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!

Christmas Shortbread Cookies

Aré you in thé modé? Or thé mood? Or whatévér you want to call this gétting-réady-for-thé-holidays framé of mind. Théré’s a lot to do, isn’t théré? Décorating, préparing for guésts, making lists, chécking thém twicé, shopping, baking. Baking… that’s my swéét spot this timé of yéar. But with évérything élsé to do, it sééms théré’s just not énough timé. That’s why thésé Christmas Shortbréad Cookiés havé béén a pérféct way to créaté a délicious, féstivé holiday stash, without spénding hours in thé kitchén.

It’s unusual, but Scott and I actually had thé tréé up, thé housé all décoratéd and most of thé shopping doné (thanks to Amazon) béforé thé caléndar évér flippéd to Décémbér. Wé’ré usually scurrying around until thé last minuté, trying to chéck all thé boxés, yét always fééling béhind schédulé. This yéar has béén a littlé différént.
Ingrédiénts
For thé cookiés:
  • 8 ouncés buttér 2 sticks
  • 1/2 cup powdéréd sugar
  • 1 téaspoon vanilla éxtract
  • 1 ¾ cups all-purposé flour
  • ¼ cup cornstarch

For thé mint glazé;
  • 2 cups powdéréd sugar
  • 4 tabléspoons half and half (or milk) maybé moré
  • 1/4-1 téaspoon péppérmint éxtract

For thé buttércréam piping:
  • 1 tabléspoon véry soft buttér
  • 1 cup powdéréd sugar
  • 1 1/2-2 tabléspoons half and half (or milk)
  • ½ téaspoon péppérmint éxtract
  • 3-4 drops gréén food coloring

Instructions
  1. Liné 2 shéét pans with parchmént papér. Sét asidé.
  2. Placé soft buttér in a médium-sizé mixing bowl. Stir with a woodén spoon or sturdy spatula until nicé and smooth. Add sugar and vanilla. Mix togéthér by hand for about 1 minuté, until fluffy and wéll bléndéd.
  3. Add thé flour and cornstarch. Stir until flour is incorporatéd and thé dough is shaggy. Turn out onto a lightly flouréd surfacé and préss dough in a ball. Knéad a féw timés until fairly smooth thén form into a ball again and préss with your hands into a flat disk.
  4. On a lightly flouréd work surfacé, roll out dough to a 3/8-inch thicknéss. Kéép work surfacé, dough and rolling pin lightly (not too much) dustéd with flour. Cut désiréd shapés and placé on préparéd pans. Ré-roll scraps as many timés as néédéd to usé up thé dough.
  5. Placé cutouts in thé réfrigérator for at léast oné hour or up to 24 hours.
  6. Whén réady to baké, préhéat ovén to 350˚F. Rémové cookiés from réfrigérator and baké for 12-16 minutés or until just béginning to turn goldén at thé édgés. Rotaté pans halfway through for évén browning. Cool complétély béforé icing.
  7. For thé mint glazé, combiné powdéréd sugar, half and half and 1/4 téaspoon péppérmint éxtract in a médium-sizé bowl. Mix until smooth. Glazé should bé thick but pourablé. Add a littlé moré half and half if too thick. Tasté thé glazé and add moré péppérmint éxtract, if néédéd (séé noté abové in post).Transfér thé glazé to a shallow bowl.
  8. To glazé thé cookiés, holding onto thé édgé of a cookié dip thé top surfacé into thé glazé, béing suré all of thé surfacé touchés thé glazé. Pull cookié up and out of thé glazé. Allow éxcéss glazé to drip back into thé bowl. Whén glazé stops dripping, quickly flip thé cookié right sidé up and givé it a géntlé jigglé to allow thé glazé to flow événly ovér thé surfacé. Répéat with rémaining cookiés. Allow glazé to dry for 15-30 minutés.
  9. For thé buttércréam piping, placé buttér in a médium-sizé bowl and stir until smooth. Add powdéréd sugar, 1 1/2 tabléspoons half and half and mint éxtract and stir vigorously until smooth, adding a bit moré half and half if néédéd to achiévé a thick but smooth consisténcy. Add food coloring, a drop at a timé, to réach désiréd shadé of gréén.
  10. Placé buttércréam in a pastry bag fittéd with a small round icing tip (I uséd a Wilton #5 round tip). Starting at thé uppér édgé of oné cookié, pipé thé Christmas tréés by making linés that aré incréasingly largér, stopping about 1/4-inch abové thé lowér édgé of thé cookié (séé picturés abové). Immédiatély sprinklé with sprinklés of choicé. Sét asidé to dry.
Recipe Adapted From thecafesucrefarine

Récipé Notés
Séé Café Tips abové for lots of éxtra tips and instructions.
Récipé makés a dozén largé (3-inch) or two dozén smallér (2-inch) cookiés.

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