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!

Simply Perfect Chocolate Sugar Cookies

Simply the perfect chocolate sugar cookies! With a soft & tender center, crisp edges, and no spreading whatsoever as they bake.

How was your Thanksgiving?
Mine was great!  I worked my heiny off, you guys.  I mean, wow.  Like, 3 straight days on my feet.  One recipe after another, nonstop.  I was a machine!  Everything was made from scratch, right down to the French-fried onions on the green bean casserole.  It was awesome, and there was TONS of food.  I had a great time in the kitchen with my mom and brother-in-law, and it was great to see everyone, especially my brand-new baby niece!


We got home on Friday evening, just in time to have a day and a half with the other side of my family.  So nice.  And Sunday I was all over town looking for the Christmas tree, and then setting it up and decorating it.  I’m so happy we are now officially in the Christmas season!

Simply the perfect chocolate sugar cookies! With a soft & tender center, crisp edges, and no spreading whatsoever as they bake.

INGREDIENTS
  • 1/2 cup (1 stick) cold unsalted butter, cut into small cubes
  • 1 tablespoon oil (light/neutral flavor such as canola, grapeseed, or light olive oil)
  • 2/3 cup granulated sugar
  • 1 teaspoon vanilla extract
  • 1/2 teaspoon kosher salt
  • 1 large egg
  • 1/4 cup cornstarch
  • 1/2 cup unsweetened cocoa powder
  • 1 1/4 to 2 cups all-purpose flour


INSTRUCTIONS
  1. Cream the butter, oil, sugar, vanilla and salt in the bowl of a stand mixer fitted with a paddle attachment, just until the mixture is smooth. (Do not over beat, as this will incorporate air into the dough, which may lead to spreading.)
  2. Add the egg and mix just until incorporated.
  3. Mix in the cornstarch, cocoa powder and 1 1/4 cups of the flour.
  4. Continue adding flour until the dough gathers itself into a ball and pulls away cleanly from the sides of the bowl.  (You may not need all the flour.)
  5. Preheat the oven to 375 degrees F.
  6. Roll the dough to a thickness of 3/8-inch, between two sheets of parchment paper. (Rolling pin rings will help you to achieve an even thickness.)
  7. Cut shapes using a cookie cutter.
  8. Bake on parchment-lined baking sheets for 9 to 12 minutes, or until the cookies look dry on the surface, and feel firm around the edges and set in the middle.
  9. Cool completely, then decorate with royal icing.

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