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!

Perfect Yeast Doughnuts–Sugar, and Filled (with Jam, Nutella or Cream)

Perfect yeast doughnuts are easy to make at home if you have the right recipe. You now have that recipe in your hands (or on your desk). What are you waiting for?
The best recipe you'll ever find for light and fluffy yeast doughnuts! I promise!

Ingredients
  • 6 tbsp (90 ml) water
  • 5 oz buttermilk (150 ml) (at room temperature)
  • 1 egg, beaten (at room temperature)
  • 2 oz (57 g) butter, melted
  • 16 oz (454 g) all-purpose or bread flour
  • 2 oz (57 g) sugar
  • 1 tsp salt
  • 1 1/2 tsp (3.5 g) regular or quick-rise yeast (one and a 1/2 teaspoons)
  • oil for frying (I use sunflower or grapeseed or a combination)
  • (sugar for coating the doughnuts)
  • (jam, Nutella and or whipped cream for filling, if desired)


Instructions
  1. FOR BREAD MACHINE:
  2. Place the water, buttermilk, beaten egg and melted butter in the bread machine pan, then add the dry ingredients, except for the yeast. Make a small indentation in the dry ingredients, then add the yeast. Set the bread machine on the ‘dough’ setting.
  3. FOR STAND MIXER WITH DOUGH HOOK, OR BY HAND:
  4. Place the dry ingredients in a bowl. Put 6 tbsp of lukewarm water in a cup and sprinkle the yeast on top, set aside for about 5 minutes, until the yeast begins to react (you can add a pinch of sugar to help it). Make a well in the center of the dry ingredients, then pour in the buttermilk, egg, melted butter and yeast mixture. If using a stand mixer, run with the dough hook until a dough forms then continue for about 5 minutes. By hand, knead for about 10 minutes. Cover and set aside until at least doubled in size.
  5. BOTH BREAD MACHINE, STAND MIXER/HAND INSTRUCTIONS FOLLOW BELOW:
  6. Once the dough has doubled, place it on a floured surface and knead lightly. Divide it in half, keeping half the dough covered, so it doesn’t form a skin. With a rolling pin, roll out half of the dough to about 1/2″ thickness. Cut with a round, sharp cookie cutter (about 3″ diameter) then make the holes with a smaller cookie cutter (about 1″ diameter), saving the holes.
  7. Place each doughnut on a piece of parchment or waxed paper, then place on a cookie sheet. Put the tray in the oven (turn it on for 1 minute, SET A TIMER, then turn it off again, just to make it barely warm).
  8. Next, boil some water and pour it into a measuring jug. Place the jug of water in the oven with the tray of doughnuts (this will create steam will keep a skin from forming). With the remaining dough, divide into quarters, then divide each piece in half to make 8 equal amounts. Roll each piece of dough into a smooth ball, and place on parchment or waxed paper pieces and place on a cookie sheet; place in the oven with the other doughnuts to rise until doubled in size.
  9. Heat the oil to about 350ºF (180º). If you don’t have a thermometer, test the oil with a doughnut hole: if it doesn’t start frying immediately, the oil is too cold, if the hole turns brown right away, the oil is too hot. Adjust the heat accordingly.
  10. Drop the doughnuts into the hot oil using the paper to carefully lower them into the oil. Turn them over as soon as they become golden brown on the underside, and remove them and place on a paper towel lined platter once they are ready.
  11. When the doughnuts have cooled, roll them in sugar to coat evenly. If you choose to fill the large doughnuts, push a skewer into the center of the doughnut to make a hole, then place some room temperature jam, or slightly warmed Nutella into a piping bag and pipe the filling into the doughnut.
Recipe Adapted From christinascucina.com

Notes
-This recipe requires the use of a scale. Please do not attempt to make these without one, as you'll most likely be disappointed.

-Special equipment: a kitchen scale, parchment paper, cut into about 4″ squares (smaller pieces for doughnut holes) and a pot, deep fryer, or wok.

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