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!


Grilled Berry Feta Chicken Salad is loaded with fresh summer berries, bacon chipotle seasoned grilled chicken and topped with a sweet chipotle dressing! You will be craving this mouthwatering salad all summer long!


1/2 tablespoon olive oil
1/4 cup finely diced onion
1 teaspoon minced garlic
1 teaspoon chipotle chiles in adobo finely chopped
2 cups fresh raspberries
1/4 cup raspberry vinegar
1/3 cup white sugar
1/4 teaspoon salt

3 large chicken breasts
McCormick Bacon Chipotle Seasoning Mix

6-7 ounces (about 6-7 cups) mixed greens lettuce
2 cups sliced strawberries sliced
1 cup fresh raspberries
1/2 cup blueberries
1/2 cup blackberries
8-10 slices center cut bacon cooked and crumbled
4 ounces crumbled feta cheese


Start by preparing the dressing. Heat up the oil over medium-high heat. Add the onions and cook until soft, about 4 minutes. Add garlic and saute for another minute. Add chipotles and cook, stirring constantly, for 1 minute. Add the raspberries and cook until soft, about 3 minutes. Add the vinegar and stir. Add the sugar and salt and bring to a boil.
Reduce the heat to medium and simmer until thickened and reduced by half, about 10 minutes. Remove from the heat and allow to cool entirely.
For the chicken, preheat the grill to high heat (or a skillet to medium-high). Oil the grill grates. Slice the chicken breasts in half horizontally, pat dry with paper towel, and then sprinkle the seasoning mix generously onto the breasts. Rub the mix all over the chicken making sure it is completely covered. Grill the chicken 5-8 minutes per side or until the chicken registers 160 degrees Remove from the heat and let stand for 5 minutes. Slice into strips.
In a large bowl, toss together the lettuce, sliced strawberries, raspberries, blueberries, blackberries, crumbled cooked bacon, and feta cheese. Add the chicken strips.
Toss to coat with the dressing and enjoy immediately!
Do not toss the salad with dressing until right ready to eat.


Halaman Berikutnya

Subscribe to receive free email updates: