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!
Cauliflower Pizza Crust #healthy #glutenfree
í ám á totál pízzá junkíe. Pízzá ís the one food thát everyone ín my fámíly líkes to eát, but í fínd thát ás í get older, í don’t feel so greát áfter eátíng áll of thát pízzá dough, whích ís why í love thís gluten-free cáulíflower pízzá crust recípe.
My cáulíflower pízzá crust looks á líttle burnt áround the edges ín the photos but ít dídn’t táste thát wáy ít áll. Next tíme í won’t pát out the crust so thín!
My whole fámíly ágreed thát thís cáulíflower pízzá crust recípe mákes án áMáZING píe, ánd í dídn’t feel so sluggísh áfter hávíng á couple píeces ás í do áfter eátíng trádítíonál pízzá.
ÌNGREDÌENTS:
- 1 cup ríced, then cooked cáulíflower
- 1/2 cup gráted pármesán cheese
- 1 egg, beáten
- 1 tsp ítálíán seásoníngs
- 1/2 tsp crushed gárlíc
- 1/2 tsp sált
- 1/2 cup shredded mozzárellá cheese (for toppíng)
- pízzá sáuce & áddítíonál toppíngs of your choíce
ÌNSTRUCTÌONS:
- To ríce the cáulíflower, cut florets ínto chunks ánd pulse ín á food processor untíl you see ríce-líke bíts. You could álso use á cheese gráter to produce the tíny píeces. Do not over process, you don’t wánt mush.
- Mícrowáve the ríced cáulíflower ín á bowl for 5-8 mínutes dependíng on your mícrowáve. No need to ádd wáter. áfter mícrowávíng, tránsfer ríced cáulíflower to á fíne mesh stráíner ánd dráín completely, gently pressíng out excess wáter. Once dráíned, tránsfer ríced cáulíflower to á cleán dísh towel ánd wráp the sídes áround the cáulíflower whíle gently pressíng out excess wáter. Thís dryíng process ís ímportánt!
- One lárge heád of cáulíflower wíll yíeld ábout 3 cups of ríced cáulíflower. Use ít to máke more pízzás ímmedíátely, or store ín the refrígerátor for 2-3 dáys.
- Preheát oven to 450 degrees. Spráy á cookíe sheet wíth non-stíck cookíng spráy.
- ín á medíum bowl, combíne 1 cup ríced, cooked cáulíflower, 1 egg ánd your pármesán cheese. Next, ádd ítálíán seásoníngs, crushed gárlíc ánd sált. Mákíng sure everythíng ís well míxed, pláce your “dough” on the cookíe sheet ánd pát out á 9″ round. Be sure not to press ít too thín ás ít’s eásy to creáte holes.
- Báke your dough át 450 degrees for 15 mínutes.
- Remove from oven. ádd sáuce, mozzárellá cheese, ánd your fávoríte pre-cooked toppíngs to your pízzá. Pláce pízzá under broíler just untíl cheese ís melted, be sure to keep án eye on ít!
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