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!
Cashew Chicken
Learn how to make restaurant-style cashew chicken with super juicy and tender meat, a rich, thick, gingery, garlicky sauce, crispy peppers, and cashews. {Gluten-free adaptable}
Ingredients
- 1 lb (450 g) skinless boneless breast (or thigh) , cut into 2/3-inch (1 cm) pieces
- Marinade
- 1 tablespoon Shaoxing wine or dry sherry
- 1/4 teaspoon salt
- 2 teaspoons cornstarch
- Sauce
- 3 tablespoons oyster sauce or hoisin sauce
- 1 tablespoon Shaoxing wine
- 1/2 tablespoon light soy sauce or soy sauce
- 1 tablespoon Chinkiang vinegar
- 1/3 cup chicken stock
- 2 teaspoons sugar
- 1 teaspoon cornstarch
- 2 teaspoons sesame oil
- 1/8 teaspoon white pepper powder
- Stir fry
- 2 tablespoons peanut oil or vegetable oil
- 4 cloves garlic , sliced
- 2 teaspoons finely chopped ginger
- 2 green onions , chopped
- 1 bell pepper , seeded and diced
- 1/2 cup toasted unsalted cashews
Instructions
- Combine chicken, Shaoxing wine, salt, and cornstarch in a medium-sized bowl. Mix well so the chicken is evenly coated with a thin slurry.
- Mix all the sauce ingredients in a small bowl.
- Heat 1 tablespoon oil in a large nonstick skillet over medium-high heat until hot. Spread the chicken with minimal overlapping. Let cook until the bottom side is light golden, 1 minute or so. Turn to the other side and cook until light golden. Stir a few times until all surfaces turn white. Transfer the chicken to a big plate.
- Add the remaining 1 tablespoon oil, garlic, ginger, and green onion. Stir a few times to release the fragrance.
- Add the peppers. Stir and cook until the peppers just turn tender, 1 to 2 minutes.
- Stir the sauce again to dissolve the cornstarch completely. Pour into the pan. Quickly stir a few times until the sauce thickens. Return the chicken to the skillet and mix again.
- Add the cashews, quickly give it a stir and immediately transfer everything to a plate.
- Serve hot over steamed rice as a main dish.
Recipe Notes
See the cooking notes in the blog post above for information on how to make this dish gluten-free
0 Response to "Cashew Chicken"
Posting Komentar