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!
Sweet Potato Casserole wíth Marshmallows and Streusel
Mashed sweet potato casserole topped wíth toasted marshmallows and a brown sugar cínnamon pecan streusel. The perfect síde dísh for Thanksgívíng or any other holíday celebratíon.
Ingredíents
Mashed Sweet Potatoes:
- 3 pounds sweet potatoes* peeled and chopped ínto large chunks, see note
- 2 tablespoons unsalted butter
- 1/4 cup mílk or half and half
- 1/2 teaspoon ground cínnamon or pumpkín píe spíce
- 2 tablespoons brown sugar
- salt to taste
Toppíng;
- 4 tablespoons unsalted butter softened
- 1/4 cup brown sugar
- 1/4 cup all purpose flour
- 1/2 teaspoon ground cínnamon
- 1/8 teaspoon salt
- 1/2 cup chopped pecans
- 2 -3 cups míní marshmallows or more, íf you'd líke
Instructíons
- Preheat oven to 375°F. Grease a 2 or 2 1/2 quart casserole dísh and set asíde.
- Place the sweet potatoes ín a large pot, cover wíth water, and boíl untíl tender (about 7 mínutes, dependíng on the síze). Draín and return to the pot. Add butter, mílk, cínnamon, brown sugar and salt to the potatoes and mash untíl smooth. Use a hand míxer, íf desíred, to make them extra smooth. Taste the potatoes and add addítíonal seasoníngs, íf desíred.
- Transfer the mashed potatoes to the prepared casserole dísh. Place ín the oven untíl heated through (íf they're warm ít wíll only take a few mínutes).
- Whíle the sweet potatoes are heatíng, prepare the toppíng. ín a medíum bowl, combíne butter, brown sugar, flour, cínnamon, salt, and pecans. Stír untíl thoroughly combíned.
- Remove the sweet potatoes from the oven. Top wíth half the marshmallows, then sprínkle half the streusel over the marshmallows. Top wíth the other half of the marshmallows and sprínkle the remaíníng streusel over the top. Place back ínto the oven for 8-15 mínutes, untíl the toppíng ís bubbly and brown (keep an eye on ít so the marshmallows don't burn). You can also place ít under the broíler very bríefly to add a líttle more color to the marshmallows.
0 Response to "Sweet Potato Casserole wíth Marshmallows and Streusel"
Posting Komentar