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 Brownies

This is the recipe for the FAMOUS Baked Bakery brownies! Super thick, fudgy, and sure to win you over!

Yoga pants, netflix, and brownies… that’s what’s up with me today. High five if it’s what’s up with you too. If not… jump on this! I have a hankering tomorrow will be yoga pants and some variety of cookie, so we might as well get on the same page now 😉  P.S. I’m thinking a cookie involving loads of chocolate… and maybe salted nuts? What do you think?

Since we have 6 days of crappy weather in the forecast, I’ve decided to call out of life and just bake my ass off. I took the hour I would have spent beautifying and made us some brownies. Baked brownies, you know, from those guys @ Baked Bakery in Brooklyn. They’ve been all over the media. Oprah listed them one of her “favorite things”… and we all know what happens when Oprah announces she likes something. People go nuts for it. I remember the year she named oatmeal “color of the year”. Good luck finding a sweater in that color without putting up a fight! <— I fought. I won. I rocked oatmeal all winter long.


But I digress. Back to Baked! It’s a rad little bakery in Brooklyn, NY. It’s owned by two hip fellows Matt and Renato; they are culinary geniuses that celebrate American classic desserts beyond the typical cupcake deal. The have tons of fun treats, and 2 cook books out that have me in a doozy. They’re also pretty famous for this brownie recipe. And guess what? It lives up to the hype.
The bakery is a fun time, and if you happen to be in NYC, so worth the trip out to Red Hook. You might gain like 3 pounds, but that’s what the yoga pants are for.
This is the recipe for the FAMOUS Baked Bakery brownies! Super thick, fudgy, and sure to win you over!
Bless you sweet, stretchy yoga pants. Invest in some stretchy garments and bake yourself some brownies. Happy Wednesday!
This is the recipe for the FAMOUS Baked Bakery brownies! Super thick, fudgy, and sure to win you over!
The famous recipe for baked brownies from the baked bakery in Brooklyn! Thick, chewy, irresistible!

Ingredients

  • 1 1/4 cup All-purpose flour
  • 1 teaspoon salt
  • 2 TBSP unsweetened cocoa powder
  • 11 ounces dark chocolate (chopped)
  • 1 cup unsalted butter ( 8 ounces ) cut into 1 inch pieces
  • 1 teaspoon instant espresso powder
  • 1½ cups granulated sugar
  • ½ cup packed light brown sugar
  • 5 eggs, at room temperature
  • 2 teaspoons vanilla extract

Instructions

  1. Preheat the oven to 350 degrees F. Butter the sides and bottom of a 9×13-inch baking pan. Line the pan with parchment paper.
  2. In a medium bowl, whisk the flour, salt, and cocoa powder together.
  3. Put the chocolate, butter and instant espresso powder in a large bowl and set it over a saucepan of simmering water, stirring occasionally, until the chocolate and butter are completely melted and smooth.
  4. Turn off the heat, keeping the bowl over the water and add the sugars. Whisk until completely combined, then remove the bowl from the pan. The mixture should be room temperature.
  5. Add 3 of eggs to the chocolate mixture and whisk until combined. Add the remaining eggs and whisk until combined. Add the vanilla and stir until combined. Do not overbeat the batter at this stage or your brownies will be cakey.
  6. Sprinkle the flour mixture over the chocolate mixture. Using a rubber spatula (not a whisk), fold the flour mixture into the chocolate until just a bit of the flour mixture is visible.
  7. Pour the batter into the prepared pan and smooth the top. Bake in the center of the oven for 30 minutes, rotating the pan halfway through the baking time, until a toothpick inserted into the center of the brownies comes out with a few moist crumbs sticking to it. Let the brownies cool completely, then lift them out of the pan using the parchment paper. Cut into squares and serve.
  8. Store at room temperature in an airtight container or wrap with plastic wrap for up to 3 days.
  9. (Recipe adapted from Baked: New Frontiers in Baking)

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