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 SOFT CHOCOLATE CHIP COOKIES {EVER!}

I’ve been making chocolate chip cookies forever, searching for the perfect recipe. After many years of trying, I’d pretty much given up. I wasn’t even looking anymore, actually… then one day I came across a recipe on Pinch of Yum where Lindsay shared a recipe for her “most favorite cookie recipe of all time”. Well of course, if she was making that claim, I had to give it a try, and let me just say…
A few important tips ensure the softest, easiest, best chocolate chip cookies you've ever made. Melt the butter; use real, good-quality, vanilla; don't over-beat batter when adding the egg; remove cookies when they don't look ready. Okay, here we go with your soon-to-be favorite cookie recipe. Oh and P.S., this recipe is amazing with white chocolate chips and macadamia nuts. See notes in recipe instructions.

Ingredients
  • 1/2 cup salted butter
  • 1/2 cup granulated sugar
  • 1/4 cup light brown sugar (dark brown is fine too)
  • 1 generous teaspoon vanilla
  • 1 egg
  • 1 1/2 cups all-purpose flour (use the spoon-and-level method)
  • 1/2 teaspoon baking soda
  • 1/4 teaspoon salt
  • 1/2 -3/4 cup semi-sweet chocolate chips

Instructions
  1. Preheat oven to 350F degrees, place oven rack at middle position and line two baking sheets with parchment paper. Set aside.
  2. Melt butter in microwave for 40 seconds until barely melted. You want the butter melted but not hot.
  3. In large bowl, using hand mixer, or in bowl of stand mixer, combine melted butter, granulated sugar, and brown sugar. Mix on low until creamy. Add the vanilla and mix until incorporated.
  4. Add the egg and mix ONLY for 10-15 seconds, still on low speed. This is important as overbeating the mixture with the egg will make for a too-stiff batter. Turn off the stand mixer or beaters.
  5. In small bowl or parchment envelope, combine flour, baking soda and salt.
  6. Add about 1/3 flour mixture and mix on low for just a few seconds, the flour won't be completely mixed in. Continue to add flour mixture until fully incorporated and beat, still on low until completely mixed. Your cookie dough, at this point, should hold together easily when pressed together, but not be too wet. If it seems too wet, feel free to add another tablespoon of flour at a time until it resembles photos (I've never had to do this, though).
  7. Add 1/2 cup semi-sweet chocolate chips and mix on low about 5 seconds, just until mixed throughout. If you like a lot of chips in your cookies, add an additional 1/4 cup chips.
  8. Cook's note: You can also use a combination of chocolate chips and chocolate chunks. If you like really sweet cookies, feel free to use milk chocolate chips. I've experimented with milk chocolate, semi-sweet, and bitter chocolate. Semi-sweet seems to please everyone.
  9. Using a 2" cookie scoop, loosely scoop dough and place 2 1/2" apart (6 cookies per baking sheet). Place one cookie sheet in the oven on middle rack and bake for 9-11 minutes until cookies are poofed and still white. They will not look done, you might barely see golden color around edges of some cookies. (I've tested these over and over and with my oven, 10 minutes is exactly perfect. The cookies become completely poofed and white at about 9 1/2 minutes, an additional 30-45 seconds ensures additional cooking inside while still being soft when cooled.)
  10. Remove cookies from oven and leave on baking sheet for additional 15-30 minutes. While one baking sheet is cooling, bake the remaining 6 cookies on the second baking sheet in same manner.
  11. While the cookies cool, they will kind of sink and darken on the baking sheet. After 15-30 minutes, they're set and can be served or stored in an air-tight container for up to 3 days. The cookies are absolutely perfect about 4 hours after cooking. During this time, the flavors meld perfectly and the softness settles and becomes less "wet" and more chewy.
  12. FYI- I've made this same cookie recipe, substituting white chocolate chips and macadamia nuts. We think they're even better than the semi-sweet chocolate cookies! For this alteration, I use 1/2 cup good-quality (like Ghiradelli) white chocolate chips, and then I use about 3/4 whole macadamia nuts (pre-chopped are chopped a little too finely for my taste), and then rough chop them, leaving some in half for a good nutty bite.

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