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!
Eggplant Parmesan
Eggplant Parmesan
This is my favorite way to make eggplant parmesan. The extra prep step may not seem worth it to you, but trust me – it absolutely is and makes a huge difference. You can read the comments below and see that those who took the extra step did not regret it!
Eggplant Parmesan
prep time 1 hr 15 mins
cook time 20 mins
total time 1 hr 35 mins
course: dinner, main course, main entree
cuisine: italian
servings:
calories: 723 kcal
Ingredients
- 1 large eggplant, sliced into 1/2" thick slices
- 2 tbsp kosher salt
- 1 1/2 cup Italian seasoned breadcrumbs
- 3 eggs
- 1/2 cup milk
- 4 tbsp vegetable oil, for lightly pan-frying
- 3 cups marinara sauce, homemade or store-bought
- 2 cups whole milk mozzarella shredded
- 1 cup parmesan cheese shredded
- Handful of fresh basil leaves chopped, for garnish (optional)
Instructions
- Salt both sides of your eggplant slices and place them in a large colander in the sink. Let the liquid drain for 45 minutes to 1 hour.
- When your eggplant slices have finished draining liquid, brush off the excess salt, as you don't want it to be too salty!
- In 2 shallow plates, add breadcrumbs to one and whisk eggs and milk in the other. Dip both sides of eggplant slice into milk/egg mixture then cover with breadcrumbs, shaking off the excess. Place on plate or large baking sheet and repeat until all eggplant slices have been coated.
- Preheat oven to 375 degrees.
- Heat a skillet over medium high heat and add 1 tbsp. of vegetable oil into the skillet. Once the skillet is hot, add two eggplant slices at a time to the skillet and cook on both sides until golden brown, remove and set on a large plate lined with paper towels. Repeat with 1 tbsp. of vegetable oil for every 2 eggplant slices.
- In a large casserole dish, add 1 cup of marinara sauce to the bottom of the casserole dish. Add a layer of eggplant slices (I was only able to fit about 3 a layer) then using a 1/4 cup, dollop marinara sauce on top of the eggplant slices. The idea isn't to smother the layers with sauce. On top of the eggplant slices, sprinkle a generous amount of mozzarella cheese and parmesan cheese. Repeat the layers until you run out of eggplants slices. Top the casserole with more cheese before you place in the oven :)
- Bake for 20-25 minutes, or until the cheese is bubbly and brown on top. I used the broiler for 5 minutes to get the cheese nice and brown - you don't have to, but if you do, watch it carefully!
- Serve hot and top with chopped basil, if using.
0 Response to "Eggplant Parmesan"
Post a Comment