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!

Everyday Chocolate Chip Cookies

Everyday Chocolate Chip Cookies
Everyday Chocolate Chip Cookies are thick, chewy, and LOADED with chocolate in every bite!!!
Everyday Chocolate Chip Cookies are thick, chewy, and LOADED with chocolate in every bite!!!

Tips and Tricks for Recipe Success:
If you’ve never browned butter before, don’t worry, my friend! It’s SO darn easy. You’ll need a saute pan, some butter, and a touch of patience – that’s it! You’ll start off melting the butter; once the butter has completely melted, you’ll continue to cook the butter, on medium heat (or medium-low if your stove top runs hot), until it’s turned a golden brown and smells slightly nutty. Just be sure you stay stove side once the butter has melted; brown butter can turn into burnt butter very fast.
You will need to bring your browned butter back to room temperature before incorporating it into this recipe. To do this, simply pour the butter into a heatproof bowl and place it in the fridge for about 1 hour. You want it solid, but soft enough that when you gently press it with your finger it leaves an indentation. Be sure your butter is at the proper temperature before you begin baking. If it’s too warm, your cookies will spread all over the pan 🙁
Don’t over bake! Your chocolate chip cookies should be set at the edges, but still quite soft in the center.
Be sure to allow the chocolate chip cookies to cool on the baking sheet for a full 10 minutes before transferring them to a cooling rack. They need the 10 minutes to firm up so they don’t fall apart as your transfer them.
If you’d like your chocolate chip cookies to look like the ones you see in my photos, simply press a few chocolate chips on top of each cookie right after they come out of the oven. You can also sprinkle them with sea salt! I love Maldon sea salt because it’s flaky and delish.
Everyday Chocolate Chip Cookies
prep 15 mins
cook 10 mins
inactive 1hour
total 1 hour, 25 mins
author bakerbynature
yield 2 dozen cookies

The VERY BEST Chocolate Chip Cookie Recipe!
Ingredients
  • 14 tablespoons salted butter
  • 2 and 1/3 cups all-purpose flour
  • 1 teaspoon baking soda
  • 1/2 teaspoon flaky sea salt
  • 1 cup + 2 tablespoons dark brown sugar, packed
  • 1/2 cup granulated sugar
  • 2 teaspoons vanilla
  • 2 large eggs, at room temperature
  • 1 cup milk chocolate chips
  • 1 cup dark chocolate chips
  • 1/2 cup bittersweet chocolate chips
Instructions
  1. Place the butter in a small sauce pan over medium-high heat and cook for about 2 minutes - stirring almost constantly - until the butter has completely melted and lightly browned. Remove from heat and scrape butter (and any brown specks) into a heatproof bowl. Place the bowl in the refrigerator and bring the butter back to room temperature; this will take about an hour to an hour and a half. 
  2. Once the butter is at room temperature...
  3. Preheat oven to 375 degrees (F). Line 2 large baking sheets with parchment paper and set aside.
  4. In a medium sized bowl whisk together the flour, baking soda, and sea salt; set aside.
  5. In the bowl of a stand mixer fitted with the paddle attachment, add the chilled brown butter and both sugars; beat on medium speed for about 2 minutes, or until light and fluffy. Add in the vanilla and beat smooth. Add the eggs, one at a time, beating well after each addition. Turn the mixer off.
  6. Gently fold in the flour mixture with a wooden spoon, stirring only until the flour begins to disappear. Fold in chocolate chips.
  7. Roll 3 tablespoon sized balls of dough between your palms to form a ball (they should be big; almost a 1/4 cup), then place on prepared sheet (make sure to leave enough room in between each cookie for inevitable spreading). Continue this process until all the dough has been rolled. Place baking sheets in preheated oven - one at a time - and bake for 10 to 11 minutes, or until golden at the edges but still soft in the middle. Let cookies cool for 10 minutes on the sheet before transferring to a wire wrack to cool completely.
courses dessert
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