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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!

PUTO (FILIPINO STEAMED CAKE)

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I love holidays. It is the time when my boys come home and spend time with me and my husband. In the past, we used to play cards and board games. But this year, we are spending time talking or watching movies. Meals are usually long and a fun time. I try to cook dishes that we all love and enjoy. Today, I made Puto, a snack that I used to make for my kids when they were young.



WHAT IS PUTO?

Puto is a Filipino snack that is served any time of the year. It is the perfect dish to bring to a gathering or potluck because it’s easy to eat and to transport. It is a steamed sweet cake that is traditionally made from ground rice. It is eaten by itself, with butter or grated coconut. However, this recipe is an adapted version, using cake flour instead of ground rice. There are many variations of puto that include different flavoring such as ube (purple yam) and pandan. It can also be topped with cheese or salted egg.




Puto (Filipino Steamed Cake)

Prep Time
25 mins
Cook Time
20 mins
Total Time
45 mins


Puto is a Filipino steamed sweet cake that is the perfect snack or potluck food.

Course: Snack
Cuisine: Filipino
Servings: 48 mini puto
Calories: 32 kcal

Ingredients
1 ¾ cups cake flour
1 cup sugar
2 tablespoons baking powder
¼ teaspoon salt
1 ½ cups water
2 egg whites
¼ cup fresh milk

Instructions
Fill a 12-inch pan halfway with water and set over high heat.
In a bowl, sift together cake flour, sugar, baking powder and salt. Set aside.
In another bowl, combine water, egg whites and fresh milk. Using a hand mixer, beat the mixture at low speed for 5 minutes.
Add the sifted dry ingredients and blend until smooth.
Strain the batter into another bowl to ensure that there are no lumps.
Lightly brush a mini muffin tin with vegetable oil.
Fill muffin tin ¾ full with the batter.
Once the water in the pan is boiling, place the muffin tin in the pan and cover the pan with a lid.
Steam the puto for 5 minutes or until a toothpick inserted in the center of the puto comes out clean.
Once the puto is cooked, remove from the pan and allow to cool at least 30 seconds before removing from the muffin tins.
Repeat steps 6 to 10 three more times, making sure there is enough water in the pan each time.
Recipe Notes
This recipe was adapted from the cookbook “Goldilocks Bakebook”.






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