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!

Blueberry Ricotta Pound Cake

Blueberry Ricotta Pound Cake

It may not be berry season, but I've been eating a lot of fresh blueberries lately, often just with a bit of yogurt. Well the craving hit for something sweet, and so this moist ricotta pound cake bursting with berry goodness was formed. I am sharing this just in time for Valentine's Day. It is satisfying anytime of year, any day of the week of course. My husband and I enjoyed it for breakfast, lunch, dessert and for a late night snack. It's really not too sweet either, with most of the sweetness coming from the berries. Stored in an airtight container, it stays fresh for a few days.

  • 1 1/2 cups spelt or all-purpose flour
  • 1/4 cup cake or pastry flour
  • 2 1/2 teaspoons baking powder
  • 1 tablespoon poppy seeds (optional)
  • 1/2 teaspoon sea salt
  • 3/4 cup unsalted butter, softened
  • 1 cup ricotta cheese
  • 1 cup granulated sugar
  • 1/4 cup coconut or brown sugar
  • 3 large eggs
  • 1 1/2 teaspoons vanilla
  • 1 tablespoon grated lemon zest
  • 1 1/4 cup blueberries
  • Preheat an oven to 350°. Butter a standard 9-inch loaf pan and set aside.
  • In a medium bowl, combine the flours, baking powder, poppy seeds if using, and salt.
  • In a large bowl, beat together the butter, ricotta and sugars until fluffy — if you are using an electric mixer, this should take about 3 to 4 minutes. Add the eggs, one at a time, beating after each addition. Stir in the vanilla and lemon zest.
  • Stir the dry ingredients into the butter and egg mixture until just combined.
  • Coat the berries with a bit of flour and gently fold them into the batter.
  • Transfer the batter to the prepared pan and spread it evenly. Bake for about 70 minutes or until a cake tester inserted into the middle of the cake comes out clean. Remove from the oven and let the cake sit in the pan for 15 to 20 minutes. Gently run a knife along the edges of the cake and transfer to a wire rack to cool.
Makes 1 9 × 5 inch cake

Blueberry Ricotta Pound Cake


Halaman Berikutnya

Subscribe to receive free email updates: