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!
ORANGE AGUA FRESCA RECIPE
Orange Agua Fresca was one of the most popular drinks made at my grandma’s house on her farm in Veracruz. Her farm had an old orange tree, which gave the type of oranges usually called Bitter Orange.
Orange Agua Fresca. A thirst-quenching drink that will be enjoyed by young and old. Made with fresh squeezed orange juice, this Orange Agua fresca is fast and easy to make in a matter of few minutes and enjoy it.
Ingredients
- 1 cup of fresh orange juice about 3 oranges
- 3 cups of water
- 1/3 cup of sugar
- 1 cup of ice cubes
Instructions
- Wash your oranges, cut them in half, and extract the orange juice using a citrus juicer (or just by squeezing the juice out with your hands).
- Pour the cup of juice in a pitcher. Add the 3 cups of water, 1/3 cup of sugar, and stir.
- Taste to check if the orange agua fresca doesn’t need more sugar (some oranges are sweeter than others). Finally, add the ice cubes and serve. If you want to decorate your drink, add a couple of fresh mint leaves. Enjoy your Orange Agua Fresca!
Recipe Notes
The best time of the year to make this Orange Agua Fresca is when the oranges are in season, which is from November to April here in the USA. I have found that the last oranges of the season are always the sweetest and tastiest ones.
I know you may be tempted to use store-bought orange juice, and you can do that, but the fresh oranges will always give you a better tasting Orange agua fresca
0 Response to "ORANGE AGUA FRESCA RECIPE"
Post a Comment