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!

BOSTON CREAM POKE CAKE

This Boston Cream Poke Cake is so easy and scrumptious. Plan to take this one-pan dessert to your next gathering, it'll be a hit! This Boston Cream Poke Cake is so easy and scrumptious! Everyone will be raving over the delicious combination of yellow cake, vanilla pudding custard, and chocolate glaze.


I decided to make the chocolate glaze from scratch since I’m a bit of a chocoholic. You could certainly use canned chocolate frosting if you want, but the chocolate ganache is simple enough that it doesn’t take much more than melting a few ingredients together.

Ingredients

  • 16.25 ounce yellow cake mix plus ingredients to prepare
  • 6.8 ounces instant vanilla pudding mix 2 (3.4oz) boxes
  • 4 cups milk
  • 1/2 teaspoon vanilla
  • 8 ounces semi-sweet chocolate chips 1 1/3 cups
  • 1 tablespoon corn syrup
  • 1 cup heavy cream

Instructions

  1. Prepare and bake the cake in a 13x9 pan according to the package instructions. Let cool completely before poking holes across the cake with the bottom of a wooden spoon. Be sure to poke all the way to the bottom of the pan.
  2. In a large bowl, whisk together pudding, milk, and vanilla, but don't let it thicken, Pour the thin pudding over cake in an even layer, poking down into the holes if necessary. 
  3. Refrigerate the cake for one hour.

Chocolate Glaze

  1. Place the chocolate chips and corn syrup in a heat-proof bowl. 
  2. In a small saucepan over low heat, warm the cream until it simmers, stirring occasionally. Alternatively, you can microwave the cream until hot. 
  3. Pour hot cream over chocolate chips and let sit for 2 minutes to melt. 
  4. Stir until smooth. Let the glaze cool for 10 minutes.
  5. Pour glaze over cake and smooth with a spatula. Chill cake for 4 hours or overnight before serving.

Recipe Source : BOSTON CREAM POKE CAKE @ amandascookin


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