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 Black Bean Soup
This healthy black bean soup recipe is easy to make with canned beans. Thanks to some basic aromatics and Cuban spices, it’s incredibly flavorful and delicious. This soup is naturally vegan, vegetarian and gluten free. The recipe yields quite a bit of soup (6 to 8 servings)—it is easily halved, or you can freeze the leftovers.
I should mention that this recipe makes quite a lot of soup; leftovers will keep well for four to five days, so it’s perfect for weekday lunches. You can also freeze it.
SPICY BLACK BEAN SOUP RECIPE
INGREDIENTS- 2 tablespoons olive oil
- 2 medium yellow onions, chopped
- 3 celery ribs, chopped fine
- 1 large carrot, peeled and sliced into thin rounds
- 6 garlic cloves, pressed or minced
- 4 ½ teaspoons ground cumin
- ½ teaspoon red pepper flakes (use ¼ teaspoon if you’re sensitive to spice)
- 4 (15-ounce) cans of black beans, rinsed and drained
- 4 cups low-sodium vegetable broth
- ¼ cup chopped fresh cilantro (optional)
- 1 to 2 teaspoons sherry vinegar, to taste, or 2 tablespoons fresh lime juice
- Sea salt and freshly ground black pepper, to taste
- Optional garnishes: diced avocado, extra cilantro, thinly sliced radishes, tortilla chips…
INSTRUCTIONS- Heat the olive oil in a large Dutch oven or soup pot over medium heat until shimmering. Add the onions, celery and carrot and a light sprinkle of salt. Cook, stirring occasionally, until the vegetable are soft, about 10 to 15 minutes.
- Stir in the garlic, cumin and red pepper flakes and cook until fragrant, about 30 seconds. Pour in the beans and broth and bring to a simmer over medium-high heat. Cook, reducing heat as necessary to maintain a gentle simmer, until the broth is flavorful and the beans are very tender, about 30 minutes.
- Puree about 4 cups of the soup in a blender until smooth (beware the steam that escapes from the top of the blender, it’s very hot). Return the pureed soup to the pot, stir in the cilantro, vinegar/lime juice and salt and pepper, to taste. Serve.
0 Response to "Spicy Black Bean Soup"
Posting Komentar