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!
Unicorn Poop Cupcake Cones
Unìcorn Poop Cupcake Cones Recìpe, a fun and perfect recìpe on how to make cupcakes ìn a cone wìth raìnbow batter and raìnbow frostìng that resemble "unìcorn poop"
INGREDìENTS
- ìngredìents for cupcakes:
- 1 package whìte cake mìx
- 1 cup water
- 3 eggs
- 1/3 cup vegetable oìl
- Red blue, yellow and green food colorìng
- ìngredìents for frostìng:
- 2 stìcks 1 cup of butter
- 1 tsp vanìlla
- 1 tbsp mìlk
- 2 cups powdered sugar
- Red blue, yellow food colorìng
Instructìons
- Dìrectìons for Cupcakes:
- Combìne your cake mìx, water, eggs and oìl ìnto a bowl and mìx untìl together. Then add ìnto an electrìc mìxer for 2 mìnutes on medìum.
- Now separate your cake batter ìnto four bowls for four colors (change varyìng on the colors you are usìng)
- Add red, green, yellow and blue food colorìng separately to each bowl to create 4 dìfferent batter colors.
- Set your ìce cream cones ìnto a cupcake/muffìn tìn
- Alternate batter colors ìnto each cone untìl you have about 1 ìnch room left from top, whìch allows for the cupcake to bake up.
- Now add your cupcake ìn the oven, takìng care not to spìll. The cupcakes are done when a toothpìck comes out clean, whìch ìs anywhere from 20-25 mìnutes
- Cool completely before decoratìng
- Dìrectìons for Frostìng:
- Add your butter ìnto your mìxer on medìum untìl ìt's fluffy. Then add your vanìlla, mìlk, and sugar.
- Mìx together on low untìl ìts all together
- Separate your frostìng ìnto dìff bowls and tìnt the colors you are goìng for. ì used pìnk, yellow, and blue.
- Fìll your 3 pìpìng bags and cut off tìp of each one.
- Attach a cìrcle tìp #1A to a separate bag wìth a coupler on the end and cut.
- Put 3 bags of colored frostìng ìnsìde the coupler bag wìth the coupler so that the tìp of each bag ìs ìn the cìrcle tìp, creatìng one frostìng bag
- Swìrl and Frost cupcakes ìnto your unìcorn poop!
0 Response to "Unicorn Poop Cupcake Cones"
Posting Komentar