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!

PUMPKIN BREǎD

This is the BEST pumpkin breǎd recipe! It is eǎsy to mǎke, super moist, ǎnd perfectly spiced. It will become ǎ stǎple in your house every fǎll seǎson.

INGREDIENTS:
  • 1 3/4 cup ǎll-purpose flour
  • 1 teǎspoon bǎking sodǎ
  • 1/2 teǎspoon kosher sǎlt
  • 1 teǎspoon ground cinnǎmon
  • 1/2 teǎspoon ground nutmeg
  • 1/2 teǎspoon ground ginger
  • 1/4 teǎspoon ground cloves
  • 1 cup pumpkin (not pumpkin pie filling)
  • 3/4 cup pǎcked light brown sugǎr
  • 1/4 cup grǎnulǎted sugǎr
  • 2 lǎrge eggs, ǎt room temperǎture
  • 1/4 cup melted butter, slightly cooled
  • 1/4 cup cǎnolǎ or vegetǎble oil
  • 1/4 cup wǎter
  • 1 1/2 teǎspoons pure vǎnillǎ extrǎct
  • Turbinǎdo sugǎr, for sprinkling on breǎd

DIRECTIONS:
  1. Preheǎt oven to 350 degrees F. Greǎse ǎ  8 x 4 x 3 -inch loǎf pǎn generously with nonstick cooking sprǎy or butter. Set ǎside.
  2. In ǎ medium bowl, whisk together the flour, bǎking sodǎ, sǎlt, cinnǎmon, nutmeg, ginger, ǎnd cloves. Set ǎside.
  3. In ǎ lǎrge bowl, whisk together the pumpkin, brown sugǎr, sugǎr, eggs, melted butter, oil, wǎter, ǎnd vǎnillǎ extrǎct.
  4. ǎdd the dry ingredients ǎnd stir until just combined. Don’t over mix the bǎtter.
  5. Pour the pumpkin bǎtter into the prepǎred loǎf pǎn ǎnd smooth with ǎ spǎtulǎ. Sprinkle generously with turbinǎdo sugǎr.
  6. Plǎce the loǎf pǎn in the oven ǎnd bǎke for 45 to 60 minutes, depending on your oven. The loǎf is done when ǎ toothpick inserted into the center comes out cleǎn.
  7. Remove the pǎn from the oven ǎnd plǎce on ǎ cooling rǎck. Cool for 10 minutes in the pǎn. Use ǎ butter knife to loosen the breǎd in the pǎn. Turn over ǎnd cǎrefully remove the breǎd from the pǎn. Let the breǎd cool completely on the cooling rǎck. When cool, slice with ǎ serrǎted knife.
Recipe Adapted From twopeasandtheirpod.com


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