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!
EASY INSTANT POT STROGANOFF MEATBALLS
These Easy Instant Pot Stroganoff Meatballs are simply scrumptious! It takes only 30 minutes to make this family favorite dish. Made from scratch, NO canned stuff.
This Easy Instant Pot Stroganoff Meatballs recipe screams comfort food to me!
Stroganoff anything is always a BIG hit in our home, and this version is unbelievably creamy and made in the Instant Pot in about 30 minutes
These aren’t your everyday meatballs. These succulent little mouthfuls are made of ground chicken seasoned with a punch of condiments and smothered in a succulent sauce.
These Easy Instant Pot Stroganoff Meatballs are simply scrumptious! It takes only 30 minutes to make this family favorite dish. Made from scratch, NO canned stuff.
Ingredients
- 1 lb ground meat (I used ground chicken)
- 8 saltine crackers, crushed (see notes)
- 3 tablespoons buttermilk or 1 egg (see notes)
- ¼ cup fresh parsley, chopped + more to garnish
- ½ teaspoon thyme
- 1 teaspoon garlic powder
- 1 teaspoon onion powder
- 1 teaspoon kosher salt
- ¼ teaspoon black pepper
- 2 tablespoons olive oil
- 8 ounces cremini mushrooms, sliced
- 2 garlic cloves, minced
- 1 cup beef stock
- ½ cup heavy cream
- 1 bay leave
- 4 teaspoons cold water
- 2 teaspoons cornstarch
- ½ cup sour cream
- 1 tablespoon mustard
Instructions
- In a large bowl, combine ground meat, crushed saltine crackers (or panko), buttermilk (or egg), parsley, thyme, garlic powder, onion powder, salt, and pepper until just combined. Shape into 14 – 16 1-1/2-in meatballs.
- Heat the Instant Pot in sauté mode. Add oil and brown the meatballs, about 2 minutes per side. Add sliced mushroom and garlic and cook for 2-3 minutes before stirring; cook until fragrant, about 2 more minutes.
- Add beef stock, heavy cream and bay leave, cover and lock the lid. Cook high pressure 10 minutes.
- Meanwhile, mix in a small bowl the cold water and cornstarch until no lumps.
- When the cooking time is over, turn off the pot and carefully release pressure. Open the pot. Select “sauté” mode and adjust to less. Add cornstarch slurry, sour cream and mustard; mix to combine. Cook for 2-3 minutes until the sauce thickens.
- Sprinkle with fresh parsley, if desired. Serve immediately with mashed potatoes, rice or noodles.
Recipe Notes
You can substitute the crushed saltine crackers for 1/2 cup of panko. To make this recipe KETO friendly, substitute panko for almond meal.
I use buttermilk because of my daughter is allergic to eggs, but If you don't have any food restriction you can substitute the buttermilk for 1 egg.
You could also use frozen meatballs or steak strips with this recipe. If using steak strips increase the cooking time to 15 – 20 minutes.
To make this Meatball Stroganoff with the slow cooker mode adjust cooking time to low for 4 hours.
If you don’t like mushrooms you could substitute sliced potatoes if you would prefer, or leave them out altogether.
0 Response to "EASY INSTANT POT STROGANOFF MEATBALLS"
Post a Comment