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!
Baked Yeast Donuts
This weekend's experiment was to see if I could make a baked yeast donut that was as tender and tasty as its deep-fried counterpart. The baked donut recipes I have seen all involve a donut pan and a batter (as opposed to a dough), but I wanted to go for the classic yeast donut. I do have a donut pan that I have yet to try out (sorry, Tina. I swear I will get around to it!), but I suspect such pans are not a common kitchen commodity. The trick was to find the right method that would bake the donut without it developing a crust. The end result was pretty awesome, if I do say so myself. Not as tender as a deep-fried donut (and, of course, lacking that wonderfully crispy outside), but still very tender and delicious. Of course, the recipe is not fat-free (I'll leave that to more capable hands) but it certainly is fat reduced without the frying. The ingredients are the same as the original
, but I simplified the method a bit.INGREDIENTSMakes at least 12 donuts- 3/4 cups soy milk- 3 tbsp warm water- 1 1/4 oz vegetable shortening- 2 tbsp sugar- 3/4 tsp salt- 1 tbsp ground flax seed- 2 1/4 tsp instant yeast- 11.5 oz all purpose flourMETHOD
1. Heat soy milk, water, shortening, salt, and sugar in the microwave, or on the stove, stirring regularly until shortening melts. Whisk in flax, then whisk in yeast. Let sit a few minutes, then whisk again until smooth.
3. Put flour in a large bowl and add soy milk mixture. Mix together into a rough dough, then knead for about 5 mins until smooth, adding more flour or more water as needed. The dough should be very soft and slightly tacky, but not sticky. Aim for a moister dough than usual for a more tender final product.
4. Transfer dough to a lightly oiled bowl, cover, and let rise for about 60 mins, until doubled in size.5. Line 2 baking sheets with parchment paper. Lightly mist with oil.6. Roll out the dough on a lightly oiled surface to about 3/8" thick. Cut out donuts with a donut cutter (see pic above). Dough scraps (and holes) can be re-rolled and cut. Place on prepared baking sheets (6 per sheet) and cover. Let rise for 1/2 hour, or until just about doubled in size.7. Preheat oven to 500 degrees with rack in the middle. Bake donuts one sheet at a time. Place one sheet on top of another (i.e. you are baking the donuts on two sheets--this will insulate the donuts and keep the bottoms from getting too brown) in the oven and reduce the heat to 425 degrees. Bake for 5 mins, then gently turn donuts over. Bake for another 3 minutes. Donuts should be lightly golden (see below). Return heat to 500 degrees before baking the second sheet as above (but make sure the second sheet is new/cold).8. Let cool, then glaze0
more recipes @ http://vegandad.blogspot.com
0 Response to "Baked Yeast Donuts"
Posting Komentar