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!
NEW ENGLAND CLAM CHOWDER
Wonderfully creamy New England Clam Chowder is way easier than you think to make at home and about to become a new family favorite!
It’s loaded with tender clams, creamy potatoes and salty, smoky bacon in a rich flavor bursting broth!
This cravilicious white creamy chowder is bursting with delectable clams, tender potatoes, and salty bacon.
Seeing as San Diego is on the opposite side of the Unites States from New England and fresh clams can be hard to come by or very expensive, I’ve chosen to make this clam chowder with minced canned clams – and I couldn’t taste a difference!
In fact, many reputable restaurants use canned clams with the addition of clam juice. You will be shocked how restaurant-quality delicious this version tastes and canned clams make it that much easier!
Wonderfully creamy New England Clam Chowder is way easier than you think to make at home and about to become a new family favorite!
INGREDIENTS:
- 3 (6.5 oz.) cans chopped/minced clams in clam juice
- 1 (8 oz.) bottle clam juice
- 6 thick center-cut bacon strips, chopped
- 1 tablespoon butter
- 2 stalks celery, finely chopped
- 1 large onion, chopped
- 1 1/4 pounds (3 1/2 cups) Russet potatoes, peeled and diced into 1/4-1/2” cubes
- 3-5 garlic cloves, minced
- 1/4 teaspoon red pepper flakes (optional)
- 1/3 cup all-purpose flour
- 2 cups low sodium chicken broth
- 2 teaspoons chicken bouillon
- 2 bay leaves
- 1/2 tsp EACH dried parsley, dried oregano, salt
- 1/4 tsp EACH dried thyme, pepper
- 1 cup heavy cream
GARNISHES (OPTIONAL)
- Oyster crackers
- Fresh parsley
DIRECTIONS:
- Drain clam juice from cans into a measuring cup. Add enough bottled clam juice to equal 2 1/2 cups. Set aside.
- In a Dutch oven, cook bacon over medium heat until fat is rendered and slightly brown. Remove half of the bacon with a slotted spoon to a paper towel lined plate. To the remaining bacon and drippings, melt in 1 tablespoon butter over medium heat.
- Increase heat to medium high and add celery and onion. Saute for 5-7 minutes or until onions are soft. Add potatoes, garlic, red pepper flakes (if using) and sauté 30 seconds. Sprinkle in flour and cook an additional 1 minute. Stir in chicken broth, reserved 2 ½ cups clam juice, chicken bouillon, bay leaves and all seasonings. Bring to a boil then reduce to a simmer. Simmer, uncovered, for 15-20 minutes or until potatoes are very tender.
- Stir in heavy cream and bring to a simmer to heat through. Discard bay leaves. Remove from heat and stir in clams. Taste and add salt/pepper to taste. (You may or may not need additional salt depending on how salty your clams and bacon are.) For a thinner or less chunky soup stir in additional heavy cream/milk or chicken broth.
- Top individual servings with reserved bacon and oyster crackers and fresh parsley if desired.
0 Response to "NEW ENGLAND CLAM CHOWDER"
Posting Komentar