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!
No Bake Cake Batter Truffles
Naked ( before I dip them) / dressed to impress (after I dip them) cake batter Truffles freshly handmade back in stock. Open today 10-4 can’t wait to see you!!
No Bake Cake Batter Truffles are very easy to make using funfetti cake mix. Loaded with lots of sprinkles and dipped in white chocolate, these are fun and delicious.
Cake Batter Truffles are here to brighten your day! Fun to make, these are no-bake and a great kitchen project with kids. With just a few ingredients, these Cake Batter Truffles taste great and look cute.
Perfect for summer parties, birthday parties or just those days when you need a fun treat. If you love cookie dough, you will be a huge fan of these truffles, as the texture is very similar.
Funfetti cake mix gives these Cake Batter Truffles a nice flavor. The truffles are soft and buttery, with lots of sprinkles and coated in white chocolate.
INGREDIENTS :
No Bake Cake Batter Truffles:
- 8 tablespoons unsalted butter (softened at room temperature)
- 1 1/2 cups Funfetti cake mix
- 1/4 cup cane sugar
- 1/2 cup all-purpose flour
- 1/2 tablespoon vanilla extract
- 1/2 cup rainbow sprinkles
- White Chocolate Coating:
- 10 9z white chocolate wafers (or chopped white chocolate)
- 2 tablespoons rainbow sprinkles
INTRUCTIONS :
- Cover a large, flat plate or cookie sheet with waxed paper and set aside.
- No Bake Cake Batter Truffles:
- Slice butter into 8-10 pieces and add it to a large bowl, add funfetti cake mix, sugar, flour and vanilla extract.
- Using a fork, work the butter into the flour and cake mix until fully combined and it resembles smooth cookie dough. To make the process easier, mix with the fork and after that use your hands to combine all the ingredients.
- Mix in rainbow sprinkles.
- Measuring 1 tablespoon of truffle batter or using a 1 tablespoon cookie scoop, scoop dough and using your palms roll it into a ball.
- Place truffle balls onto the prepared baking sheet. Place in freezer for 10 minutes before coating with white chocolate.
- The amount of truffles you will get depends on how large or small you make them.
- White Chocolate Coating:
- Add white chocolate wafers to a microwave safe bowl and melt for 30 seconds. Stir well and microwave for another 20 or 30 seconds, stir well with a spatula and if there is still chocolate that did not melt, microwave for another 10-15 seconds and stir well.
- Using a fork, dip each dough ball into the melted white chocolate and place on the prepared plate, top with sprinkles immediately.
- Place truffles in the fridge for at least 20 – 30 minutes or until the white chocolate coating hardens.
- Store truffles in the fridge for up to 7-10 days.
- Serve and enjoy!
Recipe Adapted From
No Bake Cake Batter Truffles
0 Response to "No Bake Cake Batter Truffles"
Post a Comment