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!

HOMEMADE BAKLAVA RECIPE

This Homemade Baklava recipe takes time, but it is SO worth it! This Baklava is perfect for family functions, parties, or for gifting!


This homemade baklava is super time-intensive but I would argue that it is well worth the time. It’s such a delicious and impressive dessert that’s perfect for fall.


Notes :
  • A straight-sided traditional metal baking pan works best for making baklava; the straight sides give the Baklava nicely shaped edges.
  • Make sure that the phyllo is fully thawed before use; leave it in the refrigerator overnight or on the countertop for four to five hours. When assembling, use the nicest, most intact phyllo sheets for the bottom and top layers; use sheets with tears or ones that are smaller than the size of the pan in the middle layers, where their imperfections will go unnoticed

HOMEMADE BAKLAVA RECIPE
This homemade baklava is super time-intensive but I would argue that it is well worth the time. It’s such a delicious and impressive dessert that’s perfect for fall.

INGREDIENTS
Sugar Syrup:
  • 1 ¼ C granulated sugar
  • ¾ C water
  • ⅓ C honey
  • 1 T lemon juice
  • 3 strips lemon zest, removed in large strips with vegetable peeler
  • 1 cinnamon stick
  • 5 whole cloves
  • ⅛ t table salt
Nut Filling:
  • 8 ounces blanched slivered almonds
  • 4 ounces walnuts
  • 1 ¼ t ground cinnamon
  • ¼ t ground cloves
  • 2 T granulated sugar
  • ⅛ t table salt
Pastry and Butter:
  • 1 C unsalted butter, melted
  • 1pound frozen phyllo, thawed
INSTRUCTIONS
For the sugar syrup: 
  • Combine syrup ingredients in small saucepan and bring to full boil over medium-high heat, stirring occasionally to ensure that sugar dissolves. 
  • Transfer to 2-cup measuring cup and set aside to cool while making and baking baklava; when syrup is cool, discard spices and lemon zest. (Cooled syrup can be refrigerated in airtight container up to 4 days.)
For the nut filling: 
  • Pulse almonds in food processor until very finely chopped, about twenty 1-second pulses; transfer to medium bowl. 
  • Pulse walnuts in food processor until very finely chopped, about fifteen 1-second pulses; transfer to bowl with almonds and toss to combine. 
  • Measure out 1 tablespoon nuts and set aside for garnish. Add cinnamon, cloves, sugar, and salt; toss well to combine.
To assemble and bake: 
  • Brush 13- by 9-inch traditional (not nonstick) baking pan with butter. 
  • Adjust oven rack to lower-middle position and heat oven to 300 degrees. 
  • Unwrap and unfold phyllo on large cutting board; carefully smooth with hands to flatten. Using the baking pan as a guide, cut sheets crosswise with chef’s knife, yielding two roughly evenly sized stacks of phyllo (one may be narrower than other).
  • Cover with plastic wrap, then damp kitchen towel to prevent drying.
  • Place one phyllo sheet (from wider stack) in bottom of baking pan and brush until completely coated with butter. Repeat with 7 more phyllo sheets (from wider stack), brushing each with butter.
  • Evenly distribute about 1 cup nuts over phyllo. Cover nuts with phyllo sheet (from narrower stack) and dab with butter (phyllo will slip if butter is brushed on). Repeat with 5 more phyllo sheets (from narrower stack), staggering sheets slightly if necessary to cover nuts, and brushing each with butter. Repeat layering with additional 1 cup nuts, 6 sheets phyllo, and remaining 1 cup nuts. Finish with 8 to 10 sheets phyllo (from wider stack), using nicest and most intact sheets for uppermost layers and brushing each except final sheet with butter.
  • Use palms of hands to compress layers, working from center outward to press out any air pockets. Spoon 4 tablespoons butter on top layer and brush to cover all surfaces. Use a bread knife or other serrated knife with pointed tip in gentle sawing motion to cut baklava into diamonds, rotating pan as necessary to complete cuts. (Cut on bias into eighths on both diagonals.)
  • Bake until golden and crisped, about 1 ½ hours, rotating baking pan halfway through baking. Immediately after removing baklava from oven, pour cooled syrup over cut lines until about 2 tablespoons remain (syrup will sizzle when it hits hot pan); drizzle remaining syrup over surface. Garnish center of each piece with pinch of reserved ground nuts. Cool to room temperature on wire rack, about 3 hours, then cover with foil and let stand at least 8 hours before serving. (Once cooled, baklava can be served, but flavor and texture improve if left to stand at least 8 hours. Baklava can be wrapped tightly in foil and kept at room temperature up to 10 days.).
Recipe Adapted : BAKLAVA @ foodfolksandfun

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