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!
SMOTHERED CHICKEN WITH CREAMY MUSHROOM GRAVY
I’m back people!!! So much has been happening personally plus my site has been giving me trouble for months. I believe we worked out all the kinks. Prayerfully and hopefully that’s the case.
I wanted to share my Smothered Chicken with Creamy Mushroom Gravy because it’s comfort food at its best! The photo alone makes me feel better! How about you?
Ingredients:
- 4 bone-in, skin-on chicken breast, cut in half
- 2 cups flour, all purpose
- 1 tablespoon Creole seasonings
- 1/2 tablespoon black pepper
- 1/2 tablespoon garlic powder
- 1/2 tablespoon onion powder
- 1/2 tablespoon paprika
- 1/2 tablespoon chili powder
- Extra virgin olive oil
- For the Creamy Mushroom Gravy:
- 4 cups beef broth low sodium
- 3 cups sliced mushrooms
- 1/2 white onion, diced
- 1/2 bell pepper, diced
- 1 stalk celery, diced
- 3 tablespoons unsalted butter
- 3 tablespoons extra virgin olive oil
- 3 tablespoons flour, all purpose
- 5 cloves garlic, minced
- 2 teaspoons Creole seasoning
- 2 teaspoons black pepper
- 2 teaspoons garlic powder
- 2 teaspoons onion powder
- Fresh chopped parsley to garnish.
- Serve with rice or mashed potatoes.
Directions:
- Mix chicken seasoning blend together and set aside.
- Add flour to a bowl and add 1 tablespoon of seasoning blend, mix well.
- Rinse chicken and pat dry, cut in half. Place chicken in a clean bowl.
- Drizzle about 2 tablespoons of olive oil over chicken. Season with remaining spice blend, mix well.
- Heat about four tablespoons of olive oil in a large skillet over medium heat.
- Add chicken to flour and shake off excess by lightly tapping with your hand.
- Place chicken in skillet skin side down, cook five minutes per side.
- Move chicken to a bowl while we make the gravy.
- For the Gravy:
- Mix seasoning blend and set aside.
- Add butter to skillet and extra oil if needed. Add all vegetables to the pan except the garlic. Cook vegetables for about five minutes.
- Season with half the seasoning blend, add garlic, cook one minute more.
- Add broth to pan, season, bring to boil, reduce heat to medium low.
- Add chicken to pan and cook for about 40 minutes or until chicken is no longer pink. Stir chicken every five minutes.
- The last 10 minutes of cooking add heavy cream and a little parsley.
- Add extra broth if needed during cooking.
0 Response to "SMOTHERED CHICKEN WITH CREAMY MUSHROOM GRAVY"
Post a Comment