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!

Lemon Blueberry Cake



This lemon blueberry cake starts with a moist & tender lemon cake that's dotted with juicy blueberries. Then it's topped with cream cheese frosting that has just a hint of lemon.

Ingredients
Lemon Blueberry Cake
2 1/4 cups cake flour*
2 teaspoons baking powder
1/2 teaspoon salt
3/4 cup unsalted butter**
1 1/2 cups granulated sugar
2 tablespoons lemon zest
2 teaspoos vanilla extract
3 large eggs
1/4 cup lemon juice , freshly squeezed
2/3 cup buttermilk
1 1/2 cups blueberries , fresh or frozen
2 teaspoons cake flour
Cream Cheese Frosting
1/2 cup unsalted butter , softened
8 oz brick-style cream cheese
1 teaspoon lemon juice
3 - 3.5 cups powdered sugar
1 tablespoon cream , as needed

Instructions

Preheat the oven to 350F degrees. Grease and flour a 9x13 inch cake pan.

In a medium bowl sift together the flour, baking powder and salt.

In a large bowl beat together the butter, sugar and lemon zest until fluffy. (About 2-3 minutes).

Add in the vanilla extract and beat in the eggs 1 at a time.

In a liquid measuring cup whisk together the lemon juice and buttermilk.

With the mixer on low speed, beat about 1/3 of the flour mixture into the butter mixture followed by about 1/3 of the milk mixture.
Continue the process of alternating between the flour & milk until just combined, turning off the mixer and scraping down the sides of the bowl as necessary.

Toss the blueberries with the 2 teaspoons of flour, then gently fold into the batter with a spatula.

Pour the batter into the prepared pan. Bake for 25-30 minutes, or until an inserted toothpick comes out clean. 

Cream Cheese Frosting

Beat the butter until soft, then mix in the cream cheese.

Add in the lemon juice and mix in 3 cups of the powdered sugar, starting with the mixer on low speed and then turning up to medium as it starts to combine.

Beat in 1 tablespoon of whipping cream, and then mix in the rest of the powdered sugar as necessary, going little by little and adding more cream if needed.

Frost the cooled cake, and optionally decorate with blueberries and lemon slices. 

Recipe Notes

*If you don't have cake flour, measure out 2 1/4 cups all-purpose flour. Remove 1/3 cup and replace it with 1/3 cup cornstarch. Sift together 4 times.

**Use unsalted butter, softened to room temperature.

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