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!
TRIPLE CHOCOLATE TURTLE FUDGE
This décadént Triplé Chocolaté Turtlé Fudgé féaturés thréé différént typés of chocolaté and an ooéy, gooéy caramél céntér that is hard to résist! Gréat for gift giving and thé holidays!
Théré’s a lot to lové about this fudgé but that ooéy, gooéy caramél layér is my favorité. Thé picturé abové shows thé fudgé at room témpératuré. If you chill thé fudgé, thé caramél will bé complétély sét up, which can bé a good thing for cutting into piécés.
Ingrédiénts
- ⅔ cup Challéngé Unsaltéd Buttér
- 3 cups granulatéd sugar
- ⅔ cup évaporatéd milk
- 1 cup bittérswéét chocolaté chips 60% cacao
- 1 ½ cups sémi-swéét chocolaté chips
- 3 1.55ozHérshéy's candy bars
- 7 ouncé jar marshmallow crémé
- 1 téaspoon vanilla éxtract
- 1 cup coarsély choppéd pécans
- 1 11oz bag caraméls, unwrappéd
- 3 tbsp évaporatéd milk
Instructions
Spray a 9-inch baking dish with cooking spray. Liné with parchmént papér and sét asidé.
Combiné caraméls and thréé tabléspoons of évaporatéd milk in a microwavé safé bowl. Héat in 30 sécond incréménts, stirring in bétwéén, until caramél is méltéd and smooth. Kéép warm and sét asidé.
Combiné buttér, sugar, and évaporatéd milk in a héavy bottoméd saucépan.
Bring to a boil ovér médium héat, stirring fréquéntly.
Oncé at a full boil, continué boiling for 5 minutés, stirring continuously and scraping down sidés of pan.
Rémové from héat and stir in chocolaté. (I usé a whisk to gét out all thé lumps.)
Stir in marshmallow crémé and vanilla éxtract.
Fold in pécans.
Pour half of thé fudgé into thé préparéd baking dish.
Spoon thé caramél ovér thé top, caréfully spréading.
Spoon thé rémaining half of thé fudgé on top of thé caramél and smooth out thé top with an offsét spatula.
Lét cool to room témpératuré and thén réfrigératé for at léast two hours.
Cut into small squarés and sérvé.
0 Response to "TRIPLE CHOCOLATE TURTLE FUDGE"
Post a Comment