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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!

Chocolate Covered Strawberry Cake

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One of my favorite holiday of the year is Valentine’s Day! Not because I want flowers or chocolate, I just LOVE celebrating LOVE! And, all the Valentine’s Day Sweets are so pretty! There is just something about hearts, sprinkles, chocolate and strawberries that gets my heart racing. Of course, my hubby does that too.



Be sure to check out my recipe below and all the other Sweet Valentine’s Day Treats as well!



Ingredients:

Cake:
1 white box cake mix
1 package strawberry gelatin (3 oz)
1 cup sugar
1 cup all purpose flour
1 cup sour cream
3 eggs
1 cup strawberry puree

Buttercream:
3 sticks of room temperature butter
5 cups powdered sugar (sifted)
2 tbsp heavy whipping cream
1 tsp vanilla extract

Puree:
1 cup chopped fresh strawberries
¼ cup granulated sugar
¼ cup water

Ganache:
½ cup milk or semi-sweet chocolate
¼ cup heavy whipping cream


Directions:

Make the strawberry puree mixture by combining all ingredients in a small saucepan and heat at a medium heat. Bring to a boil for one minute then remove from heat. Pour into a food processor and blend until there are no large chunks. Set aside to cool
Preheat your oven to 325 degrees F.
Make the cake by combining all dry ingredients in a large mixing bowl or bowl of a stand mixer. Add in the wet ingredients and puree and mix until well combined and smooth.
Prepare 3 6” cake pans with nonstick spray and distribute the batter evenly between the three pans.
Bake at 325 for 35-45 minutes or until a toothpick inserted in the center of the cake comes out clean.
Allow the cakes to cool.
Prepare your buttercream by creaming your butter with a paddle attachment until soft and fluffy. Add in the powdered sufar one cup at a time until combined. Add in the heavy whipping cream and vanilla and mix for 3-4 minutes.
Once cakes are cooled. Level cakes with a serrated knife or cake leveler. (not required but it will give a better appearance)
Place one layer of cake on a cake board or plate and top with a generous amount of buttercream and even.
Continue with the other two layers.
Continue adding the buttercream around the outside of the cake and smooth.
Prepare the ganache by adding the chocolate and whipping cream in a microwave safe bowl and heat for 30 second increments until melted. Make sure there are no lumps remaining in the chocolate. Let cool for about 3 or 4 minutes and then drip over the top of the cake using a small spoon.
Dip some fresh strawberries in the chocolate and add on top as a garnish,


Optional: Honeycomb candy topper

1 cup pink candy melts
2 tbsp vegetable shortening
Bubble wrap
Directions:
Combine the candy melts and shortening in a microwave safe bowl and melt on 30 second increments until completely melted and smooth. If the mixture does not smooth out, you can add more shortening and mix.
Place a small piece of clean bubble wrap on a plate and spoon a small amount of the candy melts on the bubble wrap and smooth as thin as possible. Continue until you run out of candy melts.
Place in the freezer until frozen and place on the cake.


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