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!
Cornbread Taco Pie
Today I want to share with you this oh so yummy Cornbread Taco Pie. All the yummy taco ingredients on the bottom baked with cornbread on top!
It’s no secret I’m a taco lover! Aren’t we all! This cornbread taco pie is going to be a must try. Creamy, cheesy, taco filling topped with cornbread. Simple to make and something that your family is going to love. You may be surprised at how simple this is to put together!
This simple recipe is going to be something you LOVE! Bake your cornbread dough right on top and enjoy!
Ingredients
- Ground beef 1 lb
- Green pepper diced, 1/3 cup
- Onion diced, 2 tbsp
- Taco seasoning 2 tbsp (to taste)
- Corn 2 cups
- Salsa 1 cup
- Whipped cream cheese 4 oz
- Corn bread 1 box mix
- Egg 1
- Milk 1/3 cup
- Shredded cheese 1/3 cup (optional)
- Cilantro 2 tbsp (optional)
Instructions
- Start by cooking your ground beef in a large skillet. Add diced peppers and onions and allow to cook until beef is cooked and vegetables are tender. Season with taco seasoning.
- While your beef cooks place corn in a pot with water and allow to cook for 3-4 minutes.
- Add salsa and whipped cream cheese to your ground beef and allow to cook on low. Mixing while it cooks until your cream cheese has melted and is well combined. Place beef in a casserole dish.
- Drain corn and place corn on top of the ground beef.
- Preheat your oven to 400 degrees F. In a separate bowl mix corn bread mix with egg and milk. (Take note of what your corn bread mix calls for. Mine calls to mix with 1 egg and 1/3 cup of milk. Replace these ingredients with what your box calls for if different.)
- Pour corn bread mix in casserole dish over corn. Bake for 25-30 minutes or until corn bread is fully cooked and you can poke it with a fork that comes out clean.
- Optional: Top with shredded cheese and cilantro.
0 Response to "Cornbread Taco Pie"
Post a Comment