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!

SANTA CLAUS PRETZEL BITES

We’ve made a lot of Pretzel Bites over the years, but these Santa Claus Pretzel Bites are our all-time favorites.  And all you’ll need to make these adorable Christmas treats are pretzels and candy melts.   Sweet, salty and delicious and oh so very adorable … the ultimate combination for a winning Christmas recipe.
You will need:

  • Rold Gold Tiny Twists Pretzels
  • Wilton Red Candy Melts
  • Wilton White Candy Melts
  • Wilton Bright White Candy Melts
  • Handful of Semi Sweet Chocolate Chips
  • Plastic Sandwich Bags

You will need three colors of Wilton Candy melts to make these adorable Santa Claus Pretzel Bites.  Red for his hat and nose. White (which is more of an ivory color) for his face and Bright White for his hat brim and beard.  Place 25-30 of each (maybe a little less of the White) in sandwich bags.

Melt the candy melts in the microwave.  Start with 30 seconds, open the microwave and then check the candy melts. Massage the melts around in the bag. Then continue to melt at 10 second intervals until they are all completely melted.  Don’t melt all three of the colors at once.  Start with the red, you will need that first.

Intructions:
  1. Lay out the mini pretzels on a piece of foil or parchment paper.  We used Rold Gold Tiny Twists for our Santa Claus Pretzel Bites, they are a little bigger than the other mini pretzels we saw at our grocery store and we liked that.  But this decorating technique will work with any sized pretzel twist.  Place the pretzel on its side like a “C” or an “E”.  Snip off a very tiny piece on one of the bottom corners of the plastic sandwich bag.  Squeeze the melted red candy melt mixture into the top hole of the pretzel.  After that is filled, cover the top area to form the Santa Hat.
  2. I worked assembly line style.  I created all the Santa Hats and allowed them to dry before moving on to the next step.  If you work on a foiled covered cookie sheet, you can place the cookie sheet with the pretzel bites in the refrigerator for 5 minutes to speed up the drying process.
  3. Now melt the white candy melts.  You will use those for the Santa face.  The contrast between the white and bright white might feel slight but it is noticeable in the finished Santa Claus Pretzel Bite. Snip of a tiny corner of the sandwich bag and squeeze out enough white candy melts to cover the top portion of the remaining uncovered area of the pretzel as shown in the picture above. Allow this candy to cool and harden before moving on.  (I made 30 pretzel bites and by the time I finished add the face on the last one, the face area on the first one had already hardened.)
  4. Now it is time to melt the Bright White Candy Melts.  You will use them to create a white brim for Santa’s hat his beard.  Snip off a tiny corner of the sandwich bag as you did before and check out the diagram below to see how I applied the melted Bright White Candy Melts.
  5.  Add the brim of the hat over the bottom of the red hat and the top of the face area.  Use a single sweeping motion.  At the end of the hat, move down next to the right side of the face until you get to the bottom of the pretzel. Now zig zig back and forth to create some dimension for the beard.  Stop when you meet the brim of the Santa Hat on the left hand side.
  6. Make a small swish of candy melts out from the center to the left hand side for Santa’s mustache.
  7. Repeat going the other way for the other side of his mustache.
  8. Repeat on all the Santa Claus Pretzel Bites.  Don’t worry.  It’s easy enough!
  9. Finally, melt a handful of chocolate chips and use a toothpick to make two small eyes on the face area directly above the red Santa nose.

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