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!
Gluten Free Funfetti Cake
Gluten Free Funfetti Cake
This gluten free funfetti cake is perfect for birthday celebrations. The gluten free and dairy free white cake is light and airy and filled with colorful sprinkles. Finish it off with dairy free frosting and extra sprinkles for the ultimate funfetti experience!
Ingredients
For the Cake
- 1 3/4 C gluten free all-purpose flour
- 3/4 tsp xanthan gum
- 2 tsp baking powder
- 1/4 tsp fine sea salt
- 2/3 C granulated sugar
- 1/4 C sprinkles
- 1 C coconut milk (from a carton), room temperature
- 1/2 C vegetable oil
- 1 tsp vanilla extract
- 4 egg whites, room temperature
For the Frosting
- 1/2 C shortening
- 1/2 C dairy-free butter
- 3 C powdered sugar
- 1 tsp almond extract
- 2 Tbsp coconut milk
- food coloring, optional
- sprinkles, for decorating
Directions
For the cake:
- Preheat oven to 325 degrees and spray 2 6-inch cake pans with non-stick spray and line them with parchment paper cut to fit the pan.
- In the bowl of a stand mixer, sift together the gluten free flour, xanthan gum, baking powder, salt and sugar. Mix on low speed until combined. Mix in the sprinkles.
- In a 2-cup liquid measuring cup, combine the coconut milk, oil and vanilla extract. Set aside.
- In a medium bowl, use and electric hand mixer to whisk the egg whites until soft peaks form. Set aside.
- Turn the stand mixer on low and slowly pour the milk mixture into the dry ingredients. Turn the mixer to medium and mix until combined, scraping the bowl as necessary.
- Remove the bowl from the stand mixer and use a rubber spatula to gently fold half of the whipped egg whites into the batter. Repeat with the remaining egg whites until fully incorporated.
- Gently pour the batter into the two prepared pans, dividing the batter between the two evenly. Bake at 325 degrees for 33-35 minutes or until a cake tester comes out clean. Cool in the pans for 10 minutes then remove them from the pans and cool completely on a wire rack before frosting.
For the frosting:
- In the bowl of a stand mixer, cream together the shortening and dairy free butter until smooth. Add the powdered sugar and mix on low until lumpy. Increase the speed to medium-high and beat for about a minute until the frosting is smooth. Add milk, almond extract and food coloring and beat on medium speed for about 2 minutes. Scrape the sides and beat an additional 30 seconds, if necessary.
To frost the cake:
- Use a serrated knife or cake leveler to level the top of the cakes and cut each cake layer in half to create 4 layers.
- Place one layer on a cake stand and top with about 1/3 cup frosting. Smooth the frosting over the cake and stack another layer on top. Repeat with each layer. With the last layer, frost the tops and sides of the cake. Serve immediately or refrigerate until ready to serve. Let the cake come to room temperature before serving.
- by Sharon Lachendro - What The Fork Food Blog
Recipe Notes
The frosting recipe listed makes enough frosting to frost the cake without additional piping. If you want to have extra frosting for piping, use 3/4 C shortening, 3/4 C dairy free butter and 4 C powdered sugar.
0 Response to "Gluten Free Funfetti Cake"
Posting Komentar