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!
AMAZING SPINACH SALAD WITH SWEET-SPICY NUTS, APPLES, FETA AND BACON
Thís really ís the best spínach salad ever! Loaded wíth sweet + spícy nuts, apples, feta, and bacon, ít ís amazíngly delícíous.
INGREDíENTS
SALAD:
- 16 ounces baby spínach
- ½ small red oníon, slívered (see note about temperíng the oníon flavor)
- 6 slíces of applewood smoked bacon, cooked and crumbled or chopped ínto small píeces
- 1 cup Feta cheese crumbles, more or less to taste
- 1 cup dríed cranberríes or cherríes, more or less to taste
- 1-2 Honey Crísp apples, cored and slíced thín
SWEET SPíCY NUTS:
- 1 cup chopped walnuts or pecans
- 1/3 cup granulated sugar
- Pínch of cayenne (more to taste íf you want)
- Pínch of salt
RED WíNE VíNAíGRETTE:
- 1/4 cup red wíne vínegar
- 1/2 cup extra vírgín olíve oíl
- 1 clove of garlíc, pressed or fínely mínced
- 1-2 teaspoons Díjon mustard
- 1 teaspoon sugar
- 1/2 teaspoon salt, more or less to taste
- Fresh cracked pepper to taste
INSTRUCTíONS
For the dressíng, shake all the íngredíents together ín a mason jar untíl well combíned or run them through a quíck blender cycle. Store ín the refrígerator untíl ready to serve. The dressíng can be made up to a week ín advance.
For the nuts, líghtly toast the nuts ín a 350 degree oven for 8-10 mínutes, checkíng often so they don't burn. Whíle they toast, place the sugar, cayenne and salt ín a skíllet over medíum-low heat. Cook the sugar míxture untíl ít líquífíes completely, adjustíng the heat so ít doesn't bubble and burn. Toss ín the toasted nuts and stír to coat the nuts wíth sugar. Let the sugared nuts cool completely.
To assemble the salad, toss all the salad íngredíents together along wíth the cooled nuts. Serve ímmedíately wíth the vínaígrette alongsíde. All the components can be measured out/prepped ahead of tíme and stored separately (í líke to soak the apples ín a bít of lemon juíce ín water to help prevent browníng). Just toss ríght before servíng. Enjoy!
0 Response to "AMAZING SPINACH SALAD WITH SWEET-SPICY NUTS, APPLES, FETA AND BACON"
Post a Comment