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!
Pumpkin Waffle Recipe
I’m pretty sure I could incorporate pumpkin into every one of my breakfast recipes from now until spring and be happy. This pumpkin waffle recipe is my new favorite. I adapted it from the Pumpkin Cinnamon Roll Pancakes I shared last fall, and could not be more thrilled with the results. These pumpkin waffles are perfect for fall, and my whole family went crazy over them. They are crispy on the outside, and tender and fluffy on the inside.
Let’s get started making pumpkin waffles:
Start by whipping egg whites in a stand mixer with whisk attachment until stiff peaks form. Set egg whites aside.
In a large bowl, combine dry ingrdients. In a smaller bowl, combine pumpkin, melted butter, apple cider vinegar, egg yolk, and milk.
Add wet ingredients to dry ingredients and stir just until combined.
Ingredients
- 2 cups of all-pupose flour
- 3 tablespoons of firmly packed dark brown sugar
- 2 teaspoons of baking powder
- 1 teaspoon of baking soda
- 1 teaspoon of cinnamon or pumpkin pie spice
- 1/2 teaspoon of kosher salt
- 1 1/2 cups of milk
- 1 cup of canned 100% pure pumpkin
- 1 egg yolk plus 3 egg whites
- 4 tablespoons of melted cooled butter
- 2 tablespoons of apple cider vinegar
Instructions
- In the bowl of a stand mixer, whip 3 egg whites until stiff peaks form. Set aside.
- Combine dry ingredients in a large mixing bowl and whisk together.
- Combine milk, pumpkin, butter, egg yolk and vinegar in a small bowl and stir to combine.
- Add pumpkin mixture to dry ingredients and stir to combine.
- Gently fold in egg whites.
- Use batter immediately in waffle maker.
0 Response to "Pumpkin Waffle Recipe"
Posting Komentar