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!
Butterfinger Whoopie Pies
This shop has been compensated by Collective Bias, Inc. and its advertiser. All opinions are mine alone. #mixinmoments #CollectiveBias
The great thing about these mixes is you can make them as cookies or brownies OR you can use that are your jumping off point and go crazy. Like, the box of Cookies & More with Butterfingers that I used has the recipe for the cookies but it also has a recipe for Cookie Brittle (!) and Banana Snack Cake. Using the mix!
You can turn these mixes into whatever you want!
Another great thing about this line of baking mixes is that they have no artificial flavors or colors. And since it’s from Nestle Toll House, you know you can trust them to put out a premium product.
For these Butterfinger Whoopie Pies, I used the Cookies & More with Butterfingers and instead of baking them as regular cookies, I added an extra egg and some sour cream to make them super soft whoopie pies. And then I made one of my favorite frostings to put in the middle: peanut butter cream cheese frosting!
Ingredients
- 1/2 cup 1 stick unsalted butter, at room temperature
- 2 eggs
- 1/2 cup sour cream
- 1 NESTLÉ® TOLL HOUSE® Cookies & More Cookie Baking Mix with Butterfingers
For the peanut butter cream cheese frosting:
- 1 8 ounce block cream cheese
- 1/2 cup creamy peanut butter
- 1 teaspoon vanilla
- 2 cups powdered sugar
Instructions
- Preheat oven to 350F. Line 2 baking sheets with parchment paper.
- Cream softened butter with an electric mixer until light and fluffy. Add eggs and sour cream and beat until combined, scraping down the bowl as needed. Slowly add cookie mix and beat until just combined. Use a rubber spatula to fold in Butterfinger Baking Bits.
- Drop by rounded tablespoon onto prepared baking sheets, leaving about an inch between spoonfuls.
- Bake 11 - 12 minutes or until cookies are golden brown.
- Cool completely before frosting.
To make the frosting:
- Beat cream cheese and peanut butter together until no lumps remain. Add vanilla and powdered sugar, slowly, and beat until combined.
0 Response to "Butterfinger Whoopie Pies"
Posting Komentar