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!
Slow Cooker Tex-Mex Chicken Stew
Slow Cooker Tex-Mex Chicken Stew
It’s so easy to prepare this delicious Slow Cooker Tex-Mex Chicken Stew! Just pour the ingredients into your slow cooker and turn it on to cook!
Slow Cooker Tex-Mex Chicken Stew
Author: A Family Feast
Prep Time: 15 minutes
Cook Time: 8 hours
Total Time: 8 hours 15 minutes
Yield: 6-8 servings
Category: Soup
Method: slow cooker
Cuisine: Tex-Mex
INGREDIENTS
- 1 12-ounce bag frozen chopped onions
- 2 tablespoons chopped garlic
- 1 tablespoon tomato paste
- ¼ teaspoon freshly ground black pepper
- 1 tablespoon chili powder
- 1 tablespoon brown sugar
- 1 14.5-ounce can tomatoes, diced with zesty jalapenos or green chiles
- 2 15.5-ounce cans BUSH’S® Chili Magic® Chili Starter Texas Recipe
- 1 14.5-ounce can chicken stock
- 2 tablespoons unsalted butter, softened
- 3 tablespoons all-purpose flour
- 2 ½ pounds boneless skinless chicken thighs left whole
- 2 well-drained 11-ounce cans corn, Mexican-style with red and green peppers
- 4 ounces cream cheese, softened
- 1 small can jalapeno wheels, for garnish (optional)
- Sour cream, for garnish (optional)
INSTRUCTIONS
- Place onions, garlic, tomato paste, pepper, chili powder, brown sugar, canned tomatoes, Bush’s Chili Starter, and chicken stock in a large slow cooker. Stir to mix ingredients.
- Mix soft butter with flour in a small bowl to form a paste and stir into slow cooker. (It will dissolve once the ingredients get hot).
- Tuck chicken thighs down into liquid so that they are totally submerged. Cover and cook on low for seven hours.
- After seven hours, remove chicken to a plate or bowl. Add corn to cooker and raise heat to high.
- Shred chicken with two forks and add back to cooker along with cream cheese. Stir and heat on high until the cream cheese has melted and all ingredients are at serving temperature.
- Serve in bowls and garnish with the jalapeno wheels and sour cream if desired.
0 Response to "Slow Cooker Tex-Mex Chicken Stew"
Posting Komentar