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!
No Bake Summer Orange Creamsicle Cheesecake Recipe
NO BAKE SUMMER ORANGE CREAMSICLE CHEESECAKE – is a light dessert recipe that is perfect for summer. This amazing no bake cheesecake is sure to become your new favorite treat!
No Bake Summer Orange Creamsicle Cheesecake is one of my favorites for summer parties. You can make it easy and for a short time you can get perfect light taste. Moist, tangy and delicious this easy No Bake Summer Orange Creamsicle Cheesecake is perfect cake to celebrate the warm weather and family fun.
NO BAKE SUMMER ORANGE CREAMSICLE CHEESECAKE - is a light dessert recipe that is perfect for summer. This amazing no bake cheesecake is sure to become your new favorite treat!
INGREDIENTS
- For Oreo crusts:
- 2 ½ cups Golden Oreo cookie crumbs, about 26 Oreo cookies
- 6 tablespoons unsalted butter, melted
- For cheesecake filling:
- 16 oz. cream cheese, softened
- 2 cups heavy cream
- 1 cup powdered sugar, divided
- 3.3 oz. box orange flavored gelatin (like Jello)
- 1 cup boiling water
- 1 Orange (zest of one orange)
- ½ teaspoon Orange extract
- Orange slice, for garnish
INSTRUCTIONS
- To make crust:
- Ground whole Oreo cookies with the filling in a food processor to make fine crumbs, add melted butter and blend until evenly moistened
- Press crumb mixture onto the bottom of the prepared 9-inch springform pan by lightly greasing the edges of the pan with cooking spray, set in the freezer to firm while making cheesecake layer
- To make cheesecake layer:
- In a large bowl place orange Jello, add 1 cup boiling water and stir to dissolve completely, set aside
- Zest orange and set aside
- In medium bowl, mix cream cheese and ½ cup powdered sugar until smooth and creamy
- In separate bowl, mix heavy cream until soft peaks form, add ½ cup powdered sugar, orange extract and continue mixing until stiff peaks form
- Add ½ of whipped cream mixture to cooled orange gelatin add orange zest and whisk to blend, set aside
- Fold remainder of whipped cream mixture into cream cheese mixture
- Spread the cream cheese mixture over the Oreo crust then gently spread orange whipped cream mixture over cream cheese layer
- Set in the fridge to firm
- Refrigerate for at least 3-4 hours
- When the topping is set and cooled run a thin knife around the sides and remove the springform pan sides
- Before serving top with more whipped cream and arrange fresh orange slices if desired
0 Response to "No Bake Summer Orange Creamsicle Cheesecake Recipe"
Post a Comment