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!
MOCHA ALMOND FUDGE CHEESECAKE
This double layer Mocha Almond Fudge Cheesecake is a luscious salute to one of the most popular ice cream flavours ever. So incredibly delicious!
Mocha Almond Fudge Cheesecake RecipeThis double layer Mocha Almond Fudge Cheesecake is a luscious salute to one of the most popular ice cream flavours ever. So incredibly delicious!
Ingredients- ½ cup whipping cream
- 1½ tbsp instant espresso powder
For the Oreo cookie crumb crust- 1⅓ cups Oreo cookie crumbs
- 3 tbsp sugar
- ⅓ cup melted butter
For the cheesecake layers- 1 ½ pounds cream cheese three 8 ounce packages
- 1 ¼ cups sugar
- 3 eggs
- 1 tsp vanilla extract
- ¾ cup whipping cream
- 1 ½ squares unsweetened baking chocolate melted (In a pinch you can substitute 1/2 cup cocoa but add another ¼ cup whipping cream)
- espresso cream mixture prepared earlier
For the ganache topping- 1/4 cup whipping cream
- 3/4 cup semisweet or dark chocolate chips
- 1/2 cup toasted slivered almonds
InstructionsTo prepare the Oreo cookie crumb crust- Line the bottom of a 9 or 10 inch spring form pan but do not grease the sides.
- Mix together the cookie crumbs butter and sugar and press evenly into the bottom of the prepared spring form pan.
To prepare the cheesecake layers- Heat the ½ cup of whipping cream almost to boiling. Dissolve the espresso powder into the cream and set aside to cool to room temperature. This will be added to the cheesecake batter later.
- Cream together the cream cheese and sugar for a few minutes until well combined.
- Add the eggs one at a time, beating well after each addition.
- Blend in the vanilla extract and 3/4 cup cream.
- Divide the cheesecake batter into two equal portions. To the first half stir in the melted chocolate and pour onto the prepared cookie crumb base.
- To the second half of the batter blend in the cooled espresso and cream mixture that was prepared earlier.
- Carefully spoon this slowly over the chocolate layer already in the spring form pan.
- Bake in a bain marie at 300 degrees F for 60-70 minutes. (Oven temperatures will vary slightly. Mine takes the full 70 minutes and you can go to 75 if you feel you need to.)
- Don't be an compulsive oven door opener! Don't open it at all in the first hour.
- The cheesecake does not have to brown at all on top in order to be fully baked; the surface of the cheesecake should lose any shine when the cake is properly baked. It can still be slightly wobbly just at the center at this point.
To prepare the ganache top- Simply melt together the cream and chocolate in a double boiler. Take it just to the melting pint. You don't want to over heat this mixture.
- Pour over the cooled cheesecake or, to create Ganache lace effect, cool slightly and spoon into piping bag fitted with a number 3 tip (or into a Ziploc bag with the corner snipped off leaving an opening about the width of a pencil lead.) Pipe over the entire cake in a circular, overlapping swirling pattern, repeating coverage all over the cake until all Ganache glaze is used.
- Garnish with the toasted slivered almonds.
0 Response to "MOCHA ALMOND FUDGE CHEESECAKE"
Posting Komentar