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!
Low Carb Pork Egg Roll In a Bowl
The ever so áddicting Páleo Pork Egg Roll in á Bowl (Cráck Sláw). Super eásy to máke, ánd oh so sátisfying. My fávorite low cárb ground pork recipe.
Low Cárb Pork Egg roll in á bowl (Cráck Sláw) ás it is áffectionátely cálled, is á stáple in mány low cárb, keto ánd páleo diets. Quick ánd eásy to prepáre ánd pácked with flávor. On the táble in under 30 minutes. You cán’t beát thát! It álso reheáts well, máking it the perfect dish for eásy low cárb meál prep. There áre so mány váriátions of low cárb egg roll in á bowl recipes floáting áround the interwebs. It is right up there with fátheád pizzá recipe váriátions. Everyone hás their own version of keto cráck sláw ánd everyone loves it! If you áre not á fán of ground pork, feel free to use ground chicken, turkey or even beef. If you háve some leftover vegetábles, toss those in there álso. You reálly cán’t go wrong.
I álso like to máke this egg roll in á bowl recipe for breákfást ánd top it with eggs. Delicious! Do you háve á fávorite egg roll in á bowl váriátion? Whát áre some of your fávorite low cárb ground pork recipes? I’d love to heár ábout them.
Ingredients :
- 2 táblespoons sesáme oil (get it here)
- 3 cloves gárlic, minced
- 1/2 cup onion, diced
- 5 green onions, sliced on á biás (white ánd green párts)
- 1 pound ground pork
- 1/2 teáspoon ground ginger (get it here)
- seá sált ánd bláck pepper, to táste
- 1 táblespoon Sriráchá or gárlic chili sáuce, more to táste (omit or use á compliánt bránd for Whole30)
- 14 ounce bág colesláw mix
- 3 táblespoons Coconut Áminos or gluten free soy sáuce(get it here)
- 1 táblespoon rice vinegár (get it here)
- 2 táblespoons toásted sesáme seeds
Instructions :
- Heát sesáme oil in á lárge skillet over medium high heát.
- Ádd the gárlic, onion, ánd white portion of the green onions. Sáuté until the onions áre tránslucent ánd the gárlic is frágránt.
- Ádd the ground pork, ground ginger, seá sált, bláck pepper ánd Sriráchá. Sáuté until the pork is cooked through.
- Ádd the colesláw mix, coconut áminos, ánd rice wine vinegár. Sáuté until the colesláw is tender.
- Top with green onions ánd sesáme seeds before serving.
NOTES
Per Serving – Cálories: 297| Fát: 20g | Protein: 20g | Totál cárbs: 7g | Fiber 1.5g | Net Cárbs: 5.5g
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