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!

Double Fudge Coca-Cola Cake

This cake is so good y’all, I can barely contain myself from going to make another one as I type this. Most folks in the south are familiar with this beloved cake. It’s basically a good ole chocolate-y cake with Coca Cola as one of the ingredients.



Now, most people can’t really taste the Coke as a separate ingredient in this. It just adds  that extra little something special that you can’t quite put your finger on. Is it a little sweeter? Is it spongier? Is it smoother? It’s all of those things and more. It’s just plain ole goodness on a plate. I suppose there are a few recipes for this cake floating around. Some have marshmallows in them and some are made totally from scratch.

This cake is simple, it’s chocolate-y, it’s fudgy, it is so incredibly moist and frosting !


Double Fudge Coca-Cola Cake Recipe

This cake is so good y’all, I can barely contain myself from going to make another one as I type this. Most folks in the south are familiar with this beloved cake. It’s basically a good ole chocolate-y cake with Coca Cola as one of the ingredients.


Ingredients

  • 1 box chocolate fudge cake mix
  • 1 4 oz (small box) instant chocolate pudding
  • 3 eggs
  • 1/3 cup oil
  • 1 cup Coca-Cola
  • 1 stick salted butter
  • 3 tbsp unsweetened cocoa
  • 4-6 tbsp heavy cream or milk* see notes below
  • 2 cups powdered sugar packed
  • 1 tsp vanilla extract
  • 1/2 cup chopped nuts optional
Instructions
  1. Preheat oven to 350F degrees.
  2. Spray 9 x 13 baking pan with nonstick cooking spray.
  3. In a large bowl, with an electric mixer, stir together cake mix, dry pudding mix, eggs, oil and Coke for about 2 minutes on medium speed.
  4. Pour batter into prepared baking dish and bake according to package directions (usually 35-40 minutes). Note: The cake will have a slight dip in the center. This is normal. When it is done, a toothpick will come out clean.
  5. In a medium saucepan, over medium-low heat, start melting butter.
  6. Add in cocoa powder and heavy cream (or milk, if using) and stir.
  7. Then whisk in confectioners sugar. Stir briskly with a whisk to get all the lumps out.
  8. Take mixture off heat and stir in vanilla extract.
  9. Pour frosting over cake and evenly spread it out over cake.
  10. Sprinkle chopped nuts on top, if using. I think this cake is best served warm with a scoop of vanilla ice cream. 

Recipe Notes
  • If you are using milk instead of heavy cream, you will probably only need about 3-4 tbsp. of it because milk is thinner than heavy cream. Just use your judgement on it. Start with less and add a little at a time to get the right consistency. Or, you can always add a bit more powdered sugar to the frosting to make it thicker if you like. Serve warm with a scoop of vanilla ice cream.
Nutrition Facts
Double Fudge Coca-Cola Cake
Amount Per Serving
Calories 418Calories from Fat 171
% Daily Value*
Total Fat 19g29%
Saturated Fat 4g20%
Cholesterol 61mg20%
Sodium 544mg23%
Potassium 211mg6%
Total Carbohydrates 58g19%
Dietary Fiber 1g4%
Sugars 42g
Protein 5g10%
Vitamin A9.7%
Calcium7.6%
Iron13.1%
* Percent Daily Values are based on a 2000 calorie diet.


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