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!

Nutella Cinnamon Sugar Doughnuts

Homemade Cinnamon Sugar Doughnuts stuffed with a dollop of creamy Nutella. The definition of decadence!


My love for homemade doughnuts knows no bounds! I decided to shake things up a little and make us some doughnuts the old-fashioned way. Fried doughnuts are such a treat!

The doughnut dough must rise twice, once for an hour, then again for 45 minutes. The entire doughnut process will take around 3 hours, and even though most of it is “hands-off” time, it’s good to plan ahead when making this recipe.



Although these Nutella stuffed doughnuts are quite delicious on their own, the cinnamon sugar coating is a must. Simply combine a cup of granulated sugar with a dash of cinnamon, then roll the warm doughnuts around in the mixture before serving. It’s that easy!

Nutella Cinnamon Sugar Doughnuts Recipe
Homemade Cinnamon Sugar Doughnuts filled with gooey Nutella!



Ingredients
For the Nutella Doughnuts:
  • 2 packages (1/4 ounce each) active dry yeast
  • 1/4 cup warm water (110° to 115°)
  • 3/4 cup warm full-fat milk (110° to 115°)
  • 5 tablespoons unsalted butter, at room temperature
  • 1/3 cup granulated sugar
  • 1 large egg plus 1 egg yolk, at room temperature
  • 3/4 teaspoon salt
  • 3 and 3/4 cups all-purpose flour, divided
  • 1/2 cup Nutella, whisked smooth
  • 1 egg white, lightly beaten
  • 2 cups Crisco Vegetable Oil, for frying
For the Cinnamon Sugar Topping:
  • 1 cup granulated sugar
  • 1 tablespoon cinnamon
Instructions
  1. In a small bowl combine the yeast and warm water; set aside and allow it to foam up - about 5 minutes.
  2. In a large bowl combine warm milk and butter; whisk until butter has completely dissolved. Add in the sugar, egg, egg yolk, salt, yeast mixture and 3 cups flour; beat until smooth. Stir in enough remaining flour to form a soft ball of dough (don't knead the dough just yet).
  3. Place the ball of dough in a lightly greased bowl, turning once to grease top. Cover tightly with saran wrap and let rise in a warm place for 1 hour. It will appear to have almost tripled in size.
  4. When the hour has passed, gently punch the dough down and turn it out onto a lightly floured work surface; knead into a smooth ball, about 7-8 times, or until it's uniform in texture.
  5. Divide the dough in half, creating two equally sized balls of dough. Using a rolling pin, roll each portion of dough out into a large rectangle, approximately 1/4 inch thick. Using a lightly floured 2 and 1/2 inch round dough cutter, cut an equal amount of circles from each rectangle. Place 1 and 1/2 teaspoons of Nutella in the center of HALF of the circles. Brush the edges lightly with the egg wash, then top with remaining circles of dough. Press the edges together tightly to seal.
  6. Transfer doughnuts to a large, lightly greased baking sheet, spacing them an inch a part (they will rise). Cover pan rightly with saran wrap and set aside for 45 minutes.
  7. When ready to fry, heat oil to 360°. Fry doughnuts, a few at a time, for 1-2 minutes on each side or until golden brown. Quickly roll the warm doughnuts in the cinnamon sugar and serve warm. These doughnuts are best the day they're made, but will "keep" for 3 days when stored in an airtight container.
For the Cinnamon Sugar Topping:
  1. Combine granulated sugar and cinnamon in a small bowl. Set aside until needed.

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