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 LEMON MERINGUE PIES

Something light, fresh and big enough to satisfy my sweet tooth yet small enough to make my moment of weakness feel innocuous. After a few experiments, I decided on mini vegan lemon meringue pies.


The combination of sour lemon curd, sweet meringue and crumbly pastry is to die for. No wonder that this classic French combination has become such a hit all over the world. If, like me, you have a weakness for miniatures, you’ll love this dessert as it’s damn cute!

VEGAN LEMON MERINGUE PIES



INGREDIENTS : 
PASTRY CASES

  • 180 g white all-purpose flour, sifted
  • a pinch of salt
  • 1 tbsp icing sugar
  • 60 ml / 4 tbsp olive oil

LEMON CURD

  • 80 g / just over ½ cup cashews (soak in water overnight)
  • 150 ml / ½ cup + 2 tbsp of freshly squeezed lemon juice
  • 5 tbsp / 75 ml maple syrup or sugar to taste
  • 2 level tsp cornflour / cornstarch
  • pinch of turmeric (for colour, optional)

MERINGUE

  • ½ cup / 120 ml aquafaba / chickpea water*
  • 125 g / ½ cup + 2 tbsp fine caster sugar
  • ½ tsp white wine vinegar (optional)

INSTRUCTIONS :



PASTRY CASES

  • Combine sifted flour and icing sugar in a large bowl. Add olive oil and rub it into the dry ingredients with your hands. Finally, add water – be careful, do it gradually – how much water you’ll need depends on how absorbent your flour is. Combine all the ingredients into a dough gently, but do not knead. Wrap it in a piece of cling film and chill in the fridge for 30 mins.
  • Remove the dough from the fridge and divide into 10 portions. Roll each portion out between two sheets of baking paper until you get a rough circle, about 2 mm in thickness. Place the rolled-out dough over the ramekin and gently line the inside of the ramekin with it. Trim the excess pastry with a sharp knife. Pierce the bottom of the ramekin with a fork a few times and put the first ramekin into the fridge. Repeat with the remaining ramekins / moulds.
  • Chill all the pastry-lined ramekins in the fridge for about 60 mins.
  • 45 min into pastry chilling time, preheat the oven to 175° C / 350° F. Line the pastry cases with pieces of baking paper and fill with baking beads or rice.
  • Blind bake the pastry for 20 mins, then remove the beads and bake for another 15 mins. Cool pastry cases down completely before filling them.

LEMON CURD

  • Rinse soaked cashews and place them in a blender with 150 ml of lemon juice and maple syrup if using. Blitz several times until you get a completely smooth liquid.
  • Pour cashew and lemon mixture into a small pot. Warm the mixture up gently stirring constantly so it doesn’t burn. If using sugar instead of maple syrup, add about 4 tablespoons of sugar into the pot and allow it to melt in. Taste the mixture and add more sugar if necessary – remember that you’ll probably want your curd to retain some tang to contrast with the sweet meringue nicely.
  • Mix 2 tsp of cornflour with 1 tbsp of water in a small bowl and add this mixture to the warm lemon curd mixture. Bring the mixture to the boil gently (stirring the whole time) and allow it to bubble for two minutes to let it thicken (the mixture will thicken further as it cools).
  • Finally, add a pinch or two of turmeric to the warm mixture to give the curd a pale yellow colour. Be very careful as I found that even as little as ¼ tsp will overpower the mixture! You can also skip this step if don’t have turmeric or don’t like it.

MERINGUE 
**whip it just before you are ready to make the pies

  • In a large, clean bowl (make sure there is no greasy residue, it is best to use a glass bowl for this) beat chickpea water with an electric whisk or use a stand mixer until you get stiff peaks. You may want to add ½ tsp of vinegar to speed things up although I have been able to get stiff peaks without it too.
  • To test if whipped chickpea water is ready, gently turn the bowl upside down. If the mixture does not start sliding down, you can start adding sugar. Otherwise, keep on whipping until the mixture stays in the bowl when inverted.
  • Add sugar gradually, tablespoon by tablespoon, whipping well after each addition. By the time you’ve used up all your sugar the mixture should turn beautifully sticky and glossy – no different to an egg-based meringue, really.

HOW TO MAKE :

  • Fill cool pastry cases with a generous amount of (cooled) lemon curd.
  • Pipe meringue on top using a piping bag or a clean ziplock (again needs to be completely grease-free) bag with a cut-off corner.
  • Toast the meringue under a hot oven grill. It will only take about 2 minutes but watch the pies like a hawk as they can go from light brown to burnt in seconds. They may also need rotating after a minute if your oven burns a bit hotter at the back, like mine does. Alternatively you can use a blow torch if you own one.
  • Let meringue pies stand for at least an hour after toasting the meringue so that it stabilises. Consume on the day – I had some of mine the next day and they were still nice but definitely nicer on the day they were made.


Recipe Adapted : VEGAN LEMON MERINGUE PIES @ lazycatkitchen


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