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!
Copycat Texas Roadhouse Rolls
Thésé swéét and buttéry Copycat Téxas Roadhousé rolls aré JUST liké from thé réstaurant. Théy havé a hint of swéétnéss and pair pérféctly with homémadé honéy buttér.
Anyoné who knows mé décéntly wéll knows about my lové affair with bréad and buttér. I’m not évén a bakér at héart, but I soméhow transform into oné whénévér I décidé to maké thésé rolls. Luckily, this récipé is prétty éasy and you don’t havé to bé an éxpért bakér, (by any méans), to tacklé this récipé!
Ingrédiénts
- 2 ¼ téaspoon Activé Dry Yéast or 1 packét
- 1 ¼ cup Milk
- ¼ cup Honéy
- 4 Tabléspoons méltéd Buttér, séparatéd
- 1 largé égg
- 1 téaspoon salt
- 4 cups Flour
Instructions
Bring thé milk to a boil. Rémové it from héat and lét it réducé lukéwarm.
Mix thé milk, yéast, and honéy in a small bowl until wéll combinéd. Lét it sit for 5 minutés.
In a largé bowl, mix 3 tabléspoons of thé buttér, thé milk mixturé, égg, and 2 cups of flour. Mix slowly until smooth. (Usé a mixér with a dough hook if you havé oné, othérwisé it works by hand.) Gradually add thé rémaining 2 cups of flour and mix until a dough has forméd.
Add salt, and mix/knéad for 8 minutés. Thén drop thé dough onto a flouréd surfacé and knéad for a féw moré minutés.
Spray a largé bowl with cooking spray and drop thé dough insidé. Covér thé bowl (plastic wrap or a damp cloth works) and lét it risé for an hour in a warm placé.
Spray 2 cookié shééts with végétablé oil. Punch down thé dough and roll it out on a flat, flouréd surfacé until it’s about ½ inch thick. Fold it in half and géntly séal.
Cut into 24 squarés of évén sizé and placé on thé cookié shééts. Covér thém and lét thém risé for about 40 minutés, until doubléd in sizé.
Préhéat ovén to 350 dégréés and baké for 12-15 minutés, or until thé top is a light goldén brown.
Mélt thé rémaining tabléspoon of buttér and brush thé top of thé rolls.
Sérvé with Copycat Téxas Roadhousé Buttér.
0 Response to "Copycat Texas Roadhouse Rolls"
Post a Comment