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!


Instant Pot Tortellini Alfredo with chicken and spinach is so amazingly flavorful and rich. This is a tasty Instant Pot one-pot pasta meal. Make this pressure cooker Tortellini Alfredo when you want the best comfort food!

Author: Sandy Clifton

  • 3 slices Bacon, chopped
  • 1/2 small Sweet Onion (or 1 lrg shallot), diced
  • 4 cloves Garlic, pressed or minced (or 1-2 tsp garlic powder)
  • 1 1/2 cups Chicken Broth, low sodium
  • 3/4 cup Heavy Cream
  • 1/4 tsp Coarse Salt (more to taste)
  • 1/2 tsp Pepper
  • 20 oz Tortellini, pesto or cheese is good (refrigerated)
  • 4 oz Cream Cheese, cut in small pieces
  • 2 Chicken Breasts (boneless/skinless) cut in thirds
To Finish
  • 3 cups Fresh Baby Spinach
  • 1 cup Parmesan Cheese, grated

  1. Turn on the pot's sauté setting. Add the bacon and cook until about halfway done, stirring occasionally.
  2. Add the onion and cook a few minutes, until translucent.
  3. Add the garlic and stir.
  4. Stir in the broth, scraping the bottom of the pot to get up all of the browned bits (deglaze).
  5. Stir in the heavy cream, salt, pepper, and the tortellini.
  6. Place the chicken on top of the pasta.
  7. Place the lid on the pot and lock in place. Turn the steam release knob to the Sealing position.
  8. Cancel the sauté setting. Press the Pressure Cook/Manual button (or dial), then the +/- button (or dial) to select 4 minutes (3 minutes for a firmer tortellini).
  9. When the cook cycle ends, do a controlled Quick Release of the pressure (controlled QR is when you release the steam in short bursts so the force of the escaping pressure doesn't bring the sauce out with the steam. Keep doing short bursts until you are sure no sauce will spew out with the steam, then turn the knob fully).
  10. When the pin in the lid drops down, open the lid. Add the cream cheese and stir gently and allow the cheese to melt.
  11. Add the spinach and gently stir. Let it start to wilt, then gently stir in the parmesan.
  12. Serve.
  13. Visit for full instructions.


Halaman Berikutnya

Subscribe to receive free email updates:


Post a Comment