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!

The Best Lasagne with Mature Cheddar & Gruyere Cheese Sauce


The Best Lasagne with Mature Cheddar & Gruyere Cheese Sauce

The ultimate homemade lasagne!

Serves 6
Prep time: 45 minutes
Cooking time:  50-60 minutes

Ingredients
For the tomato sauce
2 tbsp olive oil
1 x 400g can chopped tomatoes
1 garlic clove, peeled & crushed
Pinch of caster sugar
1 sprig fresh thyme, leaves only, chopped
1 bay leaf
Sea salt & freshly ground pepper

For the meat sauce
2 tbsp olive oil
4 shallots, peeled & finely chopped
1 carrot, peeled & finely chopped
1 celery stalk, finely chopped
500g lean minced beef
1 sprig fresh thyme, stalks removed
2 bay leaves
5 basil leaves, torn
375ml red wine, Chianti or merlot
Pinch of caster sugar
2 tsp tomato puree

For the cheese sauce:
600ml milk
1 bay leaf
6 black peppercorns
Slice of onion
60g butter
60g plain flour
2 tsp Dijon Mustard
100g mature cheddar cheese, grated
100g Gruyere cheese, grated
Salt & pepper

12 pre-cooked lasagne sheets
100g Parmesan Cheese


Preparation method

1.  To make the tomato sauce, heat the oil in a pan and add the tomatoes and garlic for 3-4 minutes.  Now add the sugar, thyme, bay leaf and seasoning. Cook over a gentle heat for 10 minutes, or until the tomatoes have reduced.

2.  For the meat sauce, heat the oil in a frying pan and sauté the shallots, carrots and celery for 5 minutes until softened but not coloured.  Add the mince and cook for 5-8 minutes until the meat is browned.  Add the thyme, bay leaves, basil and red wine.  Reduce slowly over a gentle heat until thick.  Season to taste, and add the sugar to taste, now stir in the tomato puree and take out the bay leaves.

3.  To make the cheese sauce, pour the milk into a saucepan and add the bay leaf peppercorns and onion.  Heat gently to just below boiling point, then remove from the heat, cover and allow to infuse for 10 minutes.  Strain the milk into a jug.  In a separate pan melt the butter and sprinkle in the flour and cook over a low heat, stirring constantly for 1 minute.  Remove from the heat and gradually stir in the warm milk.  Return to the heat and bring to the boil, stirring.  Cook, stirring until thickened and smooth.  Stir in the mustard and both cheeses, then season to taste with salt and pepper.

4.  Remove the bay leaf from the tomato sauce and combine this with the meat sauce.  Combine the meat sauce with a quarter of the cheese sauce.

5.  Preheat the oven to 160°C/Gas mark 3.

6.  To assemble the lasagne, grease a oven proof dish, spread a spoonful of meat sauce over the base of the dish. Add a layer of lasagne sheets and top with one third of the meat sauce, then drizzle over some cheese sauce.  Repeat this and top with a final layer of lasagne sheets and cover with the cheese sauce.  Sprinkle over the parmesan cheese and place in the oven for 35-45 minutes until golden brown.

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