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!
EASY MOROCCAN LAMB STEW RECIPE
Moroccan-spiced lamb, cooked to tender perfection with carrots, chickpeas and dried apricots. Braising and slow cooker instructions included.
INGREDIENTS
- Private Reserve Greek Extra Virgin Olive Oil
- 1 large yellow onion, chopped
- 3 carrots, cubed
- 6 Yukon gold potatoes (or any small potatoes), peeled, cubed
- 2.5 lb boneless leg of American lamb, fat trimmed, cut into cubes (Or American lamb shoulder, bones removed, fat-trimmed)
- 3 large garlic cloves, roughly chopped
- ½ cup dried apricots
- 1 cinnamon stick
- 1 bay leaf
- 1 ½ tsp ground allspice
- 1 tsp ras el hanout (Moroccan spice blend)
- ½ tsp ground ginger
- 6 plum tomatoes from a can, cut in halves
- 2 ½ cups low-sodium beef broth
- 1 15-oz can chickpeas
Directions :
- In a large Dutch oven or heavy oven-safe pot, heat 2 tbsp olive oil over medium heat until shimmering but not smoking.
- In the heated oil, saute the onions, carrots, and potatoes for 4 minutes or so. Add the garlic and season with salt and pepper. Remove from the pot and set aside briefly.
- In the same pot, add more oil if needed, and deeply brown the lamb on all sides. Season with salt and pepper.
- Turn heat to medium-high and return the sauteed vegetables to the pot. Add the dried apricots, cinnamon stick, bay leaf and spices and stir to coat.
- Add the plum tomatoes and broth and bring everything to a boil for 5 minutes or so.
- Cover the pot and place in the 350 degrees F heated-oven for 1 ½ hours (check partway through to add water or broth if needed). Now stir in the chickpeas, cover and return to the oven for another 30 minutes.
- Remove from the oven and serve hot with your choice of Lebanese rice, couscous, pita bread or your favorite rustic bread.
- A simple Mediterranean salad like Fattoush makes a great starter for this hearty meal. Enjoy!
NOTES
Slow-Cooker Instructions
If you prefer, after step #5 is completed, transfer the lamb stew to a large slow cooker insert. Cover and cook on high for 3 to 4 hours, or on low for 5 to 6 hours.
0 Response to "EASY MOROCCAN LAMB STEW RECIPE"
Posting Komentar