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!

Classic Round Steak & Gravy




This recipe will feed a family of four. You can double the meat without having to adjust the onion and gravy. Here is what you will need to make this recipe, :

Ingredients
4 to 6 slices of Round Steak
2 Pouches of Onion Gravy
2 C of Hot Water
1 Medium Yellow Onion, Sliced
3 Cloves of Garlic, Peeled and Smashed
2 T of Butter

Again, I made this in my Instant Pot, I will add adjustments for a crock or an oven in the steps.

Steps
Use a skillet and 1 T of butter to sear off both sides of your round steak. I only cooked these on each side for 2 to 3 minutes.
In your Instant Pot, sauté the onions and the garlic in 1 T of Butter.
Add the slices of meat to the pot.
Add the two pouches of the gravy to 2 C of hot water and dissolve.
Pour over the meat and onions.
Set your Instant Pot to the meat setting and cook on high pressure for 20 minutes.
Release the steam and you are ready to serve.

This recipe is best served on top of creamy mashed potatoes and with buttery corn. You can also use rice or egg noodles. But in my opinion, the gravy needs to be with mashed potatoes. If you want to make this recipe in your crock pot, sear the meat in the skillet, and brown the onions and mushrooms in the same skillet and add the gravy mix to your crock and cook on low 8 to 10 hours. Remember to keep the lid on your crock or it will take longer. If you are making this in the oven, do the same steps as the crock, but place the meat, onions and gravy in a casserole dish, cover with foil and bake at 350 degrees for 2.5 hours. You can also add mushrooms to this recipe if you like. Another option is to add in one can of Cream of Mushroom Soup to make it a creamy gravy. I have loved this recipe since I was a kid and I hope you do too!


BERITA LENGKAP DI HALAMAN BERIKUTNYA

Halaman Berikutnya

Subscribe to receive free email updates:

ARTIKEL POPULER