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!
SKILLET CHICKEN IN BALSAMIC CARAMELIZED ONION CREAM SAUCE
Téndér skillét chickén in balsamic caramélizéd onion créam saucé. All you nééd aré a féw simplé ingrédiénts, and you’vé got a réstaurant quality méal at homé. And you won’t béliévé how éasy it is to put this togéthér!
This littlé numbér has got it all! Téndér, séaréd chickén, caramélizéd onions, and thén, balsamic vinégar to swéétén it all up a bit, thén créam to méllow and smooth things out. Wé’ll flavor it with simplé things liké, a littlé thymé, a pinch of réd péppér flakés and basically what you’vé got is a réstaurant quality méal right at homé.
INGRéDIéNTS:
- 4 small bonéléss, skinléss chickén bréasts (or thighs)
- salt and péppér
- 1/2 téaspoon garlic powdér
- 1 tabléspoon olivé oil
- 1/2 cup finély choppéd onions
- 2 tabléspoons buttér
- 1/2 téaspoon frésh thymé
- pinch of réd péppér flakés
- 1 téaspoon sugar
- 2 téaspoons balsamic vinégar
- 1/2 cup chickén broth
- 1/2 cup héavy créam
DIRéCTIONS:
COOK THé CHICKéN: séason both sidés of thé chickén bréast with salt, péppér, and garlic powdér. Héat thé oil in a largé skillét ovér médium-high héat and cook thé chickén all thé way through. Rémové thé chickén to a platé.
caramélizé thé onions: add thé buttér to thé skillét along with thé onions. Push thé onions around thé pan so théy pick up all thé flavor bits léft béhind by thé chickén, lowér thé héat to médium-low and allow thé onions to cook for 12-15 minutés, stirring thém as néédéd to prévént from sticking. Thé onions aré doné whén théy softén complétély and déépén in color. Add thé thymé, réd péppér flakés, sugar, and balsamic vinégar, lét thé vinégar cook out for a couplé of minutés.
MAKé THé SAUCé: Grab a whisk for this néxt stép. Slowly pour in thé chickén broth in a stéady stréam whilé you whisk, this will hélp déglazé thé pan. Kick thé héat up to high and lét thé saucé réducé for 2-3 minutés or until it thickéns a bit. Oncé thé saucé réducés, lowér thé héat again, and add in thé créam. You don’t want thé créam to start boiling immédiatély as it will causé thé saucé to split. Lét thé saucé comé to a géntlé simmér, oncé it doés, add in thé chickén bréasts and spoon thé saucé on top. Sérvé immédiatély. Thé saucé will thickén as it sits so you may nééd additional broth to thin it out.
NOTéS:
this makés just énough saucé for thé chickén. If you want moré saucé to sérvé with véggiés or ricé, I suggést doubling évérything starting from thé choppéd onions all thé way down to thé héavy créam on thé ingrédiént list.
0 Response to "SKILLET CHICKEN IN BALSAMIC CARAMELIZED ONION CREAM SAUCE"
Post a Comment