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!

Baked Crack Chicken Breasts



Baked Crack Chicken Breasts, also referred to as Ranch Chicken with Bacon, is a delicious and creamy dish loaded with cheese and bacon.

Ingredients

4 slices thick cut bacon, diced
FOR THE CHICKEN
1 tablespoon vegetable oil
1 tablespoon butter
4 (1-pound, total) boneless, skinless chicken breasts, pounded to 1/4-inch thickness
salt and fresh ground pepper, to taste
1/2 teaspoon garlic powder
1/2 teaspoon smoked or sweet paprika
FOR THE RANCH CREAM CHEESE
4- ounces cream cheese, softened
1/4 teaspoon garlic powder
1/4 teaspoon onion powder
1/4 teaspoon dried dill weed
1/2 teaspoon dried chives
4 ounces shredded cheddar cheese, white or yellow - I use a little of both
FOR GARNISH
chopped fresh parsley
sliced green scallions

Instructions

Preheat oven to 400F.
Lightly grease a 9x13 baking dish with cooking spray and set aside.
Set a large skillet over medium-high heat and add in diced bacon; cook until crispy.
Remove bacon from skillet and set aside. DON'T discard bacon fat.
Return skillet to heat and add vegetable oil to the remaining bacon fat.
Pound chicken breasts to a 1/4-inch thickness and season with salt, pepper, garlic powder, and paprika.


Add chicken breasts to the hot oil - you may have to do this in batches if skillet isn't big enough - and cook chicken breasts for 2 to 3 minutes, or until golden brown.
Flip over the chicken breasts, add butter, and continue to cook for 3 more minutes.
Remove chicken breasts from skillet and arrange in previously prepared baking dish. Set aside.


In a small bowl combine cream cheese, garlic powder, onion powder, dill weed, and chives; mix until thoroughly combined. Taste for seasonings and adjust accordingly. *You can also just stir in 1 tablespoon of store-bought ranch seasoning.


Top each chicken breast with 2 tablespoons of the cream cheese mixture. Spread to coat the surface of each chicken breast.
Take half of the bacon and add on top of the cream cheese.
Sprinkle shredded cheese over the chicken breasts.
Bake, uncovered, for 15 minutes, or until chicken is cooked through and cheese is melted and lightly browned.
Remove from oven.
Garnish with remaining bacon, fresh parsley, and scallions.
Serve.

BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER