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!
spicy white cheddar beer cheese soup
I’ve been dying to make beer cheese soup this year, and I’m SO glad it finally happened! Especially because I’ve added a twist to this favorite comfort food, and made it into a spicy white cheddar beer cheese soup. 🙂
this creamy, decadent, spicy beer cheese soup is made with extra sharp white cheddar and american lager. spicy white cheddar beer cheese soup is the perfect comfort food served in a bread bowl!
Ingredients
- 4 Tbsp. unsalted butter
- 1/2 cup celery, chopped
- 1/3 cup carrot, finely chopped
- 1 cup white onion, chopped
- 1 Tbsp. garlic, chopped
- 1 Tbsp. jalapeno, chopped (remove seeds)
- 1/4 cup all-purpose flour
- 1 cup of light beer (a light lager is preferable)
- 1 cup chicken stock
- 1 bay leaf
- 1/2 Tbsp. black peppercorns, whole
- 1/2 Tbsp. caraway seeds (toasted if possible)
- small handful of fresh thyme sprigs
- 1/2 cup milk, room temperature
- 1/2 cup half and half, room temperature
- 2 1/2 cups of white cheddar cheese, shredded (adjust this to your liking!)
- salt and pepper to taste
- 2 (large) or 4 (small) bread bowls
- chives and chopped bacon, for garnish
Instructions
- In a deep pot over medium heat, melt the butter. Add celery, carrot, onion, garlic, and jalapeño. Cook until veggies become very tender, about 20 minutes.
- Add flour, and stir continuously to avoid browning. Let the veggies and flour cook for a few minutes, as this will alleviate the "flour" taste from occurring in the soup. The consistency of the veggies and flour together should feel similar to a vegetable "paste" as you stir it.
- Slowly add the beer, while still stirring continuously. Then, slowly whisk in the chicken stock. Add the bay leaf, black peppercorns, caraway seeds, and fresh thyme.
- Simmer for 30 minutes.
- Add the room temperature milk and half and half, then stir to blend everything together, and bring to a quick boil. As soon as the soup starts to boil, immediately turn the heat back down to a simmer, and allow it to simmer for another ten minutes.
- Whisk in cheese, and check to be sure consistency is to your liking. Add more stock if it seems too thick.
- Strain entire contents into another large pot, and add salt and pepper to taste.
- Serve in a bread bowls, garnish as you please, and enjoy!
Notes
This will make two big bowls of soup, or four smaller ones - just as a note! 🙂
By sara rose : a flavor journal.
Wordpress Recipe Plugin by Recipe Card
0 Response to "spicy white cheddar beer cheese soup"
Posting Komentar