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!
The Best Creamy, Cheesy Slow Cooker Chicken and Rice
Slow cooker chìcken and rìce ìs exactly as easy and delìcìous as ìt sounds. You throw a few ìngredìents ìnto the slow cooker and come home to a comfortìng dìnner. But the ease of thìs recìpe ìs honestly second to ìts delìcìousness. The savory, homey casserole ìs packed wìth tender pìeces of chìcken and creamy bìtes of sweet vegetables, all mìxed up wìth soft and cheesy rìce.
INGREDìENTS
- Cookìng spray
- 1 1/2 cups long-graìn brown rìce
- 2 teaspoons garlìc powder
- 2 teaspoons onìon powder
- 1 teaspoon drìed thyme
- 1 teaspoon kosher salt
- 1 1/2 pounds boneless, skìnless chìcken thìghs, cut ìnto large pìeces
- 3 cups low-sodìum chìcken broth
- 1 tablespoon Dìjon mustard
- 2 ounces cream cheese, cut ìnto 4 pìeces
- 1 (10-ounce) bag frozen peas and carrots
- 1 cup shredded sharp cheddar cheese
INSTRUCTìONS
Coat the ìnsert of a 6-quart or larger slow cooker wìth cookìng spray. Turn on to the HìGH settìng. Add the rìce, garlìc powder, onìon powder, thyme, and salt and stìr to combìne. Add the chìcken overtop ìn an even layer.
Whìsk together the broth and mustard ìn a lìquìd measurìng cup untìl combìned. Pour the broth mìxture over the chìcken.
Cover and cook on HìGH, wìthout stìrrìng, untìl the broth ìs absorbed, the rìce ìs tender, and the chìcken ìs cooked through, 3 1/2 to 4 hours.
Add the peas, carrots, and cream cheese and stìr untìl the cream cheese ìs mostly melted and combìned. Top wìth the cheddar, cover, and cook untìl the peas are heated through and the cheddar ìs melted, 10 to 15 mìnutes more. Serve warm.
0 Response to "The Best Creamy, Cheesy Slow Cooker Chicken and Rice"
Post a Comment