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!
SAUSAGE & CHICKEN CAJUN JAMBALAYA | GLUTEN-FREE
Sausage & Chicken Cajun Jambalaya has all of the flavors of an authentic jambalaya recipe. This sausage jambalaya comes together easily in one pot, is gluten-free and dairy-free for a simple and healthier Cajun dinner recipe.
Ingredients
- 2 Tbsp oil divided
- 1.5 lbs chicken cut into ½-inch pieces
- 12 oz andouille sausage cut into ½-inch slices
- 1 ½ tsp salt divided
- ¾ tsp pepper divided
- 2 c onion finely chopped
- 1 c celery finely chopped
- 1 c bell pepper finely chopped
- 2 cloves garlic
- 1 tsp thyme dried
- 1 tsp basil dried
- ¼ tsp cayenne pepper
- 1 Tbsp Worcestershire sauce gluten free
- 1 6-oz can tomato paste
- 1 14.5-oz can diced tomatoes with juice
- 2 ½ c long grain white rice rinsed and drained
- 4 ½ - 5 c chicken broth
- Fresh parsley finely chopped
Instructions
- In a large pot, or Dutch oven, add 1 tablespoon oil, sausage, ½ tsp salt and ¼ tsp pepper. Cook for 2 minutes.
- Add chicken and continue cooking over medium heat for 8-10 minutes, or until chicken is cooked through.
- Remove sausage and chicken from the pot and set aside.
- Drizzle another tablespoon of olive oil into the Dutch oven and then add onion, celery and bell pepper. Cook for 6-8 minutes, or until vegetables are almost tender. Add garlic and saute for an additional 2 minutes.
- Place chicken and sausage back into the pot.
- In a small bowl combine remaining 1 teaspoon salt, ½ tsp pepper, thyme, basil and cayenne pepper. Toss to combine.
- Add seasoning mix, Worcestershire, tomato paste, and diced tomatoes to the meat and veggies. Stir to combine.
- Next, place rice and 4 ½ cup broth in the pot. Stir to completely combine. Over medium heat, wait for the ingredients to come to a boil. Reduce heat to low, cover with a lid, and let jambalaya simmer for 30-40 minutes.
- Check on the jambalaya at 25 minutes and see if it needs additional liquid. If you have a pot that burns, this would be a good time to give the bottom of your pot a stir to loosen up any potentially dried rice.
- Once rice is completely cooked, serve immediately with fresh parsley and enjoy!
0 Response to "SAUSAGE & CHICKEN CAJUN JAMBALAYA | GLUTEN-FREE"
Posting Komentar