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!
Corn and Cheese Balls
Corn and Cheese Balls Recipe, How to make Corn and Cheese Balls
Making snacks is always a challenge and I want to always look out for newer recipes. This time I tried all healthy corn and mixed it with some yummy cheese to make these Corn and Cheese Balls. They went fabulously well with a hot cup of coffee. These crispy balls are delicious, look awesome too, can be enjoyed with tomato sauce or Peach and Jalapeno Barbeque Sauce, and I’ve since been getting requests to make them again and again. For variations of this vegetarian recipe, you can also try the Potato and Cheese Balls. Non-vegetarians will love the Chicken Cheese Balls to go with their steaming cup of tea.
Enjoy them in the evening with your friends and family and bond over a yummy snack. Corn and Cheese Balls can be even served as a starter before an elaborate meal. You may even relish Corn and Cheese Balls with Pita Bread instead of falafel. If you too would like to try out this yummy snack here is Corn and Cheese Balls’ Recipe.
Corn and Cheese Balls
Corn and Cheese Balls Course Breakfast
Cuisine American
Author Neha
Ingredients- Corn-1 cup frozen or fresh
- Paneer Indian cottage cheese-100 gm If paneer is not available, you can use boiled potato
- Cheddar cheese-3/4 cup
- Corn flour-2 tbsp
- All purpose flour-1/4 cup
- Salt to taste
- Sugar - 1 tsp
- Green Chilli - 1 tsp Finely chopped
- Green Coriander - 2 tbsp Chopped
- Baking powder - 1/8 tsp
Instructions- Boil corn in little water till it is soft
- Drain the water and coarsely grind in a grinder
- Grate the Paneer or Potato
- In a bowl, mix together corn, paneer, cheese, corn flour, all purpose flour, salt, sugar, green chili, green coriander and baking powder
- Make 13-15 balls from the mixture
- Refrigerate for 10-15 minutes
- Take out from the refrigerator
- Dip the balls in milk and then in bread crumbs , so that they are coated with crumbs
- Refrigerate again for 10-15 minutes
- Heat oil in pan
- Take the balls out of the refrigerator and let then sit on the counter for at least 2-3 minutes before frying
- When the oil becomes very hot, Turn the heat to medium and fry the balls till golden brown
- Take care not to fry the balls at a very high heat , other wise they will turn black
- Serve hot with tomato ketchup
more recipes @ https://www.whiskaffair.com
