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 FUNFETTI CUPCAKES.
It’s kind of getting annoying, right? Look at me! I’m obsessed with sprinkles! Wah wah wah. I need attention. Yeah. Not cool. I may as well just slap on some glitter eyeshadow and tease my hair. But in reality, I’m so obsessed with sprinkles because now that I’m in my mid-to-late (read: really late) 20s, it’s not so appropriate for me to be walking around sporting the newest shade of Urban Decay and blinding folks with glistening flecks from my lids. Um… what would you rather have? Me wearing loose sparkles on my eyes or a compulsion to bake you colorful vanilla cakes?
Don’t mind my crumbs. I’m messy. So if you feel like creaming some butter and scooping some flour, you’re in for a treat. My favorite part? Different sprinkles. Wowza. Sometimes I use the regular old things – you may refer to them as jmmies, but I just can’t get behind that. Other times I use the nonpareils, which I love because they have super bright, fun colors. If you haven’t noticed, I like bright colors. And sprinkles. And glitter. And bacon. Okay I’m done.
INGREDIENTS:
Homemade Funfetti Cupcakes
- 1/2 cup butter
- 1 cup sugar
- 2 whole eggs
- 1 tablespoon vanilla extract
- 1 1/2 cups flour
- 1 teaspoon baking powder
- 1/3 cup milk
- 1/3 cup assorted brightly colored sprinkles + more for top of frosting
Vanilla Buttercream
- 2 sticks of butter, softened
- 2 1/2 cups powdered sugar
- 1 tablespoon vanilla extract
- 1 tablespoon of milk, if needed
DIRECTIONS:
Homemade Funfetti Cupcakes
Preheat oven to 350 degrees F. Cream butter and sugar in the bowl of an electric mixer until fluffy, about 3 minutes. Add eggs and vanilla and beat until combined. Combine dry ingredients in a bowl. Add half of the dry ingredients, mixing until just combined. Add the milk. Once mixed, add remaining dry ingredients. Fold in assorted sprinkles. Pour into cupcake tins and fill 2/3 of the way full. Bake for 18-20 minutes. Let cool, then frost.
Vanilla Buttercream
Cream butter in the bowl of an electric mixture until completely smooth and creamy. With the mixer on low speed, add in powdered sugar slowly. Gradually increase mixer speed and add vanilla, then beat for 2-3 minutes, scraping down sides and bottom of the bowl. If frosting is too thick, add milk 1 teaspoon at a time until desired consistency is reached If it’s too thin, add sugar gradually until it thickens. Frost cupcakes and top with sprinkles.
0 Response to "HOMEMADE FUNFETTI CUPCAKES."
Post a Comment