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!
Keto Pecan Cheesecake Muffins
Sometimes you don’t want eggs for breakfast. These keto pecan cheesecake muffins are an excellent grab and go breakfast choice. They can be batch cooked and stored in the freezer.
Pecan is one of our favourite nuts to use as we just love their flavour. These are a great option to give to your non keto family members as they are delicious.
Keto Pecan Cheesecake Muffins
TIPS
We love Sukrin Sweetener
and Sukrin Gold works really well in these muffins, as it is a brown sugar substitute. Australians! Don’t worry, the Sukrin products are available for us too. If you are interested check out Sukrin Australia.
Use your preferred nuts if you don’t have pecans available
These muffins freeze well and should be stored in the fridge or freezer, just wrap them well
They are best served room temperature or warm
Keto Pecan Cheesecake Muffins
Keto Pecan Cheesecake Muffins
Prep Time 10 minutes
Cook Time 20 minutes
Total Time 30 minutes
Servings 8
Calories 189 kcal
Ingredients
- 1 cup Almond Flour (meal)
- 1 tsp Baking Powder
- 0.5 cup Brown Sugar Substitute (we use Sukrin Gold)
- 1 tsp Ground Cinnamon
- 0.5 cup Pecans (chopped)
- 1 tsp Vanilla Extract
- 4 Eggs (large)
- 250 g Cream Cheese (8oz)
- Salt
Instructions
- Preheat the oven to 160 degree Celsius or 320 degrees Fahrenheit and prepare your muffin moulds or cases. You will need to grease your tin. We use a silicon mould as they come out very easily and do not require any greasing
- In a bowl combine almond flour, baking powder, cinnamon, pecans, sugar substitute and a pinch of salt
- Chop cream cheese into small cubes
- In a jug whisk together eggs and vanilla with a fork
- Add the egg mixture to the dry mixture and stir to combine
- Sprinkle the cream cheese cubes into the mixture. Take some time to do this to ensure they are all separated and not clumped together
- Divide the mixture into your muffin moulds.
- Bake in the oven for 20-25 minutes or until they are golden brown and cooked through
AL INFORMATION DOES NOT INCLUDE ANY GARNISHES
Nutrition Facts
Keto Pecan Cheesecake Muffins
Amount Per Serving
Calories 189Calories from Fat 117
% Daily Value*
Total Fat 13g20%
Saturated Fat 1g5%
Cholesterol 85mg28%
Sodium 251mg10%
Potassium 205mg6%
Total Carbohydrates 7g2%
Dietary Fiber 2g8%
Sugars 2g
Protein 11g22%
Vitamin A2.7%
Calcium18.6%
Iron6.7%
* Percent Daily Values are based on a 2000 calorie diet.
