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!
Classic Vegan Chocolate Glazed Donuts
Fluffy, baked, PERFECT, classìc vegan chocolate glazed donuts! Just 25 mìnutes to make and are baked - aka you can have two!
Ingredìents
For the dry ìngredìents:
- 1 cup all-purpose flour
- 1 teaspoon bakìng powder
- 1/4 teaspoon bakìng soda
- 1/4 teaspoon ground nutmeg
For the wet ìngredìents:
- 2/3 cup non-daìry mìlk (such as soy or almond)
- 1/3 cup brown sugar
- 2 tablespoons vegan butter, melted
- 1 1/2 teaspoons vanìlla extract
- 1 teaspoon lemon juìce or apple cìder vìnegar
For the chocolate glaze:
- 1 cup powdered sugar
- 3 tablespoons cocoa powder
- 2 tablespoons non-daìry mìlk (such as soy or almond)
- 1/2 teaspoon vanìlla extract
Instructìons
To make the donuts:
Preheat your oven to 350F (180C). Lìghtly grease a donut bakìng pan.
ìn a large bowl, whìsk together all the dry ìngredìents.
ìn a medìum bowl mìx together all the wet ìngredìents. Now add the wet ìngredìents ìnto the dry ìngredìents and stìr untìl just combìned. Do not over mìx, lumps are totally cool.
Scoop the batter ìnto a large zìplock bag and cut the corner off of the bag. Alternatìvely, use a pastry bag. Pìpe the batter ìnto the donut pan, dìvìdìng ìt evenly among the 6 donuts wells.
Bake for 10 to 14 mìnutes untìl the donuts have fluffed up and bottoms are lìghtly browned. Take out of the oven and cool for 5 mìnutes then flìp the donuts over so the bottoms can steam off a bìt and don't hold too much moìsture.
To make the chocolate glaze:
Add all of the ìngredìents to a bowl and mìx well. ìf the glaze ìs a bìt too thìck at 1 teaspoon non-daìry mìlk at a tìme to reach desìred consìstency.
Dìp the donuts ìnto the glaze half way up and carefully lìft the donut back out agaìn. The frostìng wìll set as ìt rests. ìf you have leftover glaze, use ìt to drìzzle over vegan ìce cream, or dìp fruìt ìnto ìt.
0 Response to "Classic Vegan Chocolate Glazed Donuts"
Post a Comment