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!

Brown Butter Sugar Cookies

Here we have brown butter sugar cookies, a cookie whose flavor runs deep and is an easy upgrade from traditional sugar cookies.


Traditional sugar cookies, whether that’s roll-out or drop cookies, have their own distinct flavor. You can’t quite put your finger on it, but it’s somewhere in between sweet, butter, vanilla, and rainbows. Mostly rainbows. 

They’re delicious and trust me, if you put a plate in front of me I’d grab one faster than you can say royal icing. But it’s just not what I’d choose if I had other options. Other options with chunks, nuts, big flavor, molasses, oats, caramel, and such. 



Even though we aren’t creaming butter and sugar together, I still recommend a mixer to really get the sugar incorporated into the brown butter.

Brown Butter Sugar Cookies Recipe
Traditional sugar cookies, whether that’s roll-out or drop cookies, have their own distinct flavor. You can’t quite put your finger on it, but it’s somewhere in between sweet, butter, vanilla, and rainbows. Mostly rainbows.



Ingredients:
  • 1 cup (16 Tbsp; 230g) unsalted butter
  • 2 cups + 2 Tablespoons (265g) all-purpose flour (spoon & leveled)
  • 1 teaspoon baking soda
  • 1/2 teaspoon salt
  • 3/4 cup (150g) granulated suagr
  • 3/4 cup (150g) packed light brown sugar
  • 1 large egg, at room temperature
  • 2 teaspoons pure vanilla extract
  • optional: sprinkles and/or nonpareils for topping
Instructions :
  1. Brown the butter: Have a large heat proof bowl handy. Slice the butter into pieces and place in a light-colored skillet. (Light colored helps you determine when the butter begins browning.) Melt the butter over medium heat, whisking occasionally. Once melted, the butter will begin to foam. Keep whisking occasionally. After 5-8 minutes, the butter will begin browning-- you'll notice lightly browned specks begin to form at the bottom of the pan and it will have a nutty aroma. See photo above for a visual. Once browned, remove from heat immediately, pour into bowl. Allow to cool for 5 minutes.
  2. Meanwhile, whisk the flour, baking soda, and salt together in a medium bowl. Set aside.
  3. Add the granulated sugar and brown sugar to the brown butter. Using a hand-held mixer or stand mixer with paddle attachment, beat together on medium-high speed until relatively combined, about 1 minute. Beat in the egg and vanilla extract.
  4. Pour the dry ingredients into the wet ingredients and begin beating together on low speed, slowly working up to high speed until everything is combined. The dough will be thick and a little greasy. That's ok! Just roll into balls as best you can in the next step.
  5. Roll the dough into balls, about 1 Tablespoon of dough each, and dip the tops into sprinkles. Place dough balls tightly together on a lined baking sheet (or a couple large plates). Loosely cover with plastic wrap and  place in the refrigerator to chill for 30 minutes.
  6. Preheat oven to 350°F (177°C). Line large baking sheets with parchment paper or silicone baking mats. (Always recommended for cookies.)
  7. Line chilled dough balls onto baking sheets about 3 inches apart. Bake for 12-13 minutes or until lightly browned on the sides. Remove from the oven and allow to cool on the baking sheet for 5 minutes then transfer to cooling rack to cool completely.

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