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 One Pot Enchilada Pasta
If you are looking for a one-dish meal for the kids (or, even for you!) this is an amazing dinner.
Our kids love this – and paired with a nice crusty bread with butter it’s great for an easy dinner!
We make our own enchilada sauce here at home and freeze it in ball canning jars – but if you don’t want to make your own, you can purchase a can of enchilada sauce in store… the recipe calls for 12 oz (so just under a can.).
An easy, one pot meal that combines ground beef, enchilada sauce and pasta for a meal that will wow the family.
Ingredients
- 8 oz pasta (we used gluten-free)
- 1/2 lb ground beef or ground turkey
- 1 C. shredded cheese
- 12 oz enchilada sauce
- 2 C. broth (can be beef, chicken or veggie)
- 2 Tbsp seasoning (taco or any)
- salt & pepper (to taste)
- Optional: 1/2 C. sour cream
- Optional: black olives
Instructions
- Brown the meat with the seasoning in your instant pot using the saute function.
- Add the broth, pasta and enchilada sauce to the pot. You want the liquid to just barely coer the pasta - if it doesn't, add a little more broth.
- Place the lid on the pressure cooker, close the valve and set the pasta on high pressure for 4 minutes.
- After it beeps, let it release naturally for 3-4 minutes, then quick release the instant pot.
- Stir in the cheese and salt and pepper to taste.
- Optional: Top with fresh Mexican queso, or black olives. You can also stir in 1/2 C. sour cream if you want to make it a little more creamy.
Notes
Take it a step further and add black beans OR corn to your pasta... and add them in to the pot when you add the pasta.
0 Response to "Easy One Pot Enchilada Pasta"
Post a Comment