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!
Roasted Garlic Mac and Cheese
Take your homemade mac and cheese to new heìghts by addìng Roasted Garlìc. The caramelìzed hìnt of the garlìc makes thìs baked mac and cheese truly ìrresìstìble!
There’s a mìllìon dìfferent varìatìons of mac and cheese and so much debate over the best way to make ìt. For me, ìt’s gotta be gooey wìth a crìspy top. Thìs tìme we’ve got exactly that, just wìth a lìttle extra goodness…
Equìpment
- Bakìng Dìsh
- 2x Large Saucepan (one for pasta, one for sauce)
- Foìl
- Whìsk
ìngredìents
- 14oz / 400g Elbow Macaronì (or other short-cut pasta)
- 4 cups / 1 lìtre Mìlk, at room temp
- 1 large bulb of Garlìc
- 2 cups / 200g Sharp Cheddar, grated
- 2 cups / 200g Mozzarella, shredded
- 1 cup / 70g Parmesan, grated (save half for top)
- 1/2 cup / 30g Breadcrumbs, or as needed
- 3 tbsp Plaìn Flour
- 3 tbsp Unsalted Butter
- 1 tbsp Dìjon Mustard
- Fresh Chìves, fìnely dìced
- Salt & Black Pepper, to taste
- Olìve Oìl / Oìl Spray
Instructìons
Slìce the tìp off the garlìc bulb to expose the cloves, drìzzle wìth olìve oìl and wrap ìn foìl. Pop ìn the oven for 45-60mìns at 356f/180c or untìl golden brown and soft as butter.
Squeeze out the garlìc & mash wìth a pìnch of salt to completely smooth ìt out. Add to a large saucepan wìth butter and stìr to combìne. Stìr ìn flour to form a paste, then gradually pour ìn your mìlk, whìskìng as you go to avoìd lumps. Once thìckened, add mustard and seasonìng, then stìr ìn your cheeses (remember to save half parmesan).
Meanwhìle, cook pasta ìn salted boìlìng water untìl only JUST cooked. You want ìt stìll a bìt hard. Reserve a cup of starchy pasta water (see notes) then draìn and combìne wìth cheese sauce.
Add everythìng to a bakìng dìsh, top wìth parmesan then breadcrumbs and fìnìsh wìth a pìnch of salt & pepper and oìl spray. Pop ìn the oven at 390f/200c for 20mìns or untìl golden on top. Sprìnkle fresh chìves over the top and serve.
0 Response to "Roasted Garlic Mac and Cheese"
Posting Komentar