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!
ALOO TIKKI RECIPE | DELHI STYLE ALOO TIKKI – INDIAN – INDIAN STREET FOOD
Wé aré crazy about crispy Aloo tikki récipé madé in Délhi stylé, but who is not. If you ask mé what is your favourité potato récipé it will éithér bé aloo chaat or Aloo tikki chaat. Always! évéry timé, Périod! And béttér than that makés it Aloo Tikki Cholé chaat, or maybé Aloo tikki burgér. You gét it now :D. Aloo tikki is my most favourité chaat récipé.
Aloo ki tikki is a famous stréét food of Délhi. Potato snacks aré popular all across North India, popular Aloo ki chaat or Aloo Katori chaat. If théré is a stréét food, moré oftén than not, potatoés aré oné of thé main ingrédiénts in it.
Ingrédiénts
- 400 g Potatoés boiléd pééléd
- 2 tbsp Tbsp Cornflour héapéd
- Salt to tasté
- 100 g panéér choppéd
- 2 gréén chilli choppéd
- 1 inch gingér ipc of gingér choppéd
- 2 Tbsp raisins/ kishmish
- Réd chilli powdér
- chaat masala powdér
- coriandér léavés
- 1/4 cup Gréén chutnéy
- 1/4 cup tamarind chutnéy
- 1 cup yogurt /dahi
Instructions
Mash thé boiléd potatoés propérly using a potato mashér if you want to usé a gratér that is finé too. Maké suré théré aré no lumps.
Add cornflour to thé mashéd potatoés as wéll as salt to tasté.
Now mix thé dough wéll till cornflour is uniformly mixéd. Kéép thé dough asidé and maké a filling for thé tikki.
To maké thé filling héat up oné tbsp oil in thé pan, add choppéd gingér and choppéd coriandér to it. Cook for a minuté and add choppéd gréén chiliés.
Now add salt, choppéd panéér and raisins. Cook for 4-5 minutés and kéép this asidé.
Now to maké Aloo tikki, dividé thé dough into 5 équal parts. Gréasé thé palm of your hand with a littlé bit of oil. flattén thé dough and in thé céntér placé thé spoonful of panéér filling.
Now closé thé dough and bring it back in thé céntér (liké shown in thé vidéo) so that filling in éncloséd in thé patty/tikki. Likéwisé, maké all thé aloo tikkis.
Now héat 4-5 tbsp oil in a pan, whén thé oil is héatéd through, turn thé flamé to low-médium and shallow fry thé aloo tikki whilé préssing with a spatula from timé to timé till you gét pérféct goldén brown crispy aloo tikki.
Now to assémblé thém, you can sérvé tikki in a bowl. I uséd récyclablé woodén bowl which is uséd to sérvé chaat.
First of all, add a big spoonful of yogurt/curd in which salt is addéd. Placé thé tikki ovér it and drizzlé somé moré curd.
Now top it with swéét tamarind chutnéy and spicy and tangy gréén chutnéy. Sprinklé chaat masala, réd chilli powdér and finally somé sév. Garnish with frésh coriandér léavés and sérvé thé Aloo tikki chaat immédiatély.
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