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!
QUEEN ANNE SQUARES. A NEWFOUNDLAND FAVOURITE!
Queen Anne Squares. Another popular cookie bar in Newfoundland, especially at the Holidays.
I’ve often received requests for this recipe from readers of the website but I had never actually made Queen Anne Squares. They are a local favorite in these parts and you can find them in many local bakeries.
I put out the call for a recipe on our Facebook page and got several responses with slight variations on what was the same basic recipe. I did modify it to make the moist cake base a little thicker to better support the delicious coconut filling and chocolate frosting top.
Queen Anne Squares have been one of the most popular cookie bars ever on Rock Recipes. These popular Newfoundland treats are a scrumptious combination of coconut and chocolate.
Ingredients
For the bottom layer
- 2/3 cup butter melted
- 2/3 cup brown sugar
- 1 cup flour
- 4 Tbsp cocoa
- 1 tsp vanilla extract
- 1 extra large egg or 1 1/2 medium
- For the coconut layer
- 1 can sweetened condensed milk (300 ml can) 14 oz in US
- 2 cups dried unsweetened coconut medium or fine cut
- 1 tsp vanilla extract
For the chocolate frosting
- 2 cups icing sugar powdered sugar
- 3 tbsp cocoa
- 1 tsp vanilla
- 2 or 3 tbsp milk
- 1/4 cup butter
Instructions
To make the bottom layer
- Beat together all ingredients until smooth, then spread evenly into the bottom of a lightly greased and parchment paper lined 9×9 inch baking pan.
To prepare the coconut layer
- Mix together the 3 ingredients until completely blended then drop by heaping teaspoonfuls onto the cake batter layer. Spread out carefully.
- Bake at 350 degrees F for 25 -30 minutes. Cool completely before adding the chocolate frosting on top.
To make the chocolate frosting
- Beat together the icing sugar, cocoa, vanilla butter and a little of the milk.
- Add only enough milk to bring the frosting to a smooth but spreadable consistency. A frosting that is a bit on the thick consistency side works best here.
- Spread on the cooled cookies and cut into squares or bars.
0 Response to "QUEEN ANNE SQUARES. A NEWFOUNDLAND FAVOURITE!"
Posting Komentar