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!
SPICY VEGAN BLACK BEAN SOUP
This spicy vegan black bean soup is easy to make, incredibly filling and satisfying and has just the right amount of spiciness. It’s made with simple ingredients like onion, garlic, carrot, tomato sauce and black beans but still full of flavour and nutrition. Add some avocado to that and you’ve got a perfect meal in a bowl. This recipe is high in protein, complex carbohydrates and very low in fat. I blended mine for a creamy black bean soup but you can also leave it unblended if you prefer a chunkier soup.
This hearty soup is easy to make and comes together in under 30 minutes making it a great recipe for quick weeknight dinners. It can also be made in advance as it keeps well and the flavours even improve the next day. This soup is low in fat, vegan, gluten-free, oil-free, sugar-free and high in fibre, protein and iron.
Ingredients
- 1 heaping cup diced onion (160 g, approx. 1 small or 1/2 a large)
- 1 heaping cup peeled and diced carrot (160 g, approx. 2 medium)
- 1 diced green pepper
- 1 cup chopped celery (150 g, approx. 3 ribs)
- 1/2 a jalapeno, de-seeded and minced (or a whole one for extra spiciness)
- 3 cloves garlic, minced
- 2 tsp each cumin, oregano and chili powder
- 3-4 cups vegetable broth (start with 3 cups, add a bit if it seems to thick)
- 1 cup (250 mL) tomato sauce (any plain tomato pasta sauce works)
- 1 19 oz can black beans, drained and rinsed (330 g, about 2 cups cooked)
- 1/2 cup finely chopped cilantro
- salt and pepper, to taste
- squeeze of fresh lime juice
Instructions
- Add the onion, carrot, celery, garlic and bell pepper to a soup pot with a bit of the vegetable broth and cook for 5-10 minutes until starting to soften.
- Stir in the spices and cook for a few more minutes.
- Add the broth, tomato sauce and black beans and simmer lightly until the carrots are tender, about 15 minutes.
- Scoop half of the soup into a blender and puree until very smooth.
- Pour it back into the pot and stir in the cilantro. Season with salt and pepper and add a squeeze of fresh lime juice, if desired.
Notes
Sub 2-3 chili peppers in adobo sauce for the jalapeno for more of a chipotle flavour.
Start with 3 cups of vegetable broth and add a bit more if it seems to thick, it just depends on the exact amount of veggies you use and how thick you want your soup.
0 Response to "SPICY VEGAN BLACK BEAN SOUP"
Post a Comment