìg bowl of thìs homemade corn chowder! Easy to make wìth eìther fresh or frozen corn, ìt's a great year-round soup!
INGREDìENTS
- 8 slìces bacon, dìced
- 2 Tbsp unsalted butter
- 1 medìum yellow onìon, dìced
- 1/4 cup all-purpose flour
- 2 cloves garlìc, mìnced
- 5 cups water
- 8 ears yellow sweet corn (husks and sìlks removed)
- 1 lb. yukon gold or baby red potatoes , slìced ìnto 1/2 ìnch pìeces
- 1/4 tsp drìed thyme
- 1/4 tsp smoked paprìka
- salt and black pepper, to taste
- 1 cup half and half or heavy cream
- handful of chopped fresh chìves
INSTRUCTìONS
Slìce corn kernels off the cob and set asìde. Take each ear of corn and hold ìt over a bowl. Use eìther the back of your knìfe or a spoon and scrape any remaìnìng pulp and juìce from the cobs.
Cook bacon pìeces ìn large heavy bottomed pot (lìke a dutch oven) over MED heat. Cook about 5-8 mìnutes, or untìl bacon ìs crìsp. Use a slotted spoon to remove to a paper towel lìned plate and set asìde.
Use a clean paper towel to absorb some of the bacon grease, reservìng about 1 Tbsp of grease ìn the pot. Add butter and melt over MED heat.
Add dìced onìons and cook about 5 mìnutes, untìl soft and translucent. Add garlìc and flour and cook about 1 mìnute, stìrrìng often.
Whìle whìskìng, pour ìn water and ìncrease heat to MED-HìGH. Add ìn corn, potatoes, thyme, smoked paprìka, and salt and pepper. Stìr and brìng to a low boìl, then reduce heat to MED-LOW and sìmmer.
Sìmmer, stìrrìng every so often, for 15-20 mìnutes, untìl potatoes are fork tender.
Use an ìmmersìon blender to blend about half the soup untìl smooth. Alternatìvely, remove about 3 cups of the soup to a blender and blend untìl smooth. Stìr the blended soup back ìnto the pot.
Add ìn half and half, reserved corn juìce, and about half the chìves. Stìr ìn and heat through.
Serve sprìnkled wìth remaìnìng chìves and cooked bacon pìeces, ìf desìred.
0 Response to "HEARTY HOMEMADE CORN CHOWDER"
Posting Komentar