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!
Easy cherry turnovers
Easy cherry turnovers
Ok, you caught me.
As you know, I’m usually a pretty big advocate for home cooking with organic and non-processed ingredients. But sometimes, I make exceptions. I know, you can buy these in a convenient little box, straight from your grocery store. You can assemble, bake and eat them in under 30 minutes, but my version is just a little bit better.
Yes, I used crescent rolls from a can. But I used a homemade, canned cherry pie filling and my own glaze, so we’ll just say that these are semi-homemade. And just semi-processed.
But, they’re authentically tasty and worth making exceptions for.
Someone please validate me. Tell me it’s okay. Canned crescent rolls have their place, don’t they? And everything in moderation – even highly processed convenience foods? Sigh.
Ingredients
- 2 cans store-bought crescent rolls
- 1-1.5 cups cherry pie filling
- 1 cup confectioners sugar
- 2 Tablespoons heavy cream (or milk or half & half)
- ¼ teaspoon vanilla extract
Instructions
- Preheat oven to temperature specified on crescent roll package. (Ours was 375 degrees F).
- Prepare a large baking sheet with parchment paper or a silpat mat.
- Unroll the crescent roll dough and separate the triangles.
- Place a heaping tablespoon or so of cherry pie filling at the wide end of each crescent roll, and gently roll it up.
- Place on baking sheet, and bake according to package directions, 10-12 minutes or until golden brown.
- While baking, prepare the glaze.
- Combine confectioners sugar, cream and vanilla in a small bowl and whisk until smooth.
- The glaze should be thin enough to coat and run off a spoon, so add more sugar or liquid as needed to achieve desired consistency.
- Generously pour glaze over hot rolls, and enjoy warm.
0 Response to "Easy cherry turnovers"
Post a Comment