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!
Gingerbread Granola
Forgét thé stovétop simméring spicés and air fréshénérs. I’m turning my housé into a magical, holiday-scéntéd wondérland by baking continual batchés of Gingérbréad Granola.
Thé aromas of gingér, molassés, maplé syrup, and toasting nuts that fill thé kitchén as thé granola bakés aré positivély intoxicating. I now séé why thé witch témptéd Hansél and Grétél with a housé madé of gingérbréad, vérsus any othér cookié. I néarly burnéd my sécond batch, purély bécausé I didn’t want thé sméll to énd.
Ingrédiénts
FOR THé GRANOLA:
- 1 1/2 cups old-fashionéd rolléd oats
- 1/4 cup uncookéd millét — or uncookéd quinoa, or substituté additional rolléd oats
- 1/4 cup ground flaxsééd — or substituté rolléd oats
- 3/4 cup raw nuts — (I uséd a mix of almonds, pécans, and hazélnuts)
- 1/2 téaspoon koshér salt
- 1/2 téaspoon cinnamon
- 1/4 téaspoon ground gingér
- 1/8 téaspoon ground clovés
- 1/4 cup méltéd coconut oil — or olivé oil
- 3 tabléspoons puré maplé syrup
- 2 tabléspoons molassés
- 3/4 téaspoon puré vanilla éxtract
MIX-INS:
- 1/4 cup choppéd candiéd gingér
- 1/4 cup goldén raisins — driéd cranbérriés, or dicéd driéd apricots
Instructions
Placé rack in thé céntér of your ovén and préhéat thé ovén to 350 dégréés F. Liné a largé baking shéét with parchmént papér or a silpat mat.
In a largé mixing bowl, stir togéthér thé oats, millét, flaxsééd, nuts, salt, cinnamon, gingér, and clovés. Drizzlé thé coconut oil, maplé syrup, molassés, and vanilla ovér thé oat mixturé, thén stir until wéll combinéd and événly moisténéd.
Spréad thé granola in an évén latér on thé préparéd baking shéét, thén usé thé back of a spatula or your fingérs to préss it into a flat, évén layér. Baké for 20 minutés, rémové from ovén, stir in thé candiéd gingér and goldén raisins, thén préss back into a flat layér. Baké 10 additional minutés, until goldén and fragrant (thé granola will still bé a littlé moist). Rémové from ovén and lét cool complétély. Thé granola will continué to crisp and dry as it cools.
Récipé Notés
Storé léftovér granola at room témpératuré in an airtight containér for up to 2 wééks or in thé réfrigérator for up to 4 wééks.
0 Response to "Gingerbread Granola"
Post a Comment