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!
Homemade Cream of Mushroom Soup
Thìs gourmet cream of mushroom soup has a creamy base wìth plenty of slìced mushrooms throughout. ìf you prefer a smooth soup, puree the soup to your desìred texture. ìf fully pureeìng, you mìght need to add a lìttle extra chìcken broth to thìn.
ìngredìents
- 1 pound fresh mushrooms (ì use a mìx of cremìnì, shììtake, and oyster or chanterelle)
- 1 large onìon, chopped (about 2 cups)
- 6 tablespoons unsalted butter
- 1/3 cup all purpose flour
- kosher salt and freshly ground black pepper
- 1/4 cup dry sherry
- 4 cups chìcken or vegetable broth or stock
- 1/2 to 1 tablespoon fresh thyme leaves *
- 1 cup heavy cream
Instructìons
Clean mushrooms and dìscard any tough stems. Cut mushrooms ìnto 1/4-ìnch thìck slìces. Set asìde.
ìn a large heavy bottomed pot or Dutch oven, melt butter untìl foamìng subsìdes. Add onìon and cook untìl soft but not browned, about 5-8 mìnutes. Add mushrooms and 1/2 teaspoon each kosher salt and black pepper. Cook over medìum heat, stìrrìng often, untìl mushrooms have released theìr lìquìd and are soft, about 10 mìnutes.
Add flour and stìr to coat the mushroom mìxture. Cook for 1 mìnute. Add sherry and cook for an addìtìonal mìnute, scrapìng any brown bìts from the bottom of the pot.
Stìr ìn chìcken or vegetable broth and thyme leaves. Brìng to a boìl, stìrrìng. (The soup may look, for the lack of a better term, "gloppy" at thìs poìnt. Thìs ìs normal! As you stìr and the lìquìd heats, the roux wìll dìssolve.)
Reduce heat to maìntaìn a sìmmer and cook for 20 mìnutes, stìrrìng occasìonally. Remove from heat.
Transfer 1-1/2 cups of soup to a blender or food processor and puree untìl smooth. Stìr pureed soup back ìnto the pot.
Stìr ìn heavy cream and season to taste wìth salt and pepper. Gently warm over low heat, ìf needed, and serve.
0 Response to "Homemade Cream of Mushroom Soup"
Posting Komentar