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!

VALENTINE DAYS RECIPES: Heart Meringue Cookies

These Heart Shaped Meringues are a simple, sweet and crunchy cookie…plus I used my NO FAIL meringue recipe so they will always turn out perfectly!I love a meringue cookie. They’re so light and crispy…naturally low in fat and just pretty! Today I’ve taken the cute factor up a few notches and piped my meringues into the shapes of hearts. Yes they are adorable, but they’re also ridiculously easy.

I have a few tips to help make sure your meringues always come out perfectly…as long as the humidity is low!


Make these gorgeous meringue heart cookies for a Valentine’s Day treat or to give as little gifts!


The meringue recipe itself is super simple, with just a few ingredients. I use cream of tartar in my recipe to help stabilize the egg whites. You can tint your meringue any color and you can also use any flavor extract you prefer!

To make the meringues into heart shapes I used a large round tip in a piping bag. You pipe some of the meringue in the shape of a “question mark” and then make another backwards question mark to finish the heart. I found this technique works best to get the shape! Also, try and exaggerate the shape of the heart a bit, otherwise you will get meringues that look like triangles 🙂

Ingredients


4 egg whites room temperature
1 cup granulated sugar
¼ tsp lemon juice
Red gel food coloring
Red sprinkles
Tools needed:
1 M Wilton piping tip
Parchment paper
Instructions


Line a baking sheet with parchment paper and preheat the oven to 200 degrees F. Set aside.
Using an electric mixer, beat eggs on medium speed. Add lemon juice.
Gradually increase the speed to high and keep mixing while slowly adding sugar.
Once your mixture is and forms stiff peaks, add one small drop of gel food coloring.
Attach your 1M Wilton tip to a piping bag and draw out a heart outline on your lined baking sheet. Then, fill each one in.
Garnish with red sprinkles.
Bake for two hours. Once two hours has set turn off heat and let sit in the oven for 35-45 minutes.
Remove from heat and allow to cool on a wire rack. Enjoy!

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