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!

THUMBPRINT COOKIES


Christmas is almost here, which is a good time to do some baking. My friend came by the other night to drop off a gift basket she makes every year. She is a good cook and baker, so there were some baked goods and cookies. I got inspired and decided to do some baking myself. I was looking for a recipe and stumbled upon these delicious looking thumbprint cookies.
These thumbprint cookies are made from a sugar cookie dough. One-inch balls are formed out of the dough and then rolled in chopped walnuts and dented in the center with a thumb. The cookies are baked for 8 minutes, filled with jam in the dented center and then baked for another 10 minutes. These cookies came out so good. I placed mine in the fridge and have them as a snack with a glass of milk.



Thumbprint Cookies

Prep Time
25 mins
Cook Time
17 mins
Total Time
42 mins


Servings: 24 cookies
Calories: 119 kcal

Ingredients1 cup walnuts
½ cup butter , softened
½ cup brown sugar
1 egg , separated
1 tsp vanilla extract
1 ¼ cup all-purpose flour , sifted or whisked
¼ cup of your favorite jam (I used raspberry and pineapple jam)

InstructionsHeat a large non-stick frying pan over medium high heat. Spread the walnuts in a single layer to the hot dry pan. Cook, watching frequently until the walnuts start to brown, about 4 minutes. Transfer the toasted walnuts to a baking sheet in a single layer. When the walnuts are cool, chopped them finely and then set aside.
Preheat the oven to 350 degree F. Line a baking sheet with parchment paper.
In a large bowl using an electric mixer, beat the butter and sugar until fluffy. Beat in the egg yolk and vanilla. Add the flour and beat until combined.
In a small bowl, beat the egg white with a fork. In a shallow bowl, place the finely chopped walnuts.
Shape cookie dough into 1-inch balls. Dip each ball in the egg white and then roll them in the walnuts. Place the balls on the prepared sheet. Using your thumb, press a deep indentation in the center of each ball.
Bake the cookies for 8 minutes or until set. Remove the baking sheet from the oven and fill the center of the cookies with ¼ teaspoon of the jam. Return the sheet in the oven and bake the cookies until lightly browned, about 8 to 10 minutes.
Transfer the cookies onto a wire rack to cool completely.


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