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!
CROCK POT CHICKEN AND RICE
CROCK POT CHICKEN AND RICE
Here’s a delicious crock pot chicken and rice casserole dish that the family will LOVE. It only takes 6-8 ingredients and about 10 minutes to toss in the slow cooker… LESS if you opt for using chicken tenders instead of whole chicken breasts
Crock Pot Chicken and Rice
Prep Time 10 mins
Cook Time 7 hrs
Total Time 7 hrs 10 mins
Here is a delicious crockpot chicken and rice casserole! AND get this…it’s freezer friendly AND cooks in the slow cooker, on the stovetop OR in the oven
Course: Crock Pot, Main Course
Cuisine: Casserole, Comfort Food
Servings: 8 servings
Ingredients
- 1 to 1 1/2 pounds boneless skinless chicken breasts (or use chicken tenders and save yourself a step)
- 1 can cream of chicken soup or make your own
- 2 cups chicken broth or stock or make your own
- 1 12-16- ounce bag frozen peas and carrots
- 1 to 2 cups shredded cheddar cheese
- 2 cups long-grain rice uncooked (not instant)
- Salt & Pepper to Taste
- Optional Breaded Topping:
- ¾ cup seasoned bread crumbs
- 3 tablespoons butter melted
Instructions
- Spray, butter or grease your slow cooker insert
- Dice your chicken into chunks.
- Toss in the rice, meat, then the vegetables.
- Mix the creamed soup, broth, half the shredded cheese, and water. Add salt and pepper as desired and pour it over the ingredients in the slow cooker.
- Quash down the rice so it's under the liquid (if necessary, add just a little more water so it's submerged
- Mix the bread crumbs and melted butter. Add the cheese and stir well.
- Spread the mixture over the crock pot ingredients.
- Cover and cook on low for 5 to 6 hours, or high for 3 to 4. Check the rice for doneness if you're cooking it on high. It may need a bit longer.
- Freezer Meal Directions:
- Note: You can dice the chicken before assembling your freezer meal or you can use chicken tenders and skip the dicing part.
- Place the chicken and vegetables in the large baggie.
- Pour half the cheese, the soup, and the chicken broth over the top, lay flat. On this step, you can add the water now or make a note on your baggie that you’ll need to add it when cooking. Your choice.
- Squeeze out as much air as possible and place the labeled side down on the counter. This is so you’ll be able to see your notes after taping everything together.
- Place the rice in a separate baggie and stack on top the first baggie.
- Place the second half of the cheese, the breadcrumbs and the butter in a third bag. Use freezer tape to secure it all together.
- Flip it over and label it with its name, the date and any notes you need to. Freeze up to 6 weeks.
- recipe source: https://www.slowcookerkitchen.com/crock-pot-chicken-and-rice
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