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!

ICED OATMEAL COOKIES

Soft and chewy Iced Oatmeal Cookies, perfect with a tall glass of milk!
Just seven more weeks until Christmas Eve!

When you think how quickly this year has flown by, Christmas is going to be here before we know it.  Think about all the events you have leading up to Christmas.  Thanksgiving, holiday parties, shopping, decorating, sending holiday cards, you name it.  I like to get as much down now as I can before the holiday rush so I can enjoy the season.

To help you plan your holiday cookie list, for the next six weeks I will be feature some of my holiday favorites in my third annual Countdown to Christmas Cookies series.  Each year I have done this I have featured some of my holiday favorites.  This year it’s all about my favorite classic holiday cookies. 

I am kicking it off with these classic Iced Oatmeal Cookies.  I heard they are Santa’s favorite. These cookies are simply delicious!  They have such great flavor and texture.  I have to admit, these are probably one of my top five all-time favorite cookies, no matter what time of year it is.  The are dangerously good, so beware once you start eating these you may have a hard time putting them down.  This is coming from experience. 

With the hustle and bustle of the holidays, these are super easy to make.  Just make the dough, drop, bake and glaze.  If you are going to any cookie exchange parties this year, I highly recommend making these. 

The gift of food is always the best present.  Make these cookies and place them in pretty packaging along with a recipe card.  They will make a lovely gift everyone will love. 

INGREDIENTS
  • 2 cups old-fashioned rolled oats
  • 2 cups all purpose flour
  • 1 tablespoon baking powder
  • ½ teaspoon baking soda
  • ½ teaspoon salt
  • 2 teaspoons cinnamon
  • ½ teaspoon ground nutmeg
  • 1 cup (2 sticks) butter, softened
  • 1 cup light brown sugar
  • ½ cup sugar
  • 2 large eggs
  • 1 teaspoon vanilla extract

Glaze
  • 2 cups confectioners sugar
  • 3 tablespoons milk

INSTRUCTIONS

  1. Preheat oven to 350 degrees. Spray baking sheets with cooking spray and set aside.
  2. Place rolled oats in a food processor and pulse for about 10 seconds until coarse.
  3. Mix oats with flour, baking powder, baking soda, salt, cinnamon and nutmeg.
  4. Using an electric mixer cream butter and sugars.
  5. Add in eggs one at a time then vanilla extract.
  6. Gradually add in flour mixture until combined.
  7. Roll dough into 2 tablespoon size balls and place on baking sheet spacing about 2 inches apart.
  8. Bake for 10-12 minutes until the bottoms begin to brown.
  9. Cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.
  10. Glaze
  11. Mix confectioners sugar and milk together in a medium bowl.
  12. Quickly dip tops of cookies into glaze and let excess drip off.
  13. Place back on wire rack until glaze sets.
  14. Store cookies in an airtight container.
NOTES
To have these cookies turn out flat, you don't want to over ground the oats, just a couple quick pulses in the food processor to break them up a bit. If the oats are finely ground, the cookies won't spread. You want to keep the oats in tact as they create texture.

Recipe Source:motherthyme.com
 

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