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!

Smoked Beef Roast

When you take the time to make a smoked beef roast you’re rewarded with a scrumptious roast beef with deep smokey flavors that is so tender it melts in your mouth.

Smoking is one of the best ways to develop the natural flavors in beef. Smoking concentrates the flavors and creates a visually stunning roast that can take center stage at dinner or have a week of repeat performances as the star of mouthwatering sandwiches.

HOW TO SMOKE A BEEF ROAST
There’s a lot to love about smoking beef, the way it absorbs the flavors from the smoke, how it makes your neighbors jealous as the smoke wafts through the neighborhood, and for the way it brings beef’s flavors to life.

This basic recipe will work with almost any type of roast. We’ve found that smoking a rump, or a top or bottom round roast is the way to go if you want to serve thinly sliced beef that holds its shape, making them an excellent choice if you’re planning on using it for sandwiches.


INGREDIENTS

  • 3 lb beef roast, rump, sirloin, top, or chuck
  • 1 1/2 tsp salt
  • 1 tsp pepper
  • 1 tsp garlic powder
  • 1 tsp smoked paprika
  • 1/2 tsp onion powder
  • Worcestershire sauce to rub down


INSTRUCTIONS

  • Start by mixing the salt, pepper, smoked paprika, garlic, and onion powders together.
  • Give the roast a good rub down with Worcestershire sauce before applying the spice rub. The Worcestershire sauce helps the rub adhere to the roast and adds flavor.
  • There are a couple of ways you can smoke the roast, depending on how much time you have. 
  •  For the best results cook it in a smoker at around 215℉ for 4 to 6 hours. The roast is ready to come out when its internal temperature is between 145℉ to 155℉ degrees. 
  • Let the roast rest for 20 minutes, covered with foil, before slicing. 
  • Sprinkling a little salt on the slices before serving them to help brighten up the beef’s flavors. 


Source: umami.site

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