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!

THE BEST CARAMEL CAKE

I love this delicious and beautiful cake! In the past I’ve always stuck with 2 or 3-layer cakes that I can decorate pretty with piping or fruit. Naked cakes (like this berry cake) are fun, easy and beautiful.


This cake gets it's name for a reason! Chocolate poke cake with caramel and sweetened condensed milk, topped with fresh whipped cream and heath bits.

THE BEST CARAMEL CAKE RECIPE



Ingredients

  • 1 chocolate cake , baked in a 9x13'' pan
  • 1 recipe caramel sauce , or one 16oz jar caramel topping
  • 14 ounce can sweetened condensed milk
  • 1 1/2 cups heavy whipping cream
  • 1/4 cup powdered sugar
  • 3-4 heath candy bars , chopped*

Instructions

  1. Bake cake according to directions in a 9x13 pan.
  2. Allow cake cool for about 5 minutes, then poke holes in it with a fork or the handle end of a wooden spoon.
  3. Immediately pour caramel sauce all over the cake. Then pour the sweetened condensed milk (I only usually use about 1/2 of the can of sweetened condensed milk because I think it's sweet enough with just half. But, the traditional recipe uses the entire can. It's up to you!)
  4. Allow the cake to cool completely.
  5. While the cake cools, add the whipping cream to a mixing bowl and beat until soft peaks. 
  6. Add powdered sugar and then beat the mixture until stiff peaks. Smooth the fresh whipped cream over the cooled cake. 
  7. Sprinkle with heath candy pieces. Refrigerate for at least 1 hour, or up to one day, before serving. 
  8. Recipe Notes
  9. *Heath bars also makes a bag of chopped heath bits. It can be found near the chocolate chips at the grocery store. I use about half of the bag for this recipe
  10. Don't miss my tips for making this cake -> found in the post above.

Recipe Source : Better than Anything Caramel Cake @ tastesbetterfromscratch

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