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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!

Maple Glazed Gingerbread Scones

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These gingerbread scones are full of warm and wonderful gingerbread flavors like cinnamon, cloves, molasses, and ginger that basically bring the best of the best holiday feelings right on into your house.


Also noteworthy: these gingerbread scones are refined sugar free – they’re sweetened naturally with maple syrup and molasses – which feels extra awesome !!

Maple Glazed Gingerbread Scones Recipe
These Maple Glazed Gingerbread Scones are simple, delicious, and the ultimate cozy Saturday morning treat with a mug of hot coffee.



INGREDIENTS

for the gingerbread scones

  • 1/2 cup butter
  • 2 cups all purpose flour
  • 1 cup whole wheat pastry flour
  • 1/2 teaspoon cinnamon
  • 1/2 teaspoon ground cloves
  • 3/4 teaspoon ground ginger
  • 3/4 teaspoon salt
  • 1 tablespoon baking powder
  • 2 eggs
  • 1/3 cup real maple syrup
  • 1/3 cup molasses
  • 1/3 cup milk

additional flour as needed

  • 1/2 cup egg whites
  • for the maple glaze
  • 2 tablespoons butter
  • 1¼ cups powdered sugar
  • 1 teaspoons vanilla
  • 1 tbs. maple syrup
  • 1-2 tablespoons water

INSTRUCTIONS

  1. Put the butter in the freezer while you prep the other ingredients so it will be cold and firm enough to grate in step four.
  2. Mix flours, cinnamon, cloves, ginger, salt, and baking powder.
  3. Whisk the eggs, maple syrup, molasses, and milk.
  4. Grate the butter and work into the flour mixture with your hands or with a pastry cutter until crumbs form. It’s okay if there are visible pieces of butter.
  5. Stir the wet ingredients into the flour/butter mixture until just combined.
  6. Transfer the dough to a floured work surface and form into a thick circle about 6-7 inches. Transfer to the freezer to chill for 15 minutes. While freezing, preheat oven to 425 degrees.
  7. Line a baking sheet with parchment paper. Take the dough out of the freezer and pat it together a few more times it so it’s a tight, thick circle. Transfer the dough to the baking sheet.
  8. Cut into eight or ten wedges with a sharp, wet knife to prevent sticking and space the pieces out so they won’t bump into each other when they rise (they will puff significantly in the oven).
  9. Brush the top with a thin layer of egg whites for shine.
  10. Bake for 15 minutes or until golden brown.
  11. For the glaze, melt the butter in a small saucepan over low heat. Add the powdered sugar, vanilla, and maple syrup. Stir until smooth. Add water if needed to thin out the glaze. Spoon over the tops of the scones – the glaze should set almost immediately.

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