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!

Pumpkin Bread



My grandmother clipped this pumpkin bread recipe from a magazine over 50 years ago, and it is my most-cherished family recipe. One of my clearest childhood memories is baking the loaves with my mom and then carting them off to every neighborhood potluck and holiday party. Now I bake this pumpkin bread with my own kids and it’s just as wonderful today as it was back then. It’s easy to make — just a bit of mixing and stirring, pop it in the oven, and, in about an hour, you’ll have a house smelling of sweet autumn spices and two scrumptious, pumpkiny loaves.

This is the original recipe from my grandmother’s recipe box; as you can see, it has seen its share of spills!

WHAT YOU’LL NEED TO MAKE PUMPKIN BREAD


HOW TO MAKE PUMPKIN BREAD

Begin by combining the flour, salt, baking powder, baking soda, and spices. I like to add everything in neat little piles in case I lose track of what I’ve added.




Whisk well and set aside.



Combine the butter and sugar in a large bowl or in the bowl of an electric mixer.



Beat until just combined. It will look a little crumbly.



Add the eggs one at a time, beating well after each addition.



Continue beating for a few minutes until light and fluffy.



Add the pumpkin.



Beat until combined. It will look a little grainy — that’s okay.



Add the dry ingredients to the pumpkin mixture.



And beat on low speed until just combined.



Transfer the batter to loaf pans.



Bake for 65-75 minutes, or until a cake tester comes out clean.



Let the loaves cool in the pan for about 10 minutes, then turn out onto a rack to cool completely.



That’s all there is to it. Enjoy!



Kids love it, grown-ups love it…this pumpkin bread is hard to beat!
Servings: Makes 2 loaves
Prep Time: 20 Minutes
Cook Time: 65 Minutes
Total Time: 1 Hour 30 Minutes

INGREDIENTS

2 cups all-purpose flour, spooned into measuring cup and leveled-off
1/2 teaspoon salt
1 teaspoon baking soda
1/2 teaspoon baking powder
1 teaspoon ground cloves
1 teaspoon ground cinnamon
1 teaspoon ground nutmeg
1-1/2 sticks (3/4 cup) unsalted butter, softened
2 cups sugar
2 large eggs
1 15-oz can 100% pure pumpkin (I use Libby's)

INSTRUCTIONS

Preheat the oven to 325°F and set an oven rack in the middle position. Generously grease two 8 x 4-inch loaf pans with butter and dust with flour (alternatively, use a baking spray with flour in it, such as Pam with Flour or Baker's Joy).
In a medium bowl, combine the flour, salt, baking soda, baking powder, cloves, cinnamon, and nutmeg. Whisk until well combined; set aside.
In a large bowl of an electric mixer, beat the butter and sugar on medium speed until just blended. Add the eggs one at a time, beating well after each addition. Continue beating until very light and fluffy, a few minutes. Beat in the pumpkin. The mixture might look grainy and curdled at this point -- that's okay.
Add the flour mixture and mix on low speed until combined.
Turn the batter into the prepared pans, dividing evenly, and bake for 65 – 75 minutes, or until a cake tester inserted into the center comes out clean. Let the loaves cool in the pans for about 10 minutes, then turn out onto a wire rack to cool completely.
Fresh out of the oven,the loaves have a deliciously crisp crust. If they last beyond a day, you can toast individual slices to get the same fresh-baked effect.

Freezer-Friendly Instructions: The bread can be frozen for up to 3 months. After it is completely cooled, wrap it securely in aluminum foil, freezer wrap or place in a freezer bag. Thaw overnight in the refrigerator before serving.


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