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!


I can’t wait to share lots of tasty recipes with you (I’ve got a great list started!) that will have instructions for the Instant Pot or any electric pressure cooker as well as other methods in case you don’t own one. But you really should own one.

I should give you is Instant Pot Chicken Wings. This recipe will be excellent for time-savings, however the method has to produce BBQ wings as good (I’m thinking better even) as my slow cooker recipe.

These Chicken Wings from your Instant Pot or pressure cooker just might become your go-to, last-minute appetizer recipe. Ten minutes cooking time, 30 minutes start to finish!

A nice combination is to use barbecue sauce, hot sauce (Frank’s Buffalo Wing Sauce is true Buffalo wing flavor), and melted butter. See printable recipe for sauce and butter combination options for Buffalo Wings vs. BBQ wings.

Instant Pot Easy Chicken Wings {BBQ or Buffalo Style} Recipe 
Fall off the bone tender, juicy Chicken Wings in about 30 minutes, barbecue or Buffalo style- you can use any seasoning combination you like.

  • 4 lbs. chicken wings trimmed of fat and separated 
  • 2-3 tablespoons seasoned salt - like Cajun garlic powder, or any favorite seasoning mix
  • 1/2 cup cold water
  • 1/4 cup favorite barbecue sauce, see note regarding ratio of BBQ to hot sauce.
  • 1/2 cup hot sauce like Frank's Wing Sauce (if don't want heat, then just use 1 cup bbq sauce)
  • 1/4 cup melted butter, if making Buffalo wing sauce (see step 13 for when to use the butter)
  1. After the chicken wings have been trimmed and separated (if necessary), pat dry and place in a medium bowl.
  2. Sprinkle seasoned salt or garlic powder over wings and toss until covered.
  3. Place a trivet in the Instant Pot.
  4. Place the seasoned wings in Instant Pot or other tabletop electric pressure cooker, on the trivet. 
  5. Pour 1/2 cup cold water around the wings in the pot.
  6. For Instant Pot - Secure and lock the lid of the Instant Pot and turn the pressure to SEALING function. Select MANUAL operation and the pressure should automatically show as HIGH. Using the + or - button, select 5 minutes pressure cooking time. The Instant Pot will indicate as ON while the pressure is being built to the appropriate level, typically taking about 10 minutes for pressure to rise. Indicator will switch to 5 once ready and will count down from there.
  7. Meanwhile, set your oven on Broil HIGH and place the oven rack one above center position. Cover a baking sheet with aluminum foil and place a cooling rack on top of the foil-lined sheet. Spray the cooling rack with nonstick cooking spray. Set the sheet aside while the wings cook in pressure cooker.
  8. Once the wings have finished cooking in the pressure cooker, let pressure release naturally for 10 minutes, then turn the knob to the Venting position to release any additional steam. Remove lid.
  9. Place the wings in a large bowl and pour half of the sauce over the wings. Using a large spoon, toss the wings until all are covered with sauce.
  10. Arrange the wings on the wire rack and place in oven. Vent door and broil on each side until desired crispness is reached, 5 to 10 minutes. (You may want to rotate the sheet 1/2 way when turning the wings on second side)
  11. Remove wings from oven when crisp as you'd like. Place wings back in the bowl, pour remaining sauce over the wings, toss to coat. 
  12. Serve immediately with blue cheese dip, ranch dip, or as is. Accompany with carrot sticks, celery sticks, red pepper slices, etc. if desired.
For Buffalo style flavor: 
  • Use 1/2 cup hot sauce, 1/4 cup melted butter (1/2 stick), and 1/4 cup BBQ sauce. The BBQ sauce in this mixture is optional but it adds a nice tang that isn't too hot. Omit the BBQ sauce and increase hot sauce to 3/4 cup if you want fully classic Buffalo wing flavor and more heat.
For BBQ style flavor: 
  • Use either 1 cup BBQ sauce, or for a little more kick, mix 3/4 cup BBQ sauce with 1/4 cup hot sauce.


Halaman Berikutnya

Subscribe to receive free email updates:


Post a Comment