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!

APPLE CIDER BUNDT CAKE RECIPE

This delicious Cake baked in a pretty bundt pan, this apple cider bundt cake features apple cider, applesauce, and warming spices.


Brushed with butter and sprinkled with cinnamon-sugar (a nod to the sugar-spice coating of your favorite apple cider doughnut), this cozy cake is perfect for the season.

INGREDIENTS
Cake
  • 2 1/2 cups flour
  • 3/4 tsp aluminum-free baking powder
  • 1/4 tsp baking soda
  • 1/2 tsp cinnamon
  • 1/4 tsp ginger
  • 1/8 tsp cloves
  • 1/2 tsp salt
  • 10 Tbsp unsalted butter, at room temperature
  • 1 1/4 cups sugar
  • 2 large eggs, at room temperature
  • 1 cup apple cider
  • 3/4 cup unsweetened applesauce
  • 2 tsp vanilla extract
Topping
  • 1/4 cup sugar
  • 1/2 tsp cinnamon
  • 2 Tbsp unsalted butter, melted
INSTRUCTIONS
  1. Preheat oven to 350°F and spray a 10-cup bundt pan generously with nonstick spray. Whisk together flour, baking powder, baking soda, spices, and salt in a medium bowl.
  2. Beat butter and sugar in a large mixer bowl on medium speed until pale and fluffy. Reduce speed to low and add eggs one at a time. Combine apple cider, applesauce, and vanilla in a small bowl. Beat in flour mixture in three additions, alternating with apple cider mixture (begin and end with flour mixture), just until incorporated.
  3. Spoon batter into prepared bundt pan and smooth with an offset spatula. Tap pan sharply to reduce air bubbles. Bake for 45 to 50 minutes, until cake is golden, springs back to the touch, and a tester inserted in the center comes out clean or with a few crumbs attached. Cool in pan on a wire rack for 10 minutes; carefully invert onto rack.
  4. Place rack with cake over a piece of wax paper. Combine sugar and cinnamon in a small bowl. Brush warm cake with melted butter and sprinkle generously with cinnamon-sugar. Let cake cool completely before serving. Store leftovers in an airtight container up to 2 days.
Recipe Adapted : Apple Cider Bundt Cake @ tutti-dolci

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