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!
CINNABONS CINNAMON ROLLS
CINNABONS CINNAMON ROLLS
Cinnabons Cinnamon Rolls – a cinnabon copycat recipe, about the closest you’ll get to the real thing. Super easy to make.
Cinnabons Cinnamon Rolls
Prep Time 20 mins
Cook Time 20 mins
Total Time 40 mins
Cinnabons Cinnamon Rolls – a cinnabon copycat recipe, about the closest you’ll get to the real thing. Super easy to make.
Course: Breakfast, Brunch, Dessert
Cuisine: American
Servings: 12
Calories: 493 kcal
Author: Joanna Cismaru
Ingredients
Dough
- 2 1/4 tsp active dry yeast or instant yeast
- 1 cup milk lukewarm
- 1/2 cup granulated sugar
- 1/3 cup butter unsalted, softened, or margarine
- 1 tsp salt
- 2 eggs
- 4 cups all-purpose flour
Filling
- 1 cup brown sugar packed
- 3 tbsp cinnamon
- 1/3 cup butter unsalted, softened, or margarine
- Cream cheese icing
- 6 tbsp butter unsalted, softened, or margarine
- 1 1/2 cups powdered sugar also known as icing sugar, or confectioner's sugar
- 1/4 cup cream cheese at room temperature
- 1/2 tsp vanilla extract
- 1/8 tsp salt
US Customary - Metric
Instructions
- For the rolls, dissolve the yeast in the warm milk in a large bowl. Let it sit for about 5 minutes. If the yeast is good, it will start to froth up.
- To the bowl of your mixer add the sugar, butter or margarine, salt, eggs, and flour and mix until well incorporated.
- Pour the milk/yeast mixture over the flour mixture and using the dough hook, mix well until well incorporated.
- Place the dough into an oiled bowl, cover and let rise in a warm place about 1 hour or until the dough has doubled in size.
- Combine the brown sugar and cinnamon in a bowl.
- Grease a 9x13 inch baking dish with cooking spray or butter.
- Roll the dough out on a lightly floured surface, until it is approximately 16 inches long by 12 inches wide. It should be approximately 1/4 inch in thickness.
- Spread the 1/3 cup of butter evenly over the dough, then sprinkle with the sugar evenly over the surface of the dough.
- Working carefully, from the long edge, roll the dough down to the bottom edge.
- Cut the dough into 1 1/2 inch slices, and place in a lightly greased baking pan. You can also use floss to cut into slices, as seen in the video. Place the cut rolls in the prepared pan. Cover with a clean kitchen towel or plastic wrap and let them rise for another 30 minutes, or until doubled in size.
- Preheat oven to 350 degrees.
- Place the baking pan in the oven and bake for 20 minutes or until golden brown. Cooking time can vary greatly!
- While the rolls are baking make the icing by mixing all the icing ingredients and beat well with an electric mixer until fluffy and smooth.
- When the rolls are done, spread generously with icing.
Recipe Notes
- Prep time does not include time to let the dough rise.
- Always check the expiration date on your yeast and make sure it hasn't expired. All your yeast products whether it’s in a jar or a package should be stamped with a “Best if Used by” date. Always make sure you check this date, even when you purchase the yeast, who knows it could have been on the shelf past its expiry date.
- full recipe: https://www.jocooks.com/recipes/cinnabons-cinnamon-rolls
