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!
Tropical Fruit Breakfast Smoothie
Tropical Fruit Breakfast Smoothie
This and about a million other tropical foods, because that is what you do on a hot summer vacay.
Or at least that is what I am going to do.
Smoothies are really not a recipe. Or at least when I make them. See, I just throw whatever fruit I have on hand into the blender and maybe a little milk or a lot of time greek yogurt and call it a day. Sometimes, for my younger brother Red, I will swap the yogurt for ice cream because he loves it that way and he is literally a twig and needs the fat.
This smoothies is full of summer fruits and heavy on the tropical flavors.
INGREDIENTS
- 1 cup frozen raspberries or strawberries I used a mix
- 1 medium banana fresh or frozen
- 1/3 cup raw coconut meat chopped (optional)
- 1 cup coconut milk
- 1 cup frozen mango chunks
- 1 - 1 1/2 cups fresh pineapple juice
- 1 vanilla bean seeds scraped
- 1/2 a pineapple cubed (optional)
- 1 kiwi sliced (optional)
- 1-2 tablespoons ground flax optional
SIMPLE COCONUT GRANOLA (OPTIONAL)
- 3 cups rolled oats
- 1 cup shredded coconut sweetened or unsweetened
- 1 cup raw whole almonds
- 1/4 cup coconut oil
- 3/4 cup pure maple syrup
- 1 teaspoon instant espresso
- 1 teaspoon ground cinnamon
- 1/4 teaspoon salt
- 1 teaspoon vanilla extract
- 4 tablespoons honey
INSTRUCTIONS
SMOOTHIE
- In a blender add the raspberries (or a mix of raspberries and strawberries), banana, coconut meat and coconut milk. Blend the mixture until smooth. Pour the smoothie into two glasses.
- Wash the blender out and add the mango chunks, 1 cup pineapple juice and vanilla bean seeds. Blend the mixture until smooth. If desired add more pineapple juice to thin the smoothie out. Pour the mango smoothie over the the raspberry smoothie and use a long spoon to mix them together just a little.
- If desired thread some pineapple cubes on wooden skewers and place in each drink. Add a kiwi slice to the rim. Sprinkle with flax and granola if using. Use a spoon or straw to drink/eat this!
SIMPLE COCONUT GRANOLA (OPTIONAL)
- Preheat oven to 325 degrees F. In a large bowl combine the oats, shredded coconut and almonds. Toss well. Melt the coconut oil in the microwave for 30 seconds, stir in the maple syrup. Place the mixture back in the microwave for another 30 seconds. Sprinkle the espresso powder over top and stir to dissolve. Add the cinnamon and salt. Stir in the vanilla. Pour the warm mixture over the dry oat mixture and stir to fully combine. I normally stir for a good 3 to 5 minutes.
- Spread the granola out on a parchment lined baking sheet with sides and drizzle with 2 tablespoons honey. Bake for 30 to 40 minutes stirring every 15 minutes so the granola will get evenly toasted. The last time you stir the granola, drizzle it with the remaining 2 tablespoons honey. Remove from the oven and let cool five minutes.
- After 5 minutes spray the bottom of a flat 1 cup measuring cup or a flat bottomed glass with cooking spray. Press the granola into the pan using the bottom of the measuring cup so that you have a flat slab of granola that looks like they could be cut into bars. Let the granola sit for one hour to cool and harden. After an hour break the granola up into clusters.
0 Response to "Tropical Fruit Breakfast Smoothie"
Post a Comment