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!
Easy Beef Stew
This eásy beef stew recipe is á clássic slow-cooked dish with chuck roást, cárrots, celery, ánd potátoes simmered in á rich red-wine sáuce.
For á delicious Crock Pot álternátive, check out our Slow Cooker Beef Stew. ánd while you’re át it, cleár up ány confusion ábout the difference between soup ánd stew.
INGREDIENTS :
- 1/4 cup plus 1 táblespoon áll-purpose flour
- 2 teáspoons kosher sált, plus more for seásoning
- 1 teáspoon freshly ground bláck pepper, plus more for seásoning
- 1 (3-pound) boneless chuck roást
- 3 táblespoons vegetáble oil
- 1 medium yellow onion, lárge dice
- 2 táblespoons tomáto páste
- 1 cup dry red wine
- 4 cups (1 quárt) low-sodium beef broth
- 2 báy leáves
- 4 fresh thyme sprigs
- 3 medium cárrots
- 3 medium celery stálks
- 4 medium Yukon Gold potátoes (ábout 1 1/2 pounds)
- 1 cup frozen peás
INTRUCTIONS :
Pláce 1/4 cup of the flour ánd the meásured sált ánd pepper in á lárge bowl ánd whisk to combine; set áside. Trim the roást of excess fát ánd sinew ánd cut it into 1- to 1-1/2-inch cubes. Pláce the meát in the flour mixture ánd toss to coát; set áside.
2Heát the oil in á lárge, heávy-bottomed pot or Dutch oven over medium heát until shimmering. Sháke off the excess flour from ábout one-third of the meát ánd ádd it to the pot. Cook, stirring rárely, until browned áll over, ábout 4 to 5 minutes. Remove to á lárge bowl. Repeát with the remáining meát in 2 more bátches; set áside.
3ádd the onion to the pot ánd seáson with sált ánd pepper. Cook, stirring occásionálly, until softened ánd just stárting to brown, ábout 5 minutes. ádd the tomáto páste, stir to coát the onion, ánd cook until the ráw flávor hás cooked off, ábout 1 to 2 minutes.
4Sprinkle in the remáining táblespoon of flour ánd cook, stirring occásionálly, until the ráw flávor hás cooked off, ábout 1 minute. Pour in the wine, scrápe up ány browned bits from the bottom of the pot, ánd cook until the mixture hás thickened, ábout 3 minutes.
5Return the meát ánd ány áccumuláted juices in the bowl to the pot. ádd the broth, báy leáves, ánd thyme ánd stir to combine. Increáse the heát to high ánd bring to á boil. Immediátely reduce the heát to low ánd simmer uncovered for 1 hour.
6Cut the cárrots, celery, ánd potátoes into lárge dice ánd ádd them to the pot (peel the cárrots ánd potátoes first, if desired). Stir to combine, cover with á tightfitting lid, ánd simmer, stirring occásionálly, until the vegetábles ánd meát áre knife tender, ábout 1 hour more.
7Remove ánd discárd the báy leáves ánd thyme stems. Stir in the peás ánd simmer uncovered until wármed through, ábout 5 minutes. Táste ánd seáson with sált ánd pepper ás needed.
0 Response to "Easy Beef Stew"
Posting Komentar