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 SHORTBREAD COOKIES (COOKIE PRESS)

Shortbread cookies are simple and classic buttery Christmas cookies that melt in your mouth.

These easy cookies are made using a cookie press to create perfect holiday bites.

High quality butter and vanilla will produce the best results.

Everyone has that one Christmas cookie that just tastes like the holidays… this is mine!

When I bite into one of these delicious shortbread cookies, it just brings me back to my Grandma’s kitchen filled with Nanaimo bars, sugar cookies and these beauties.

Shortbread cookies are actually very simple to make and require ingredients you likely already have on hand!

They are buttery, not overly sweet and literally melt in your mouth.

This recipe uses a cookie press to press these out.

If you don’t have a cookie press, you can grab one on Amazon or even just roll small balls and flatten them with a fork!

I am lucky enough to have an old vintage cookie press that I’ve had for years.  It creates the same beautiful cookies my grandma used to make!

Keep in mind that although these cookies use a cookie press, these are shortbread cookies and not a spritz cookie.  The texture and flavor are different as spritz cookies generally contain an egg.

Shortbread cookies are simple and classic buttery cookies that melt in your mouth.  These easy cookies are made using a cookie press to create perfect holiday bites.  High-quality butter and vanilla will produce the best results.

INGREDIENTS:
  • 1 cup unsalted butter, softened
  • 1/2 teaspoon vanilla
  • 1/2 cup powdered sugar
  • 2/3 cup cornstarch
  • pinch of salt
  • 1 1/2 cups all purpose flour

DIRECTIONS:
  1. Preheat oven to 350 degrees.
  2. Mix butter with a wooden spoon until smooth.
  3. Add vanilla & powdered sugar and continue mixing.
  4. Stir in cornstarch and flour dough.  Mix until dough is well combined.
  5. Place dough into cookie press and press onto an ungreased pan (Or you can make small balls about 3/4″ and press flat with fork). Add sprinkles or colored sugar if desired.
  6. Bake 9-11 minutes or just until done. Immediately transfer to a wire rack to cool.

NOTES:
Note:  This recipe has been tested and updated to provide the best results.  These cookies can be made using a mixer however, mixing the dough by hand creates the best texture.

Recipe Source:spendwithpennies.com

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