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!
Broccoli Cauliflower Brussels Sprout Gratin
This lusciously cheesy Broccoli Cauliflower Brussels Sprout Gratin isn't your average casserole. Ditch the canned cream-of-craziness, grab some veggies, and meet me in the kitchen!
Ingredients
- 1 lb cauliflower florets
- 8 oz broccoli
- 8 oz brussels sprouts, quartered
- 2 cups onion (white or yellow)
- 1 tsp olive oil or butter
- 1/4 cup butter
- 1/4 cup flour
- 1/2 cup heavy cream, room temperature
- 1 cup milk, room temperature
- 4 oz gruyere cheese, grated
- 4 oz gouda cheese, grated
- 1/4 tsp salt
- black pepper, to taste
- 1/4-1/2 cup Italian-seasoned breadcrumbs
- 1-2 TBSP butter
Instructions
- Pre-heat oven to 350 degrees F.
- Chop your veggies.
- Bring a pot of water to boil and blanch broccoli, cauliflower, and brussels sprouts until the broccoli turns vibrantly green and all three veggies are somewhere between al-dente and fork-tender. This will take a few minutes, but no longer than 8. When your perfect texture is reached, shock the veggies in an ice bath (more info here) to halt the cooking process. No mushy veggies here! Alternatively if you'd prefer softer veggies, feel free to let them cook a smidge longer and/or skip the ice bath.
- Place veggies in a casserole dish and set aside.
- Drizzle a medium pot (one deep enough to make your cheese sauce in) with a little bit of olive oil or butter and caramelize your onions, stirring occasionally. Continue cooking until onions are golden brown and tender.
- Turn your burner to medium-low heat and add 1/4 cup (4 TBSP) butter.
- Once your butter has melted, slowly mix in flour a tablespoon at a time, whisking the mixture together as you go.
- Once your roux has begun to form a paste with the onions, add room temperature (or slightly warmed) milk and cream, whisking constantly until the sauce thickens.
- Remove your pot from heat (it will begin to thicken even further at this part) and slowly add 1/2 the cheese.
- Right about now you'll want to dive in face first with a crusty baguette. I'll look the other way if you do, but try to save the sauce for the veggies, will ya!?
- Pour sauce over veggies, then top with the cheese you set aside earlier.
- Next melt 1 TBSP of butter in a small skillet and add breadcrumbs. Mix constantly while toasting, then sprinkle over casserole.
- Bake on center rack at 350 for 20 mins.
- Prepare to swoon.
Notes
This recipe feeds a small army, making it the perfect side dish for a family gatherings or potluck parties with friends or co-workers.
Keeping thing small scale? Don't fret! For a smaller serving, the recipe is easily halved.
0 Response to "Broccoli Cauliflower Brussels Sprout Gratin"
Posting Komentar