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!
Chinese Pineapple Chicken
I don’t know about you, but I can’t seem to get enough Chinese food. Growing up in So Cal we not only had Chinese food restaurants on pratically every corner, but they delivered. Every single one was over the top amazing. One of my all-time favorites to order is Chinese Pineapple Chicken.
Being up here in North Idaho, we have far fewer options when it comes to great Chinese take-out. Plus the ones we do have are either SUPER expensive or just don’t compare when it comes to flavor. So we have spent the last few years working on perfecting our own versions of our favorites instead. Mine being this Chinese Pineapple Chicken.
Chinese Pineapple Chicken that is better than any takeout you’ll find. Perfectly crispy chicken coated in a sweet & tangy pineapple sauce that is phenomenal! Dig in!
I love this recipe because it gives that perfect crispy outside for the chicken bites & then that sauce……mmmmmm it is SO GOOD!
INGREDIENTS :
Chicken
- 2 lbs boneless skinless chicken breasts cut into small chunks
- 1 tsp peanut oil
- 1/2 tsp sea salt
- 1/4 tsp pepper
- 1 cup cornstarch for coating
- 1 1/2 cups peanut oil for frying
Pineapple Sauce
- 1 large can crushed pineapple + juice 28 oz
- 1/2 cup chicken stock
- 2 Tbsp apple cider vinegar
- 3 Tbsp soy sauce
- 4 Tbsp brown sugar packed
- 1/2 tsp ginger
- 2 Tbsp minced garlic
- 1/2 tsp red chili flakes opt
- 3 Tbsp cornstarch mixed with 2 Tbsp water
INTRUCTIONS :
- Combine sauce ingredients in a medium bowl, whisk - set aside
- Toss chicken chunks with oil in a large bowl.
- Sprinkle with salt & pepper, and stir to combine. Set aside.
- Place cornstarch in a zip-top bag & set aside.
- Heat oil to 350 degrees in a wok or large skillet.
- Add the chicken to the bag with the cornstarch, close & shake to coat.
- Carefully drop several pieces of chicken into the hot oil (work in batches to not overcrowd the chicken)
- Fry until golden. Scoop out the chicken & drain on a paper towel-lined baking sheet.
- Continue frying & draining the remaining chicken.
- Carefully transfer the oil into a Pyrex measuring cup.
- Add the garlic & pineapple sauce & bring to a simmer.
- Cook mixture, stirring constantly until it starts to thicken.
- Add the chicken, toss to combine.
- Serve with fried or steamed rice.
0 Response to "Chinese Pineapple Chicken"
Post a Comment