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!
Salami and Cream Cheese Roll-ups
My favorite late night indulgence is salami and cream cheese on crackers. Salty cured sausage, sweet creamy cheese, crisp buttery crackers, served with a refreshing chilled beverage...doesn't get much better than that! However there are a few problems translating this delicious little snack into the ideal appetizer for a crowd. The traditional method of applying cream cheese to the cracker and adding a piece of salami results in a soggy cracker if left in the refrigerator for any length of time.
The sodden cracker was the most important hurdle to overcome, but then came the painstaking effort and endless trials I had to put myself and the family through to get the salami to cheese ratio just right. Somehow we endured and these addictive little roll-ups have solved all the problems inherent to serving these tasty tidbits to guests, as a bonus they came out rather beautiful in the process. Feel free to add additional ingredients to/instead of the green pepper, such as jalapeno, shredded cheddar, thinly sliced swiss, or hot pepper cheese depending on your mood.
INGREDIENTS:
- 1 pound cream cheese, room temperature
- 1/2 -3/4 pounds salami sliced thin (thinner is better as it rolls easier)
- 1/2 green pepper, thinly sliced
INTRUCTIONS:
- Lay out a large piece of plastic wrap on the work surface. Place the cream cheese on top of the plastic wrap and cover with another piece of wrap the same size. With a rolling pin roll the cream cheese out into an even layer, approximately 1/4-inch thick. Watch the edges of the cream cheese as it rolls out because the top wrap can work its way under the cheese. To avoid this, occasionally pull the wrap off and replace it to continue rolling the cheese into a rectangle.
- Remove the top layer of plastic wrap and add the salami, overlapping the slices until all the cream cheese is covered, lightly press the salami into the cream cheese to make it stick. Replace the plastic wrap and carefully flip the salami and cheese so that the cream cheese is again on top. Remove the wrap and place the sliced green peppers over the cheese.
- Roll the salami over the cream cheese being careful not to leave any air space (this make it harder to cut later) and use the plastic wrap to pull it tight as you work. Roll the meat log and press the outer layers tight to hold it all together. Wrap the log in plastic wrap and refrigerate 4-6 hours or overnight (it can be cut without chilling, but the longer it chills the easier it is to cut.) Cut the meat slices thin, taste one on a cracker, as large crackers may need a thicker slice, while smaller crackers will need one cut thinner. Enjoy with your favorite beverage.
0 Response to "Salami and Cream Cheese Roll-ups"
Posting Komentar