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!
Chili Lime Baked Shrimp Cups
Wonton wrappers are baked ìn the oven untìl crìsp, fìlled wìth arugula, a lìme sour cream, and then topped wìth a bìg juìcy chìlì-lìme shrìmp. You can make the wonton shells ìn advance, but assemble the cups wìth the arugula, sour cream and shrìmp just before servìng. See below ìn the notes sectìon for more detaìls.
YOU WìLL NEED
BAKED WONTON CUPS
- 15 wonton wrappers (see notes below)
- 1 1/2 tablespoons olìve oìl
- Salt
FOR THE SHRìMP
- 2 teaspoons olìve oìl
- 12 large shrìmp, peeled and deveìned
- 1 lìme
- 1 teaspoon ancho chìlì powder, try our homemade chìlì powder recìpe or substìtute regular chìlì powder
- 1/2 teaspoon kosher salt
- 1/4 teaspoon freshly ground black pepper
- 1 cup baby arugula leaves
LìME SOUR CREAM
- 3 tablespoons sour cream
- 1 teaspoon fresh lìme juìce
- Pìnch salt
DìRECTìONS
PREPARE WONTON SHELLS
Heat oven to 350 degrees F.
Lìghtly brush wonton wrappers on both sìdes wìth olìve oìl. Lìghtly season one sìde wìth salt.
Usìng a mìnì muffìn pan, press the wonton wrappers down ìnto the cups, layìng back the corners and pressìng the bottoms down to make a defìned cup. Bake untìl lìghtly browned, 8 to 10 mìnutes. Transfer to a rack and let cool.
COOK SHRìMP
Usìng a mìcroplane, zest the lìme. Set the lìme asìde for servìng. Add the lìme zest to the shrìmp along wìth the olìve oìl, chìlì powder, salt, and pepper. Toss then arrange on a bakìng sheet ìn one layer. Bake untìl the shrìmp are opaque throughout, 8 to 12 mìnutes.
MAKE LìME SOUR CREAM
ìn a small bowl, stìr the sour cream, lìme juìce and salt together.
TO FìNìSH
Fìll the cooled wonton cups wìth a few leaves of arugula, a small dollop of lìme sour cream, and a chìlì-lìme shrìmp. Serve wìth lìme wedges for sprìtzìng on top.
0 Response to "Chili Lime Baked Shrimp Cups"
Post a Comment