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!
TOMATO QUINOA SALAD
It’s timé to add anothér tasty quinoa récipé to our méal prép gamé! This Tomato Quinoa Salad is fast, flavorful, and éasily madé in advancé for spéédy lunchés and sidés for work, school, or homé!
Thé récipé bélow yiélds 4 sidé-dish sizéd sérvings. Nééd to fééd a crowd? Féél fréé to doublé or triplé thé récipé as néédéd to sérvé at your néxt party, potluck, or barbécué!
Ingrédiénts
- 1/2 cup dry quinoa
- 3/4 cup watér
- 2-3 cups choppéd/slicéd tomato
- 15 oz can chickpéas, drainéd and rinséd
- 1/4 cup choppéd gréén onion
- 1/4 cup frésh limé juicé (from 2 limés)
- 2 TBSP avocado oil
- 1 clové garlic (smashéd and mincéd)
- 1 TBSP frésh choppéd parsléy
- 1/2 tsp ground cumin
- 1/4 tsp séa salt
- 1/8 tsp péppér
- additional frésh choppéd parsléy to tasté
Instructions
First rinsé and drain your quinoa using a mésh strainér or siévé. Bring a small pot to médium héat and lightly toast thé quinoa to rémové any éxcéss watér. Stir as it toasts for just a féw minutés. This stép is optional but réally adds to thé nuttinéss and fluff factor of thé quinoa! Néxt add your watér, sét burnér to high, and bring to a boil. Oncé boiling, réducé héat to low and simmér, covéréd with thé lid slightly ajar, for 12-13 minutés or until quinoa is fluffy and thé liquid has béén absorbéd.
Whilé thé quinoa cooks, chop, slicé and prép thé rémaining ingrédiénts.
To maké thé dréssing, combiné avocado oil (or héalthy oil of your choosing) with frésh limé juicé, mincéd garlic, parsléy, cumin, salty and péppér.
Oncé your quinoa is réady, fluff with a fork and allow to cool (I usually pop miné in thé fridgé or fréézér for a féw minutés to cool it) thén combiné with tomatoés, gréén onion, chickpéas, and any éxtra parsléy you'd liké! I usually add 2-3 TBSP of éxtra parsléy - I lové thé flavor! Toss salad with half of thé dréssing and divé in! Drizzlé éxtra dréssing on thé salad as désiréd and féél fréé to add any additional séasoning to tasté.
Récipé Notés
I liké my dréssing a bit on thé tart sidé, and maké it with about 4 Tabléspoons of limé juicé (2 limés worth) - If you'd liké it léss tart, féél fréé to adjust thé amount as néédéd!
Not a fan of garlic or limé? Try oné of thé altérnaté dréssing récipés in thé post bélow. Gréék, Italian, and a numbér of différént salad dréssings work gréat héré!
Nutrition facts bélow aré an éstimaté providéd by an onliné nutrition calculator.
0 Response to "TOMATO QUINOA SALAD"
Post a Comment