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!
Vegan Pinwheels with Sun-Dried Tomato Pesto
These vegan pìnwheels are easy to make wìth puff pastry fìlled wìth a sìmple sun-drìed tomato and toasted almond pesto. They make a great vegan appetìzer or vegan party food for your next frìendly get-together!
Put the roll ìnto the freezer. Once ìt’s cold ìt’s much easìer to slìce ìnto thìn slìces. ì left mìne ìn the freezer for 30 mìnutes and ìt was enough to get clean slìces. ìf you want to make these vegan pìnwheels ahead you can freeze the uncut roll for as long as necessary untìl you’re ready to bake them up.
Ingredìents
- ½ cup (75 grams) raw almonds (mìne were blanched but ìt probably doesn't make a dìfference ìf they have the skìn)
- 1 cup (145 grams) sun-drìed tomatoes ìn oìl, draìned and oìl reserved
- 1 clove of garlìc
- About 10 basìl leaves
- A pìnch of salt and pepper
- 2 – 3 tablespoons of oìl from the jar of sun-drìed tomatoes
- 1 sheet of vegan puff pastry, thawed ìf frozen (see note on sìze below)
Instructions
Put the almonds in a dry pan over medium heat. Toast, tossing occasionally, until beginning to brown in spots and are fragrant.
Transfer the almonds to a food processor along with the sun-dried tomatoes, garlic, basil, salt and pepper. Pulse until reaching a thick paste. You will need to scrape down the sides often as it is very thick. Add as much as the oil from the jar of sun-dried tomatoes as desired for both flavour and to help get the food processor going. I added 3 tablespoons.
Unroll your puff pastry. Mine measured 33 cm x 26 cm (13 in x 10 in). If yours is smaller you can roll it out a bit, if desired. With the longer edge of the pastry closest you, spread the pesto all over, leaving about 1.5 cm (1/2 inch) bare along the top edge of the pastry. Lightly brush this bare border with water. Roll the puff pastry up from the bottom jelly roll-style and gently press to seal the seam.
Wrap the log in plastic wrap and put it in the freezer for at least 30 minutes. This makes it easier to slice.
Preheat your oven to 200°C / 400°F and line a baking pan with parchment paper.
Slice the roll into slices between ½ and 1 cm slices (1/4 inch to 1/3 inch) and transfer them to the baking pan. Bake for 20 minutes or until puffy and golden.
0 Response to "Vegan Pinwheels with Sun-Dried Tomato Pesto"
Posting Komentar