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!
Creamy salmon fettuccine recipe
Add seafood to your lineup of Sunday dinner dishes. This creamy pasta recipe is easy to make and makes a big impression on diners.
Aside from the fab flavor, the thing you'll appreciate most about the creamy sauce is that it only takes about five minutes to make. That means very little effort is involved, and the payoff is big. Salmon brings added heartiness and color to this rich dish. Although it's a lovely meal to serve for a special occasion, I suggest you consider it for any Sunday dinner.
Ingredients:
- 2 (6 ounce) salmon fillets, cooked or grilled, then flaked with a fork
- 8 ounces fettuccine pasta
- 2 tablespoons butter
- 1-1/2 cups heavy cream
- 1/4 cup grated Parmesan cheese, plus extra as garnish
- 2 green onions, white and green parts, diced
- 2 tablespoons fresh parsley, torn
- Ground black pepper
Directions:
- Cook the pasta according to the package directions. When finished, drain it and return it to the pot.
- About 5 minutes before the fettuccine has finished cooking, add the butter to a saucepan over medium heat. Add the cream and cook it until it bubbles just slightly, for 3-4 minutes. Add the Parmesan cheese and stir. Remove it from the heat.
- Add the fettuccine to a large bowl along with the green onions, parsley and salmon pieces. Pour the cream over the fettuccine and toss to coat all the ingredients.
- Season with a bit of ground black pepper and extra Parmesan cheese as garnish.
- Serve warm.
0 Response to "Creamy salmon fettuccine recipe"
Posting Komentar