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!
Pasta Florentine with Grilled Chicken
Pasta Florentine with Grilled Chicken
You love chicken. You love pasta. Why not combine them into this creamy, smoky and downright delightful pasta Florentine with grilled chicken? Charring your chicken breasts for ten minutes adds a little je ne sais quoi to the classic French dish.
PHOTO: LIZ ANDREW/STYLING: ERIN MCDOWELL
PREP: 15 MIN
COOK: 25 MIN
TOTAL: 40 MIN
4 servings
INGREDIENTS
- 2 tablespoons Dijon mustard
- 4 tablespoons extra-virgin olive oil, divided
- 4 boneless, skinless chicken breasts
- Kosher salt and freshly ground black pepper
- 1 pound bucatini or other long pasta
- 3 garlic cloves, minced
- ¾ cup dry white wine
- ⅓ cup heavy cream
- ½ cup grated Parmesan cheese
- One 5-ounce bag baby spinach
DIRECTIONS
- Prepare your grill for high heat. In a small bowl, whisk the mustard with 2 tablespoons of the olive oil. Brush the chicken on both sides with this mixture; season with salt and pepper.
- Grill the chicken until well charred and cooked through, turning as needed, 10 to 12 minutes. Transfer the chicken to a cutting board and let it rest for 10 minutes. Slice very thinly.
- Bring a large pot of salted water to a boil. Add the pasta and cook according to the instructions on the package. Drain well.
- In a large skillet, heat the remaining 2 tablespoons olive oil over medium heat. Add the garlic and sauté until fragrant, about 1 minute.
- Add the wine to the pan and bring to a simmer. Simmer until the mixture is reduced by half. Stir in the heavy cream and the cheese; season with salt and pepper.
- Add the pasta to the pan and toss well to coat in the sauce. Add the chicken and spinach. Toss until the spinach is slightly wilted. Serve immediately
0 Response to " Pasta Florentine with Grilled Chicken"
Posting Komentar