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!

Chewy Snickerdoodle Bars

Soft and chewy Snickerdoodle Bars are as effortless as spreading batter into a pan and showering with cinnamon and sugar…half the work of the popular cookies with the same yummy flavor and texture!


Back to these Snickerdoodle Bars, though. They are so good and so easy, y’all! Making Snickerdoodles in cookie form can be rather time-consuming, since each cookie has to be scooped and rolled in cinnamon sugar. But these brilliant bars? Simply mix up the batter, spread it into a pan (since it’s too thick to pour), sprinkle with cinnamon sugar (a heavy hand is encouraged), bake, and slice! Not quite as fast to make as that mug cake, mind you, but this recipe produces enough to share with 20 or so of your closest friends, so I’d consider that a good trade.

Chewy Snickerdoodle Bars Recipe

Soft and chewy Snickerdoodle Bars are as effortless as spreading batter into a pan and showering with cinnamon and sugar...half the work of the popular cookies with the same yummy flavor and texture!



Ingredients

  • 2 1/2 cups all-purpose flour
  • 1 1/2 teaspoons baking powder
  • 1 teaspoon cream of tartar
  • 1/2 teaspoon salt
  • 1 1/2 cups sugar
  • 1/2 cup brown sugar
  • 1 cup (2 sticks) butter, at room temperature
  • 2 eggs, at room temperature
  • 1 tablespoon pure vanilla extract

FOR THE TOPPING:

  • 3 tablespoons sugar
  • 2 teaspoons ground cinnamon

Instructions

  1. Position rack in center of oven and preheat to 350°F. Grease a 9- by 13-inch baking pan with butter (or spray with cooking spray); set aside.
  2. In a medium bowl, whisk together flour, baking powder, cream of tartar, and salt. In a large bowl, use an electric mixer to stir butter until creamy. Blend in sugar and brown sugar and beat on medium-high speed for 3 minutes or until light and fluffy. Mix in the eggs, one at a time, and vanilla, and blend until smooth.
  3. Mix in the flour mixture until well combined. Spread in an even layer in the prepared pan. In a small bowl, mix the sugar and cinnamon. Sprinkle evenly over the top of the batter.
  4. Bake for 25 to 30 minutes or until a toothpick inserted in the center comes out clean. Cool in the pan on a wire rack. Cut into 20 bars.

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