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!

Best Ever Pecan Pie Bars

The Best Ever Pecan Pie Bars are so good people offer to pay me for them. A fabulous recipe with a caramelized pecan pie set atop a shortbread crust is the absolute perfect nut bar. My family requests more of this dessert than any other every year.
Well, it is officially December and around here that means it's baking season!

Every Christmas I ask our families what they would like to see in the homemade gifts that we give each year.  My family always says the same thing.  "Lots and lots of your pecan bars."
A vanilla shortbread crust is the base for this amazing treat.  2 pounds of pecans and brown sugar guarantee that this will be a very nutty sweet treat.
The Best Ever Pecan Pie Bars are so good people offer to pay me for them. A fabulous recipe with a caramelized pecan pie set atop a shortbread crust is the absolute perfect nut bar. My family requests more of this dessert than any other every year.

INGREDIENTS
  • SHORTBREAD CRUST
  • 1 1/4 pounds (5 sticks) unsalted butter, room temperature
  • 3/4 cup granulated sugar
  • 4 large eggs
  • 1 tablespoon pure vanilla extract
  • 4 1/2 cups all-purpose flour
  • 1/2 teaspoon baking powder
  • 1/4 teaspoon kosher salt
  • PECAN PIE TOPPING
  • 1 pound (4 sticks) unsalted butter
  • 1 cup light corn syrup
  • 3 cups light brown sugar, packed
  • 1/4 cup heavy cream
  • 2 pounds pecans, chopped

INSTRUCTIONS
  1. Preheat the oven to 350°F.
  2. For the crust, beat the butter and granulated sugar in the bowl of an electric mixer fitted with a paddle attachment, until light, approximately 3 minutes.
  3. Add the eggs and the vanilla and mix well. Sift together the flour, baking powder, and salt. Mix the dry ingredients into the batter with the mixer on low speed until just combined. 
  4. Press the dough evenly into an ungreased 18 by 12 by 2-inch baking sheet, making an edge around the edge like you would a pie crust . It will be very sticky; sprinkle the dough and your hands lightly with flour. Bake for 15 minutes, until the crust is set but not browned. Allow to cool.
  5. For the topping, combine the butter, corn syrup, and brown sugar in a large, heavy-bottomed saucepan.
  6. Cook over low heat until the butter is melted, using a wooden spoon to stir. Raise the heat and boil for 3 minutes. Remove from the heat. Stir in the heavy cream and pecans.
  7. Pour over the crust, trying not to get the filling between the crust and the pan. Bake for 25 to 30 minutes, until the filling is set.
  8. Remove from the oven and allow to cool. Wrap in plastic wrap and refrigerate until cold. Cut into bars and serve.
NOTES
FOR A 9x13 pan (serves 18)
Crust
1 1/4 cups (2 1/2 sticks) unsalted butter, room temperature
6 tablespoons granulated sugar
2 large eggs
1 1/2 teaspoons pure vanilla extract
2 1/4 cups all-purpose flour
1/4 teaspoon baking powder
1/8 teaspoon kosher salt

Topping:
1/2 pound (2 sticks) unsalted butter
1/2 cup light corn syrup
1 1/2 cups light brown sugar, packed
2 tablespoons heavy cream
1 pound pecans, chopped
Follow directions above. Watch your cooking time. Time will be decreased for smaller pan sizes.
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FOR AN 8x8 pan (serves 9)
Crust
1 1/4 sticks (10 tablespoons) unsalted butter, room temperature
3 tablespoons granulated sugar
1 large egg
3/4 teaspoon pure vanilla extract
1 cups + 2 tablespoons all-purpose flour
1/4 teaspoon baking powder
1/8 teaspoon kosher salt
Topping:
1 stick (1/2 cup) unsalted butter
1/4 cup light corn syrup
3/4 cups light brown sugar, packed
1 tablespoon heavy cream
1/2 pounds pecans, chopped
Follow directions above. Watch your cooking time. Time will be decreased for smaller pan sizes.

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