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!
Dublin Coddle Recipe
An easy to make delicious and hearty traditional Irish winter stew with potatoes, sausages, and bacon.
Dublin Coddle Recipe - An easy to make delicious and hearty traditional Irish winter stew with potatoes, sausages, and bacon.
Hello thare Monday! Today’s meat and potatoes is brought to you by the Irish! Easy, real food, homemade, comforting stew.
By the way, hope your week is off to a great start! Mondays are so hard, especially when the clock moves 1 hour forward. Ugh…
Truth? I feel so sleepy right now. Like, jet lagged or somethin’. WELP!
I can’t even remember how I got through getting the little ones ready for school this morning… I was half-asleep.
…which might also have something to do with binge watching The People v. O.J. Simpson, last night. 😏 At least I’m caught up! (AND hooked!)
An easy to make delicious and hearty traditional Irish winter stew with potatoes, sausages, and bacon.
Ingredients
- 3 cups low sodium beef broth*
- 1 pound smoked sausages , cut into thin rounds**
- 1/2- pound thick-sliced good quality smoked bacon , chopped into cubes***
- 2 pounds russet potatoes (about 6 potatoes), peeled and sliced into 1/2-inch thick rounds
- 2 yellow onions , sliced into thin rounds
- 3 large carrots , sliced into thin rounds (about 1-1/2 cups of carrot rounds)
- salt and fresh ground pepper to taste
- 2 tablespoons chopped fresh parsley
Instructions
- Preheat oven to 425F.
- In a large saucepan, combine beef broth, sliced sausages, and bacon; bring to a boil.
- Reduce heat to low and simmer for 10 minutes.
- Transfer sausages and bacon to a bowl and reserve the broth.
- Lightly grease a dutch oven or casserole dish with cooking spray.
- Spread one-third of the potatoes on the bottom of the casserole dish.
- Arrange 1/3 of the onions and carrots over the potatoes, and season with a little salt and pepper.
- Spread a layer of the previously prepared sausages and bacon over the layer of onions.
- Continue to layer ingredients two more times, seasoning with salt and pepper as you go along.
- Pour the reserved broth over the entire dish.
- Cover with a lid and bake in the oven for 40 minutes.
- Remove cover and if mixture looks dry, add 1/2-cup water. Continue to bake for 15 minutes, or until lightly browned on top.
- Remove from oven and let stand 5 minutes.
- Ladle into bowls and garnish with fresh parsley.
- Serve.
Recipe Notes
This is a traditional recipe for Dublin Coddle, but you can go ahead and substitute most of the ingredients with healthier alternatives;
*Use low sodium vegetable broth in place of the beef broth
**Use turkey sausages
***Use turkey bacon
0 Response to "Dublin Coddle Recipe"
Posting Komentar