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!


These Mickey and Minnie Doughnuts will bring a little Disney magic to your treat-making this season. They’re drenched in chocolate and channeling the festive spirit of the holidays.
Speaking of Mickeys and Minnies, you can definitely make all of these one or the other, but I usually just do half and half. All your Mickeys will be getting yellow buttons on their pants, and the Minnies will be getting bows on their heads and polka dot dresses. You can drive yourself crazy trying to make the polka dots look balanced, so I try to remember less is more.
M&Ms – I usually have regular-sized M&Ms around the house for other projects, and they’ll work just fine for Mickey’s pants. Yellow Reese’s pieces will work too (mmmm, peanut butter).

  • 1 Package Chocolate Covered Hostess Mini Doughnettes
  • 1 Package Ghiradelli Milk Chocolate Melting Wafers
  • 1 Bag Red Candy Melts
  • 1 Tube White Cookie Icing
  • 1 Small Bag Mini M&M's yellows picked out
  • 1 Package Wilton Royal Icing Bow Transfers
  • 1 Container Wilton Holly Melody Sprinkles
  1. Line a cookie sheet with parchments.
  2. Melt red chocolate candy melts in a double boiler, stirring occasionally until smooth.
  3. Meanwhile, make 2 slits on the top sides of the doughnut for the ears. Slide a Ghiradelli wafer into each slit for the ears.
  4. Dip doughnutts that are going to be Mickey donuts halfway into the melted red chocolate. Allow any excess to drip back into double boiler. Lay dipped doughnut onto prepared cookies sheet and place 2 mini yellow M&M's onto the top center for Mickeys pant buttons. Repeat with remaining donuts that you want to be Mickey donuts. Allow to dry on cookie sheet.
  5. Dip doughnutts that are going to be Minnie donuts halfway into the melted red chocolate. Allow any excess to drip back into double boiler. Lay dipped doughnut onto prepared cookies. Dip a toothpick into melted chocolate a place a dab on the back of an Icing Bow and place on donut, between the ears. Using the cookie icing, pipe dots onto the red chocolate for the polka dots on Minney's dress.
  6. Carefully place the holly leaves and red sprinkle for the berries onto the right corner of each donut. (I use kitchen tweezers)
Recipe Source:


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