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!

Pull-Apart Sticky Buns

I've been making this recipe for, gulp, over 35 years. (It stuns me that I'm old enough to have made a recipe for that long!) It's a version of a recipe shared with me by my college friend, Penny. She got it from her mother. So, if ever there's been a recipe that is tried-and-true, it's this one.

This can be baked in several kinds of pans, but I have found a 9x13 pan results in the most evenly cooked, easy-to-serve sticky buns. The original recipe was made in a bundt pan--some would call it monkey bread that way. I used a bundt pan for many years--it's pretty and festive that way. Either will work, but I recommend a 9x13 pan if you're feeding a crowd--it's much easier to serve, and every piece is equally good and evenly cooked.



Speed scratch convenience. Speed scratch cooking is when you combine a good quality prepared food with fresh ingredients to make the recipe easier and faster to prepare. This recipe uses frozen bread dough. I suppose you could make your own bread dough from scratch, if that's your thing. But honestly, part of the beauty of this recipe is that you start with ready-made frozen bread dough and end up with something that is gooey and delicious and tastes like it is totally made from scratch. 

Make-ahead convenience. This is one of the best things about this recipe. It can be assembled the night before, left out to rise overnight, and baked for breakfast first thing in the morning. I've also discovered that I can make it 1 to 2 days ahead and let it do the rising INSIDE the fridge. That was a new concept for me--I thought that bread dough needed warmth in order to rise. Not so. It needs more time to rise in the fridge, but rise it does! I absolutely love being able to make this well in advance of when I will bake it. There is no preparation or stress that morning. It's perfect for serving to overnight guests, at brunches, and during the holidays. In our family, we have had these sticky buns every Christmas morning and other special occasions for, gulp, over 35 years.

Impress the heck out of your guests. I'm always a bit taken aback by the raves I get from guests when I serve this. It looks hard, and tastes like it must have taken a long time to make. So, they're impressed. When I admit how easy it is, everyone wants the recipe.

Now all that's left is digging in and eating these gooey delights. Serve them warm--they're so much better that way. 

These sticky buns have taken center stage on our Christmas breakfast table for 35+ years. For our family, it just wouldn't be Christmas without them. We often have them for other special occasion breakfasts and brunches, too. (In the photo below, I baked the sticky buns in a 9x13 pan and then inverted them into a larger 10x15 pyrex baking dish for serving at the table.)

Ingredients
  • 2 pounds frozen bread dough -- 24 Rhodes (or similar) frozen dough dinner rolls; or 2 1-lb loaves, partially thawed for 1/2 hour and each loaf cut into 12 even pieces
  • 1-1/2 cups sugar
  • 1/8 cup cinnamon
  • 3/4 cup butter, melted
  • 1 cup chopped pecans

Directions:
Generously butter a 9x13 baking glass or metal pan. Sprinkle nuts evenly in bottom of pan. Combine sugar and cinnamon in small bowl. Melt butter in separate bowl. Dip each roll or dough piece in butter, then in sugar mixture. Place dipped dough in pan in even rows. Mix remaining butter and sugar mixture; distribute evenly over the tops of the dough. Cover with plastic wrap that is coated with cooking spray. Let rise until doubled* and bake uncovered at 350 degrees for 40-50 minutes, until browned and done in center. (Cover loosely with sheet of foil in last 10-15 minutes, if browning too quickly.) 

DONENESS TIP: For extra insurance that the center sticky buns are cooked completely, insert an instant-read thermometer half way down a center bun. The internal temperature should be 190-200°.

Remove from oven, let cool in pan for 5 minutes and invert onto serving platter. Serve warm.

*MAKE AHEAD RISING METHODS (times may vary depending on the temperature of your house)
1. Assemble the night before, leave out to rise overnight (approx. 8 hours), and bake first thing in the morning.
2. Assemble 20-24 hours in advance, put in the fridge to partially rise. The next day, remove from fridge and allow to rise at room temperature for 2-3 hours before baking.
3. Assemble 44-48 hours in advance, put  in the fridge to rise. Remove from fridge and warm to room temperature for 30 minutes before baking.
4. FREEZER OPTION. Assemble pan, cover and freeze for up to a month in advance. Remove from freezer before you go to bed and let them rise overnight--ready to bake the next morning.

FOR A SMALLER BATCH. Cut all of the ingredients in half to make 12 sticky buns instead of 24. Assemble 12 sticky buns in an 8x8 baking dish, 9" deep dish pie plate, or 9" round cake pan (with 2" tall sides). Reduce the baking time by 5 minutes.


 Source:theyummylife.com

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