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!
Buttery Pecan Snowball Cookies
These are my absolute favorite cookies! I love them!!! LOVE THEM!!! These Buttery Pecan Snowball Cookies aka wedding cookies or Russian Tea Cakes will melt in your mouth. They are so easy! You will find that you have a full batch of cookies ready in under 45 minutes. How can you beat that!!
Look at those beauties. These Buttery Pecan Snowball Cookies are easy, quick to fix, DELICIOUS, and they freeze well. You may even have the ingredients in your house right now. They can be frozen ahead of time. I pack all my cookies in doubled Ziploc freezer bags and place them in sturdy glad-ware containers. When defrosting take them out of the containers frozen and place on serving trays or platters uncovered. Never allow them to defrost in the plastic and the containers. The condensation that builds in there will ruin the cookies.
Ingredients
- 1 cup butter softened
- 1/2 cup powdered sugar
- 1/4 teaspoon salt
- 1 1/2 teaspoon vanilla extract
- 2 1/4 cups flour
- 1 cup finely chopped pecan
- 1 cup powdered sugar for dusting
Instructions
- Preheat oven to 350 degrees
- In stand mixer cream butter and powdered sugar. Turn to low and mix in salt, vanilla, flour and pecans. Roll into one inch balls. Place on parchment covered baking sheets a few inches part. Bake for 11 minutes. Do not over bake
- Remove from oven and allow to cool just enough to handle them. Pour 1 cup powdered sugar in large Ziploc bag. Gently add 3-4 cookies at a time and roll them gently in the bottom of the bag. Use fork to scoop under each cookie and gently shake to remove excess powdered sugar. Place on cooling racks. Once completely cooled roll in powdered sugar bag again.
Notes
Makes 30-36 cookies
0 Response to "Buttery Pecan Snowball Cookies"
Posting Komentar