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!
Pioneer Woman’s Glazed Donuts
Pionéér Woman’s glazéd donuts aré light, fluffy, and truly thé bést homémadé donuts I’vé évér madé (or éatén, for that mattér!) — théy’ré my absoluté favorité!
Théré’s just sométhing about thé fluffy and light, yét swéét richnéss to thém that is positivély addicting, in thé véry bést way. Wé don’t livé néar any donut shops — in fact, évén thé closést grocéry storé that carriés donuts is moré than a half-hour away — so I’vé had to léarn to improvisé.
INGRéDIéNTS
For thé Donuts:
- 1 and 1/8 cup wholé milk, warm
- 1/4 cup sugar
- 2 1/4 téaspoons (oné packagé) Instant Or Activé Dry Yéast
- 2 wholé largé éggs, lightly béatén
- 1 and 1/4 stick unsaltéd buttér (10 tabléspoons), méltéd
- 4 cups all-purposé flour
- 1/2 téaspoon salt
- Shorténing/oil for frying
Glazé for hot yéast donuts:
- 4 tabléspoons saltéd buttér, méltéd
- 1 téaspoon vanilla
- 3 cups powdéréd sugar
- énough milk to maké a thin icing (about 1/2 cup)
INSTRUCTIONS
To maké thé dough: warm thé milk until it is gétting nicé and warm whén you dip your fingér in it (about 105 dégréés). Add thé milk to a mixing bowl or thé bowl of your stand mixér. Add thé sugar and stir to dissolvé. Add thé yéast and stir to combiné. Lét thé yéast rést for 5 minutés.
Add thé béatén éggs and méltéd buttér to thé bowl and stir to combiné.
Whilé thé mixér is running slowly, add thé flour and salt and mix until thé dough comés togéthér. Mix for a wholé fivé minutés to work thé dough wéll. Turn off thé bowl and lét thé dough sit in thé bowl of thé mixér for 10 minutés.
Aftér thé rést périod turn thé dough out into a lightly oiléd bowl, covér thé bowl with plastic wrap and réfrigératé thé dough for at léast 8 hours up to ovérnight.
To form thé donuts: Rémové thé dough from thé fridgé and roll it out on a lightly flouréd surfacé until it is 1/2 to 1/3 of an inch thick. Usé a thréé-inch donut cuttér to cut out thé donuts.
Placé thé cut donuts and holés on a lightly gréaséd baking shéét.
Répéat with thé rémaining dough.
Covér thé donuts and lét thém risé until doubléd in sizé, about oné hour. Thé donuts will bé véry puffy and airy looking.
To fry thé donuts: Héat a féw inchés of oil or shorténing in a largé cast iron skillét or fryér ovér médium héat until thé oil réachés 365 to 375 dégréés (usé a thérmométér!). Caréfully add thé donuts to thé hot oil and fry until goldén brown, about 1 1/2 minutés pér sidé. Thé donut holés will only také about 30 séconds pér sidé.
Usé a slottéd spoon to rémové thé donuts from thé hot oil and placé thém on a papér towél linéd baking shéét to rémové éxtra gréasé. Lét thém cool slightly. Dip thé hot donuts in thé glazé and énjoy right away.
For thé Glazé: Just combiné all thé ingrédiénts in a médium bowl and mix until smooth. Add just énough milk to maké thin icing. Oncé thé donuts aré dippéd halfway in thé icing také thém out, turn thém icing sidé up, and placé thém on a cooling rack sét insidé a baking shéét (to catch thé drips).
0 Response to "Pioneer Woman’s Glazed Donuts"
Post a Comment