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 Pioneer Woman Meatloaf
The Pioneer Woman Meatloaf
This Meatloaf Recipe from The Pioneer Woman is the best you’ll ever try! The the loaf itself is easy to make, and the bacon-wrapped exterior packs in so much flavor! It’s brushed with a simple homemade sauce before being baked to perfection. Leftovers freeze perfectly well for future meals!
The Pioneer Woman Meatloaf
Servings: 8
Prep Time: 20 MINS
Cook Time: 1 HR 10 MINS
Total Time: 1 HR 30 MINS
Course: MAIN COURSE
Cuisine: AMERICAN
Keyword: THE PIONEER WOMAN MEATLOAF
Ingredients
US CUSTOMARY - METRIC
Meatloaf:
- 1 cup Whole Milk
- 6 slices White Bread
- 2 pounds Ground Beef
- 1 cup Parmesan Cheese freshly grated
- 1/4 teaspoon Seasoned Salt
- 3/4 teaspoons Salt
- Freshly Ground Black Pepper
- 1/3 cup Parsley minced
- 4 whole Eggs Beaten
- 12 slices Thin/regular Bacon
Sauce:
- 1+1/2 cups Ketchup
- 1/3 cup Brown Sugar
- 1 teaspoon Dry Mustard
- 1 dash Tabasco sauce
Instructions
- Preheat the oven to 350 degrees.
- Add the bread to a large bowl and pour the milk on top of the slices. Let them soak for 5 minutes.
- Add the remaining meatloaf ingredients and use your hands to combine. Try to ensure that the bread is sufficiently combined into the mixture, although try not to overmix as the ground beef will become tougher and lose some flavor.
- Form the meat into a loaf and place it over a broiler pan to allow the fat to drain. Lining the bottom of the broiler pan with foil will make for easier cleanup.
- Line the bacon over the top of the loaf and carefully tuck the ends under the bottom. The bacon can be used to help support the shape of the loaf. I like to line them so that they are touching, but not overlapping so that you can easily slice in between each piece of bacon when it’s cooked.
- Combine the sauce ingredients and brush 1/3 of it over the meatloaf.
- Bake the meatloaf for 45 minutes. Remove it from the oven and brush another 1/3 of the sauce over it. Bake for another 25 minutes.
- Remove from the oven and let it sit for 10 minutes prior to slicing, letting it rest allows the juices to absorb back into the meat, cutting in too early will cause the juice to run out of the loaf.
- Serve with the remaining sauce and enjoy! These are delicious with mashed potatoes and roasted green beans!
Recipe Notes
70% lean beef is best for meatloaf.
Thin bacon is best with this recipe, the thinner the better!
Recipe Source: The Pioneer Woman
0 Response to "The Pioneer Woman Meatloaf"
Posting Komentar