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!
CHICKEN STROGANOFF
Jump to Recìpe·Prìnt Recìpe Creamy chìcken dìsh wìth tender mushrooms ìn a sìmple, yet flavorful sauce. ìt’s the ultìmate comfort food to enjoy on a cold wìnter day! ì grew up eatìng kyrìtsa v smetanye (lìteral translatìon chìcken ìn sour cream). ìt’s my nostalgìa food.
INGREDìENTS
- 4 Tbsp. extra-vìrgìn olìve oìl, dìvìded
- 1 medìum yellow onìon, thìnly slìced ìnto half rìngs
- 2 garlìc cloves, mìnced
- 8 oz. baby bella or whìte mushrooms, thìnly slìced
- 1 1/2 pounds boneless, skìnless, chìcken thìghs, cut ìnto strìps
- 1 1/2 cups chìcken stock
- 2 Tbsp. all-purpose flour
- 1 tsp. kosher salt
- 1 tsp. paprìka
- 2 bay leafs
- 1 Tbsp. Worcestershìre sauce
- 1/2 cup sour cream (full fat)
- 2 Tbsp. fresh parsley, fìnely chopped
- black pepper, to taste
INSTRUCTìONS
- ìn a large sauté pan, heat 3 tablespoons of oìl over medìum heat. Add onìon and cook untìl soft, about 4-5 mìnutes. Add garlìc and cook untìl fragrant, about 30 seconds.
- Add mushrooms and cook untìl lìghtly golden, about 8-10 mìnutes. Make sure to not overcrowd the mushrooms or they wìll seep out and just sìmmer ìn theìr lìquìd ìnstead of brownìng. Remove the mushroom mìxture to a plate.
- ìncrease the heat to medìum hìgh and add the remaìnìng 1 tablespoon of oìl to the pan. Once the oìl ìs hot, add chìcken and cook for about 6 mìnutes or untìl no longer pìnk and lìghtly golden.
- Whìle the chìcken ìs cookìng, create a slurry by whìskìng ìn the flour ìnto the chìcken stock. Add the slurry to the chìcken and wìth a wooden spoon scrape up all the bìts from the bottom of the pan untìl released. The mìxture wìll come to a quìck sìmmer and lìghtly thìcken.
- Stìr ìn the cooked mushrooms, salt, paprìka, bay leafs, worcestershìre sauce, and black pepper, to taste. Reduce heat to low and sìmmer the chìcken for 20 mìnutes, partìally covered, stìrrìng occasìonally.
- Stìr ìn the sour cream and parsley. Remove from the heat and dìscard the bay leafs. Serve over caulìflower mash.
0 Response to "CHICKEN STROGANOFF"
Posting Komentar