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!

Gingersnap Pumpkin Pie Bites

Gingersnap Pumpkin Pie Bites
Instead of pumpkin pie this season, try this gingersnap pumpkin pie bites.
“It is nicer than bananas” were the words of my dad who tried to convince us to eat a pumpkin and I just never really liked it.
My dad wasn’t really convincing, and I still believe bananas are tastier, though the pumpkin seeds are great. I like the classic pumpkin pie and I like variations on a theme such as these delicious sweet morsels. A gingersnap pumpkin pie bite intrigued me, but kind of didn’t know what to expect. Will I like it? or not?
Curiosity this time didn’t kill the cat. The cat licked it’s whiskers and asked for the second bowl 🙂
For the gingersnap crust:
  • 2 cups gingersnap cookies, crumbed
  • 4 tablespoons butter, melted
  • 1/4 cup dark brown sugar
For the Pumpkin filling :
  • 1 can sweetened condensed milk
  • 1 can (15 oz) pumpkin puree
  • 2 eggs
  • 1 teaspoon cinnamon
  • 1/2 teaspoon nutmeg
  • 1/4 teaspoon ginger
  • 1/8 teaspoon salt
  1. Preheat the oven to 350°F.
  2. Line a 8x8 glass pan or light-colored metal baking pan with foil, (be sure to cover the sides, you are going to use this to lift the bites out of the pan), or you can use silicone pan.
  3. In a bowl, stir together the crushed gingersnap cookies, melted butter, and dark brown sugar until completely combined.
  4. Press the mixture evenly into the bottom of the prepared pan.
  5. Bake for 10 minutes in the preheated oven.
  6. Remove from oven and let cool completely while you prepare the filling.
  7. In a bowl combine sweetened condensed milk,pumpkin pure, eggs, cinnamon, nutmeg, ginger, and salt.
  8. Beat with an electric mixer until smooth.
  9. Pour mixture onto gingersnap crust.
  10. Bake on center rack at 350 degrees for 1 hour.
  11. Allow to cool for 20 minutes, then cut into bites and serve!


Halaman Berikutnya

Subscribe to receive free email updates: