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!

Hotteok ( 호떡 Pancake with Cinnamon Peanut Syrup Filling )


INGREDIENTS:

Dough
1 packet (7g) Instant active dry yeast
3/4 cup Lukewarm water
1 1/4 cup or more All-purpose flour
1/2 cup Sweet rice flour (Mochiko or Bob's Red Mill sweet white rice flour)
2 tablespoons Sugar
1/4 teaspoon Salt
1 tablespoon plus more Neutral-tasting cooking oil, such as canola or sunflower seed oil
Cinnamon & peanut syrup filling
1/4 cup Turbinado raw cane sugar or brown sugar
1/2 teaspoon Cinnamon powder
1 tablespoon Toasted sesame seeds, crushed
1 tablespoon Honey
1/4 cup Toasted peanuts, chopped roughly

DIRECTIONS:
1. Stir dry yeast in lukewarm water. Break down lumps and set aside until you see a few bubbles. Pour the yeast water into a bowl with all-purpose flour, sweet rice flour, sugar and salt. Mix to incorporate everything completely with your hand until you can form a dough. The dough is pretty wet and sticks to your fingers, but not wet enough to be runny. Adjust consistency with all-purpose flour as necessary.
2. Add oil to the dough and mix until oil is absorbed, about 5 minutes. By now it should be a little shiny and smooth. Cover with plastic and let it rest in a warm place until the dough doubles in size, about 30 minutes to an hour. During this cold season, I keep it next to a heater and it's ready in 15~20 minutes.
3. While you wait for the dough to rise, prepare the filling by mixing sugar, cinnamon powder, sesame seeds and honey completely.  Mix in peanuts to incorporate.
4. Keep a spoonful of oil nearby to dip your fingers whenever the dough starts to stick to your hands. Punch down the dough to remove gas and bring together to shape it like a ball.  Divide the dough in half, cut another half from each piece and then another half from each piece, creating 8 equal-sized pieces. Keep them covered with plastic wrap.
5. Drizzle oil to coat a heated skillet over medium heat. Take a piece of the dough and press down to a round on your palm. Place about 1~2 tablespoons of the filling in the middle. Pull up the edges and seal the dough with your fingers.
6. Reduce heat to low. Carefully put the dough ball with its sealed side down on the heated skillet. Press down with a greased spatula to form a flat round. When the edges turn translucent, check the bottom. When the bottom is golden brown, flip to the other side and press down lightly. When both sides are golden brown, transfer to a plate and cool for 5 minutes since the sugar filling can be very hot right off of the skillet. Repeat with the rest of the dough.
7. This is my own solution for any leftover filling, if you happen to have some. Mix the filling with a few drops of water.  After you cook all the pancakes, melt the syrup on the skillet over low heat. Add a few more drops of water as necessary to adjust consistency. Pour it over the pancakes or serve it separately as a dipping sauce.
If you have any leftover hotteok, cool it down to room temperature, put it in a ziploc bag and store in the freezer. You can reheat it on the stove or in a microwave when you crave hotteok next time!



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