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!
Green Goddess Veggie Pasta Bake
Does anyone else remember getting swept up in the green goddess dressing fad?? For a little while there it seemed like green goddess anything was all the range, what with it being cool, creamy and refreshing, and, though it’s not quite as popular as it once was, we still love it and order it every chance we get, so when it occurred to us to try making a green goddess dressing-inspired spaghetti bake…oh my gosh, it’s like the heavens opened up and sang to us – we knew it was a great idea!
INGREDIENTS
- 1 (16 oz.) package spaghetti, cooked and drained
- 4 cups spinach, roughly chopped
- 2 cups broccoli florets, steamed
- 1 cup frozen peas
- 2 cloves garlic, minced
- 1 (8 oz.) package low-fat cream cheese
- 2/3 cup Greek yogurt
- 1/2 lemon, juiced
- 1 cup low-fat mozzarella cheese
- 1/4 cup parmesan cheese, grated
- 1 teaspoon onion powder
- 1 teaspoon dried parsley
- 1 teaspoon dried basil
- 2 tablespoons extra-virgin olive oil
- Kosher salt and freshly ground pepper, to taste
PREPARATION
- Preheat oven to 350º F and lightly grease a 9x13-inch baking dish.
- Heat olive oil in a large pan or skillet over medium-high heat and sauté spinach until just wilted. Add garlic and cook for 30-45 seconds, or until fragrant, then add peas and toss together.
- Season with salt, pepper, onion powder, parsley and basil, mixing everything together until evenly coated.
- Reduce heat to medium and add low-fat cream cheese and Greek yogurt to mixture, stirring until smooth, then stir in lemon juice and remove from heat.
- Place cooked spaghetti and broccoli in greased baking dish, then pour spinach sauce over the pasta, using tongs to coat noodles and broccoli in sauce.
- Sprinkle mozzarella and parmesan cheeses on top, then place in oven and bake for 25-30 minutes, or until cheese is melted and bubbly.
0 Response to "Green Goddess Veggie Pasta Bake"
Post a Comment