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!

Chocolate Chip Cookie Magic Bars

I’ve always loved Seven Layer Bars or Magic Bars.

Same recipe but people call it by different names depending on where they live.
The bars are super soft, gooey, decadent, and have an amazing amount of texture and different flavors in every bite.

It’s a one-bowl, no mixer recipe that’s fast, easy, and goofproof. Waiting for them to cool is the hardest part.

I’ve always loved Seven Layer Bars or Magic Bars. Same recipe but people call it by different names depending on where they live. The bars are super soft, gooey, decadent, and have an amazing amount of texture and different flavors in every bite.It’s a one-bowl, no mixer recipe that’s fast, easy, and goofproof. Rather than making the bars with a classic graham cracker crust, I made a chocolate chip cookie crust. Chocolate chips boost the overall chocolate factor, and instead of traditional butterscotch chips I used peanut butter chips. The coconut adds chewiness and texture while the creamy sweetened condensed milk coats the ingredients and gives the bars their signature gooey factor.

INGREDIENTS:
  • 1/2 cup unsalted butter, melted
  • one 13.6-ounce package Pamela’s Chocolate Chunk Cookie Mix
  • 1 large egg
  • 1/2 cup semi-sweet chocolate chips
  • 1/2 cup peanut butter chips (butterscotch chips may be substituted)
  • 1 cup sweetened shredded coconut flakes, measured loosely not packed
  • about two-thirds can (14-ounce) sweetened condensed milk (eyeball it)

DIRECTIONS:

  1. Preheat oven to 350F. Line an 8-by-8-inch baking pan with aluminum foil, spray with cooking spray; set aside. Do not skip lining your pan because clean-up will be more difficult.
  2. To a large, microwave-safe bowl add the butter and heat on high power to melt, about 1 minute.
  3. Add the cookie mix, egg, and stir to combine.
  4. Turn dough out into prepared pan and using a spatula or your fingertips, create an even, smooth, flat crust.
  5. Evenly sprinkle with the chocolate chips, peanut butter chips, and coconut.
  6. Evenly drizzle sweetened condensed milk over the top.
  7. Bake for about 30 minutes (I baked 27), or until lightly golden brown around edges and barely bubbling in the center, and the center is mostly set. Keep an extremely close eye on bars in the final 10 minutes of baking because coconut can go from raw-looking to burnt in one minute. If necessary, tent the pan (cover pan with a sheet of foil) in the last 5 minutes of baking to help prevent the coconut from burning if center isn’t quite set but coconut is looking browned enough.
  8. Place pan on a wire rack and allow bars to cool in pan for at least 2 hours, or overnight, before slicing and serving. Bars firm up and will look less ‘juicy’ as they cool, however even when fully cooled and set, they’re very moist and juicy. Bars will keep airtight at room temperature for up to 1 week, or in the freezer for up to 6 months.
Recipe Source:averiecooks.com

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