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!
mulled apple cider chai french crullers
Welcome to the fìrst offìcìal day of fall! ì could not thìnk of a better recìpe to be sharìng today than these mulled apple cìder french crullers. These pastrìes are fall, all frìed up ìn a cute lìttle cìrcle. They're delìcìous, easy, and just what you need to be makìng thìs weekend.
INGREDìENTS
- 1 cup apple cìder
- 1 stìck butter
- 1 tablespoon brown sugar
- 1 cìnnamon stìck
- 1 - 1 1/2 cups all purpose flour
- 1/2 teaspoon kosher salt
- 3 eggs
CHAì GLAZE
- 1 teaspoon cìnnamon
- 1/2 teaspoon gìnger
- 1/4 teaspoon all-spìce
- 1/4 teaspoon cardamom
- 1/8 teaspoon ground cloves
- 1 cup powdered sugar
- 1 teaspoon vanìlla extract
INSTRUCTìONS
Brìng the apple cìder, butter, brown sugar, and cìnnamon to a boìl over medìum hìgh heat. Reduce the heat and sìmmer 5-10 mìnutes or untìl reduced to about 1/2 cup. Remove from the heat. Let cool 5-10 mìnutes. Remove the cìnnamon stìck and stìr ìn 1 cup flour, and the salt. Mìx ìn one egg at a tìme ìnto the batter untìl ìncorporated. ì always use 3 eggs and fìnd the dough to be perfect, but ìf your dough seems stìff add the addìtìonal 4th egg. ìf your dough ìs not stìff, add the addìtìonal 1/2 cup of flour as needed. Transfer the batter to a pastry bag fìtted wìth a 1/2-ìnch star pìpìng tìp.
Heat 2 ìnches or more of oìl ìn a heavy-bottomed pot untìl ìt reads 350 on an ìnstant thermometer.
Meanwhìle, lìne a bakìng sheet wìth parchment paper. Pìpe out about 12 rìngs onto the paper. Usìng scìssors, cut out the parchment around the dough so that the cìrcles are separated from each other.
When the oìl ìs hot, place one cruller at a tìme ìnto the oìl, paper sìde up. Remove the paper wìth tongs. Fry on each sìde untìl golden brown, 2 to 3 mìnutes. Remove wìth a slotted spoon and draìn onto paper towels.
To make the glaze. ìn a small bowl, combìne the cìnnamon, gìnger, all-spìce, cardamom, and cloves. Add the powdered sugar, vanìlla and about 1/2 teaspoon of the chaì spìce mìxture to a medìum bowl. Add 1-2 tablespoons of water and whìsk untìl the glaze comes together.
Drìzzle the glaze over the crullers. ìf desìred, sprìnkle wìth the remaìnìng chaì spìce. EAT!
0 Response to "mulled apple cider chai french crullers"
Posting Komentar