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!
Basic White Cake Cupcakes
The thing about making sweets which makes me think I’ll never tire of making them, well, of course, besides the delicious taste, is the absolute wonderful variety in decorating ideas…. endless! Sweet art really. And lately what’s been captivating me are those gorgeous buttercream flower cakes. Have you seen them? One of my favorite examples is ivenoven from Jakarta. I follow her on Instagram and have based these cupcake here off of her designs (Thank you!). I really do need to practice making the flowers, but it was fun seeing the different results of playing around with different piping tips and angles. I’m definitely not ready to share a tutorial, but I’ll share more on the tools I used to make these below.
When it comes to flavours, the possibilities there, too, are endless. For those of you with lactose intolerance I’ve found a new ingredient to add to your fridge. Lactose-free milk! I have been sponsored by Lactaid to try out their milk in a recipe and share on Instagram, but all opinions are my own. Lactaid milk is 100% real milk, just like any other milk brand, and can be used for baking and cooking. The difference is that it is lactose free, but contains lactase. As explained on Lactaid’s site, “LACTAID® Products contain lactase, a natural enzyme that helps break down lactose – the sugar found in dairy foods like milk, ice cream or cheese – into two simple sugars (galactose and glucose) that are easily digested. If not properly digested, lactose can cause gas, bloating, cramps, and/or diarrhea. LACTAID® Products can help people who have a sensitivity to dairy due to lactose digest dairy products without stomach discomfort.”
Ingredients
- 1 3/4 cups all-purpose flour
- 2 1/2 teaspoons baking powder
- 1/2 teaspoon salt
- 1/2 cup shortening
- 1 cup sugar
- 1/2 teaspoon vanilla
- 2 large eggs
- 1 cup LACTAID® milk
Instructions
- Preaheat oven to 350 degrees Fahrenheit and line your muffin tin with cupcake liners.
- Sift flour, baking powder and salt onto parchment paper. Stir thoroughly to blend.
- Cream shortening until fluffy; gradually add sugar mixing until creamy.
- Add vanilla and then eggs, one at a time, beating well after each addition.
- Add dry ingredients alternately with LACTAID® milk, starting and ending with dry ingredients and mixing until well blended after each addition.
- Use a 1/4 inch cup or ice cream scoop to add cupcake batter to liners.
- Bake for approximately 15 minutes or until an inserted toothpick comes out clean.
- Let cupcakes cool and ice with frosting.
0 Response to "Basic White Cake Cupcakes"
Posting Komentar