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!

Sock It To Me Cake

Sock It To Me Cake
This classic coffee cake is filled with pecans, brown sugar, and cinnamon and drizzled with a sweet glaze.
ingredients
Cake
  • 1 box (18.25 ounce size) butter cake mix
  • 1/2 cup sugar
  • 3/4 cup vegetable oil
  • 4 eggs
  • 1 teaspoon vanilla extract
  • 8 ounces sour cream
  • 1/2 cup chopped pecans
Filling
  • 2 tablespoons brown sugar
  • 2 teaspoons ground cinnamon
Glaze
  • 1 cup confectioners' sugar
  • 3 tablespoons milk, orange juice or lemon juice
directions
  1. Preheat oven to 350 degrees F. Grease a tube pan. 
  2. In a mixing bowl, combine the cake mix, sugar, and oil an mix until just blended. With the mixer running, add the eggs one at a time. Mix until incorporated. 
  3. Add the vanilla and sour cream to the batter and mix well. Stir in the pecans by hand. 
  4. Pour half of the cake batter into the prepared tube pan. 
  5. In a bowl, mix the brown sugar and cinnamon until blended. Sprinkle the mixture over the cake batter in the pan. 
  6. Gently pour the remaining cake batter into the tube pan over the cinnamon and sugar layer. Do not stir. 
  7. Place the tube pan in the oven and bake at 350 degrees F for 60-65 minutes or until the cake tests done with a toothpick. 
  8. Meanwhile, in a small bowl mix together the confectioners sugar and milk (or juice) until smooth. Set aside. 
  9. When the cake is done, remove from the oven and let cool on a rack in the pan for 5 minutes. 
  10. Place a piece of waxed paper under the cooling rack. Invert the tube pan onto a plate and remove the cake. Invert the plate onto the cooling rack so the cake is right-side up again. 
  11. While the cake is still warm, drizzle with the glaze. Let the cake cool completely before slicing and serving. 
  12. Serve leftover cake in an airtight containe
Recipe Source:cdkitchen.com

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