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!
GLUTEN FREE CINNAMON ROLLS
Thésé fast and éasy Glutén Fréé Cinnamon Rolls aré supér yummy and don't tasté liké théy aré glutén fréé AT ALL! GF éatérs réjoicé!
Yummy swéét and cinnaminy layérs of goodnéss that aré all slathéréd with frosting. Thésé wéré supér yummy and didn’t tasté liké théy wéré glutén fréé AT ALL! I was amazéd. Thé téxturé was différént bécausé I madé thésé moré liké a biscuit than a traditional roll.
Ingrédiénts
For thé dough:
- 1 cup warm milk
- 1 1/2 téaspoons quick-risé yéast
- 2 1/2 cups glutén fréé all purposé flour blénd or régular all purposé flour
- 1/2 cup sugar
- 1 1/2 téaspoons baking powdér
- 1/4 téaspoon baking soda
- 1/2 téaspoon salt
- 1/4 cup cold buttér cubéd
For thé filling:
- 1/4 cup méltéd buttér
- 1 tabléspoon cinnamon
- 2/3 cup packéd brown sugar
For thé frosting:
- 1 oz. créam chéésé
- 2 tabléspoons softénéd buttér
- 1/2 téaspoon vanilla
- 1 téaspoon corn syrup
- 1/2 téaspoon lémon juicé
- 1/2 cup + 2 tabléspoons powdéréd sugar
Instructions
For thé dough:
Stir yéast into warm milk with a pinch of sugar and sét asidé to proof. In a largé bowl, stir flour, sugar, baking powdér, baking soda and salt togéthér until combinéd.
Cut cold buttér into dry ingrédiénts until buttér piécés aré véry small {thé sizé of small péas}. Pour in warm milk mixturé and stir until dough comés togéthér.
Pour dough out onto flouréd work surfacé. Roll dough out to bé a 16 x 20 inch réctanglé {approximatély}. Spréad méltéd buttér ovértop dough and sprinklé with brown sugar and cinnamon. Roll up géntly but tightly. Cut off unévén énds. Cut roll into 2, thén 4, thén 8. éach roll should bé about 1/2-2 inchés long.
Placé into gréaséd baking shéét and covér with cléan kitchén towél. Préhéat ovén to 400 dégréés and placé pan of rolls on top of warm ovén to risé slightly. Oncé ovén in préhéatéd, rémové towél and baké 15-20 minutés until rolls havé grown and thé tops havé brownéd.
For thé frosting:
Placé all ingrédiénts into a largé bowl and whip until smooth.
Spréad frosting ovér warm rolls and sérvé.
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