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!

CHAMPAGNE COOKIES WITH CHAMPAGNE FROSTING

This easy champagne cookies recipe requires a few simple ingredients and no chilling. These champagne sugar cookies are decorated with champagne frosting.

Ever since I bought a bottle of champagne extract, I wanted to make these PINK champagne cookies with champagne buttercream frosting.


I finally made them yesterday and will be serving them in a couple of weeks, at my New Year’s Eve party!


MY OTHER RECIPES


These cookies taste INCREDIBLE and have a wonderful fragrance plus they are so PRETTY and pink.

So, exactly what are champagne cookies and how to make champagne cookies?

Well, these cookies are adapted slightly from my small batch of sugar cookies recipe. The process is very SIMPLE: cream butter and sugar, add extract and then mix in the dry ingredients and knead into a dough. Roll the dough, cut out pieces. Bake and decorate. It really can’t get any easier!



These cut out champagne cookies are PERFECT because:
They hold their shape
No chilling is required
They are easy to make with a few basic ingredients from your pantry
They are great for cookie decorating
They are ideal for multiple occasions/parties: New year’s, Mother’s Day, Valentine’s Day, Weddings and Anniversaries




Here are some TIPS for making perfect champagne cookies:
This is a SMALL BATCH champagne sugar cookies recipe and will yield about 8 medium sized cookies. You can easily double or triple this recipe, without any issues.
DO NOT eyeball your measurements. They must be exact!
Your butter and egg must be at room temperature.
DO NOT omit the sour cream. It adds moisture and richness to these cookies. You can replace it with full fat cream cheese or thick green yogurt but honestly, sour cream yields the BEST results.
If the dough feels dry when you are kneading it, dampen your hands with water and continue kneading.
NO chilling is necessary for this champagne sugar cookie dough.
Remember to roll the dough between two sheets of wax paper to PREVENT the dough from sticking to the rolling pin.
Your baking time will vary, depending on the thickness of your cookies. You will know that the cookies are ready when they are golden brown and firm along the edges.
Champagne extract can be found online at Amazon.
Cookie dough can also be FROZEN in a sealed in a freezer bag for up to 1 month.
Leftover champagne frosting should be STORED in the fridge for up to 1 week.




If you liked this recipe, you may like some of these other recipes too…

This easy champagne cookies recipe requires a few simple ingredients and no chilling. These champagne sugar cookies are decorated with champagne frosting.

SERVINGS: 8
course: DESSERT
cuisine: AMERICAN
calories: 602 KCAL


INGREDIENTS
Champagne cookies
¼ cupButterUnsalted, Room temperature
⅓ cupGranulated sugar
1 Egg yolk From a large egg
1 tbsp Sour cream Full fat
½ tbsp Champagne extract/flavoring
1 cup All-purpose flour
⅛ tsp Salt
⅛ tsp Baking powder
Champagne buttercream frosting
½ cup Butter Unsalted, room temperature
½ cup Vegetable shortening
4 cups Powdered sugar
¼ cup Champagne Alcoholic or non-alcoholic
1 tsp Champagne extract/flavoring
Pink gel coloring
Decoration
White edible pearls
White sprinkles

INSTRUCTIONS
Cookies
In a mixing bowl, cream butter and sugar together until light and fluffy.
Add egg yolk, sour cream and extract and mix until smooth.
In a separate bowl, whisk together the flour, baking powder and salt.
Dump this dry mixture into the wet mixture and mix until you have rough crumbly mixture.
Now, use your hands to knead the mixture into a ball of dough.
Roll out the dough between two sheets of wax paper and cut out shapes with cutters.
Bake at 350 degrees for 6 minutes. Then, rotate your tray and bake for another 3 minutes until cookies are golden brown and firm along the edges.
Allow the cookies to cool down completely.
Frosting
In a deep bowl, mix together butter and shortening until smooth.
Add champagne and extract and mix again.
Add powdered sugar (1 cup at a time), while continuing to mix until frosting is light and fluffy.
Finally, mix in some pink gel coloring.
Assembling

When the cookies have cooled down completely, use a spatula to spread some frosting on top of each cookie.
Toss some sprinkles on top of each cookie and enjoy!

RECIPE NOTES
Read all my tips above.
The recipe can easily be doubled.
Store leftovers in a sealed container between sheets of wax paper at room temperature for up to 1 week.

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