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!

VEGAN COCONUT COOKIES

VEGAN COCONUT COOKIES

These vegan coconut cookies have all the coconut flavor you could dream of! Coconut flavor, coconut texture, coconut bliss! They’re soft and chewy, fabulously moist and so easy to make you can throw together a batch of these with barely any notice at all!

An easy 15 minutes to prep these cookies and just 12 minutes to bake them, so you can have a tray of warm and delicious cookies in your kitchen in less than 30 minutes!

Dessicated coconut is the best coconut to use in these cookies because it’s nice and fine but still provides all that coconut flavor and texture.

These cookies spread beautifully on their own and I just rolled them into balls and baked them. But if you tend to have an issue with your cookies not spreading, then you can flatten them with a fork before they go into the oven.

VEGAN COCONUT COOKIES RECIPE
Soft, moist and buttery vegan coconut cookies packed with coconut flavor and texture! Super easy recipe ready in less than 30 minutes!

INGREDIENTS
  • 1/2 cup (112g) Vegan Butter
  • 1 cup (200g) White Sugar
  • 1/2 tsp Vanilla Extract
  • 1/2 tsp Coconut Extract
  • 1 and 1/4 cups (156g) All Purpose Flour
  • 1/2 tsp Baking Soda
  • 1/4 tsp Salt
  • 1 and 1/3 cups (106g) Dessicated Coconut
  • 4 Tbsp Soy Milk*
INSTRUCTIONS
  1. Add the vegan butter and sugar to the bowl of a stand mixer and cream together. Add in the vanilla and coconut extract and mix in.
  2. Add the flour, baking soda, salt and desssicated coconut to a bowl and mix together and then add all of the dry ingredients in with the butter and sugar mix and mix together by hand (don’t use the electric mixer for this part) until crumbly.
  3. Add in soy milk and mix together into a thick cookie dough that can easily be rolled into balls.
  4. Preheat the oven to 350°F (180°C).
  5. Roll the cookie dough into balls and place onto a parchment lined baking tray. Aim for 20 cookies.
  6. Bake for 12 minutes. The edges will be firm and set but they will still be very soft in the middle. This is fine, they will firm up as they cool.
NOTES
*Depending on the brand of vegan butter you use, it could be that you need a little more or less soy milk so play it by ear, don’t add all of it in at once, start with 2 or 3 Tbsp and then add more until you get to a consistency where you can roll the cookie dough into balls. I used 4 Tbsp but you may need more if you use a hard vegan butter (less water content) or possibly less if you’re using a vegan buttery spread that has a higher water content than the one I used.

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