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!
Vegan Twinkies
Finally the final post in my vanilla cake series! Every time we have a family weekend at the cottage, my sister in law sends me recipe ideas that the whole family can enjoy (vegan and non). I was never that in to Twinkies, but it is a rather fun way to eat cake and frosting. She send me this recipe which looked good, but I wanted to make the traditional filling so it could be stable at room temperature. There is a little bit of wiggle room with this recipe. The problem I had was getting the bleedin' cakes out of the pan. No amount of greasing, flouring, etc. made it any easier, so I had to go with a more durable cake so it could get it out of the pan in one piece. If you are better at getting cakes out of a pan than I am, you can add up to 2 tbsp more milk and up to 2 tbsp more sugar (see pic below). INGREDIENTSMakes 8Cake- 100g cake or pastry flour- 50g all purpose flour- 3/4 tsp baking soda- 1/2 tsp baking powder- 1/4 tsp salt- 1/2 cup soy milk- 1 tbsp lemon juice- 1 tbsp orange juice- 1/2 cup sugar- 1/3 cup oil- 1/2 tsp vanilla extract- 1/2 tsp lemon extract- 1/4 tsp almond extractFilling- 2 tbsp all purpose flour- 1/2 cup soy milk- 3/4 cup icing sugar- 1/4 cup cold margarine- 1/4 cup coconut oil, room temp- 1/4 tsp salt (or to taste)- 1 tsp vanilla extractMETHODPreheat oven to 350 degreesCake1. Sift together dry ingredients in a medium bowl.2. In a separate bowl, whisk together soy milk, orange juice, and lemon juice. Whisk in sugar, oil, and extracts until smooth and consistent. 3. Add wet ingredients to dry and gently whisk until smooth. Divide batter evenly in the separate sections in the pan (60g per section).4. Bake for 16-20 mins, or until golden and baked through. 5. Allow cakes to fully cool before removing from pan. Filling1. While cakes are baking and cooling, make your filling. Whisk flour into the soy milk in a small saucepan. Place over medium heat and whisk until thick and cooked through. Set aside to fully cool.2. When flour mixture is cool, use a hand mixer to beat in the icing sugar, the margarine, coconut oil, and salt. When fluffy, beat in extract. Place in fridge to cool down for a least 30 mins. 3. Put filling into a piping bag fitted with a #5 tip (or similar). Poke the tip into the underside of the Twinkies in three or four spots along its length and gently squeeze in filling. You will feel the Twinkies swell. Don't over fill. These cakes have the additional soy milk and sugar. You can see that they are more tender (and are overfilled) but that has resulted in some breakage getting them out of the pan, and some splitting when they were filled. They tasted amazing, though.
more recipes @ vegandad.blogspot.com
0 Response to "Vegan Twinkies"
Posting Komentar