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!
Homemade Cinnamon Roll Pancakes with cream cheese glaze
Homemade Cinnamon Roll Pancakes with cream cheese glaze
If you are looking for a fluffy pancake recipe that will blow your tastebuds out of the water, this Cinnamon Roll Pancakes Recipe are just what you need to make. Homemade pancake mix with cinnamon and sugar swirls. It is like a cinnamon bun but better because it is in pancake form and so much easier to make then homemade cinnamon buns.
Cinnamon Roll Pancakes
If you are looking for a pancake recipe that will blow your tastebuds out of the water, this Cinnamon Roll Pancakes Recipe are just what you need to make.
Course Breakfast
Cuisine American
Keyword Cinnamon Roll Pancakes
Prep Time 5 minutes
Cook Time 6 minutes
Total Time 11 minutes
Servings 3
Calories 812 kcal
MidgetMomma
Ingredients
- 4 tablespoons unsalted butter melted
- 1/3 cup packed light brown sugar
- 1/2 tablespoon ground cinnamon
- 4 tablespoons 1/2 stick unsalted butter
- 2- ounces cream cheese at room temperature
- 3/4 cup powdered sugar
- 1/2 teaspoon vanilla extract
- 1 cup all-purpose flour
- 2 teaspoons baking powder
- 1/2 teaspoon salt
- 1 cup milk
- 1 large egg lightly beaten
- 1 tablespoon canola or vegetable oil
Instructions
- Cinnamon Roll filling Directions:
- Stir together the butter, brown sugar and cinnamon in a medium bowl.
- Scoop the filling into a quart-sized heavy zip baggie or a squeeze bottle and set it aside.
- Cream cheese glaze directions:
- heat the butter over low heat in a small sauce pan until melted.
- Turn off the heat and whisk in the cream cheese until it is almost smooth.
- Sift the powdered sugar into the pan, stir and add in vanilla extract.
- Set the pan aside while you make the pancakes.
- NOTE: If you would like to have a brown tinted glaze you can by cooking the butter a little longer to give it the brown tint. It will taste the same no matter which way you cook it
- Cinnamon Roll Pancakes Directions:
- In a medium bowl, whisk together the flour, baking powder and salt.
- Whisk in the milk, egg and oil, just until the batter has combined.
- Preheat your pan or griddle over medium heat.
- Pour about 1/3 cup of the batter to pan and spread it to make a nice circle.
- Reduce the heat to low. Snip the corner of your bag of cinnamon filling and squeeze the filling into the open corner. When your pancake begins to form bubbles, swirl in the filling.
- Heat pan on LOW HEAT. Cook the pancake 2 to 3 minutes, or until the bubbles begin popping on top of the pancake and it’s golden brown on the bottom. Flip the pancake over. Cook an additional 2 to 3 minutes, until the other side is golden as well.
Recipe Notes
If you would like to have a brown tinted glaze you can by cooking the butter a little longer to give it the brown tint. It will taste the same no matter which way you cook it.
This Cinnamon Roll pancakes recipe makes small 9 pancakes. Size will depend on how much batter you use when making these pancakes.
If you are wanting to make a full meal double, triple ect the recipe according to how many people you are serving.
full recipe :
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