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!
Tequila Sunrise Margarita
Tequila Sunrise Margarita
One thing I know about a Tequila Sunrise, they are supposed to show a layering that mimics the colors of a real sunrise. The recipe I was given had all the ingredients shaken together and while a sort of pretty pinkish orange color; it just did not work for me. So Round One was out of contention.
Ingredients
For the Grenadine (Pomegranate Simple Syrup):
- 2 cups pomegranate juice (or cranberry)
- 1 1/4 cups granulated sugar
For the Rim
- 2 Tbsp Kosher Salt
- 2 Tbsp Sugar (I used cake decorating crystals from Michael's)
For the Tequila Sunrise Margarita:
- 4 oz Tequila blanco
- 3 oz orange juice
- 2 oz lime juice
- 2 oz orange liqueur
- 2 oz Grenadine
For Garnish:
Instructions
To Make the Grenadine:
- Put the pomegranate (or cranberry juice) into a medium pan and heat over medium high heat until reduced by half and you have one cup of liquid. Add the sugar and continue simmering until it is completed combined. Remove from heat and cool completely. Refrigerate for at least an hour.
To Make the Cocktail:
- Combine the Kosher salt and sugar and put on a plate. Using an orange wedge, rub the edge of the glasses then turn them upside down and dip the rims in the sugar/salt combo. Fill the glasses with ice cubes and set aside.
- Combine the tequila, lime juice, orange juice, and orange liqueur in a cocktail shaker filled with ice and shake until cold. Pour the mixture into the prepared glasses.
- Using a small pitcher or a spoon, drizzle the grenadine at the inside edge of the glasses; it should fall to the floor of the glass. Using a knife or straw, mix the grenadine very lightly at the bottom of the glass.
- Garnish each glass with an orange wedge and drizzle additional grenadine over the top of the cocktail right before serving.
0 Response to "Tequila Sunrise Margarita"
Posting Komentar