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!
HOMEMADE TORTILLAS – ZUCCHINI TORTILLAS
Homemade tortillas or should I say zucchini tortillas ?! Yep! those healthy tortillas are loaded with grated zucchini, only 4-ingredients and 100% gluten free, paleo and simply the best clean eating taco recipe.
While this recipe is not difficult to make I recommend you to squeeze out ALL the juice/water from the zucchini before combining with the other ingredients. You don’t want too much water in the batter or it will dilute the tortilla batter. You know I always love low carb and high fiber flour so here I used a mix of arrowroot flour and coconut flour to bind the ingredients together.
Soft zucchini tortillas are the easiest homemade tortillas to boost your taco Tuesday night with extra greens and taste !
Ingredients
- 1 cup grated zucchini packed, squeezed to remove zucchini juice - about 4 small size zucchini
- 1 egg
- 1/3 cup arrowroot flour packed - arrowroot flour is very fine and volatile and to exactly measure the quantity I recommend to use this measuring spoon.
- 2 tablespoon Coconut flour
- 1 teaspoon oregano
- 1/2 teaspoon garlic salt or sea salt
- 1/4 teaspoon ground pepper - adjust regarding taste
Instructions
- Preheat the oven to 180C (355F).
- Prepare a baking tray covered with baking paper. Set aside.
- Wash the zucchini and leave the skin on.
- Using a grater, finely grate the zucchini. Squeeze the extra zucchini juice with your hands. Discard the zucchini juice. Press the grated zuchini into a measuring cup until it reach 1 cup.
- Set aside into a mixing bowl. Add eggs and combine with the dry ingredients: arrowroot flour, coconut flour, oregano, salt and pepper. It will form a batter not too moist. If too moist - i could happen if you did not squeeze out the zucchini water very well- add an extra tablespoon of coconut four to absorb.
- Using a mechanical ice cream scoop maker. Scoop some zucchini tortilla batter.and scoop out onto the baking paper.
- Using your finger press the batter until thin and shape a round tortilla. It should not be thicker than 0.2 mm.
- Repeat until you scoop all the batter. The recipe makes about 6 tortilla 10 cm diameter.
- Bake for 20-30 minutes or until the tortilla gets brown on the side and hold together.
- Cool down on a rack to keep them moist.
- Eat hot or cold.
Recipe Notes
Egg free/vegan note:
I recommend to use 1 tbsp. flax seed meal (ground flax seed) with 2 tbsp water to replace egg in this tortilla recipe. Add the flax seed meal and water into a small mixing bowl. Stir to combine and let rest for 5 minutes to thicken. Add to the tortilla recipe in place of the egg.
Filling:
You can fill those zucchini tortillas with any wet or dry filling of your choice like roasted vegetables, grilled chicken, greens, spinach, avocado, grated carrots, nuts or seeds etc.
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