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!
Ribeye Steak and Shrimp with Parmesan Sauce for Two
This Applebee’s Copycat Steak and Shrimp with Parmesan Sauce is amazing! Tender, juicy grilled Ribeye steak is topped with seasoned grilled shrimp and a savory Parmesan cheese sauce.
We have swapped out sirloin for Ribeye and grilled the shrimp instead of pan-frying. The cheese sauce is delicious and very versatile! Try pouring it over your chicken, mashed potatoes, or broccoli dishes.
This low-carb dish is the perfect easy surf and turf dinner for two, ready in just 30 minutes.
Heat the heavy cream in a saucepan and simmer on medium low, about 15 minutes stirring often.
Stir in the Parmesan cheese, basil, salt and pepper. Lower the heat and keep warm while you prepare the steak and shrimp.
Tender, juicy grilled Ribeye steak is topped with seasoned grilled shrimp and a savory Parmesan cheese sauce. This is an Applebee’s Copycat recipe with a few small twists. We have swapped out sirloin for Ribeye and grilled the shrimp over pan-fried. The cheese sauce is delicious and very versatile! Try pouring it over your chicken or broccoli dishes. This is the perfect surf and turf dinner for two.
Ingredients (Choose US or Metric)
- 1 cup heavy cream
- ½ cup Parmesan cheese grated
- 2 teaspoons dried basil
- Salt & pepper to taste
- 2 Ribeye steaks 8 ounce each
- 1/2 lb shrimp (or prawns) tails and shells removed, deveined
- 1 Tablespoon butter
- Old Bay Seasoning
Instructions
- If you're grilling the shrimp on wooden skewers soak the skewers in water first for about 20 minutes while the sauce cooks. Click here for Bamboo Skewers.
- Heat the heavy cream in a saucepan and simmer on medium low, about 15 minutes.
- Stir in Parmesan cheese, basil, salt and pepper. Lower heat and keep warm while you prepare the steak and shrimp.
- Season the steak to your preference. Grill either on the stove or outside grill, until done to your liking. For our 1/2 inch think steaks we cooked them on a gas grill for 5 minutes per side for medium rare.
- At the same time, add the shrimp to skewers. Melt the butter in the microwave approximately 20 – 30 seconds and brush it onto the shrimp. Sprinkle with Old Bay seasoning. Click here for Old Bay Seasoning.
- Grill the shrimp over medium high heat, or pan fry, until pink and opaque flipping over half way through, about 2 minutes per side or 4-6 minutes total.
- Place the grilled steak on a plate, top with the grilled shrimp and then the Parmesan sauce.
0 Response to "Ribeye Steak and Shrimp with Parmesan Sauce for Two"
Posting Komentar