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!

CINNAMON-STREUSEL COFFEECAKE

CINNAMON-STREUSEL COFFEECAKE
in guaranteed classic
Looking for everyone's favorite comfort-food coffeecake? This is it. Soft and moist, nicely cinnamon-y, this is the quintessential breakfast coffeecake.
Note: For those of you looking for a cake with less filling, one where the golden cake itself is the main attraction, reduce the amount of brown sugar in the filling to 1/3 cup, keeping the remaining ingredients the same.
Our guarantee: This golden cake is tender and moist, with a middle layer of dark cinnamon filling and a crumbly streusel topping.

AT A GLANCE
PREP 30 mins.
BAKE 50 mins. to 60 mins.
TOTAL 1 hrs 30 mins.
YIELD 24 servings 

INGREDIENTS  
STREUSEL TOPPING
  • 1 cup granulated sugar
  • 1/4 teaspoon salt (if you use unsalted butter)
  • 1 cup King Arthur Unbleached All-Purpose Flour
  • 1 tablespoon ground cinnamon
  • 6 tablespoons butter, melted
FILLING
  • 1 cup brown sugar, light or dark
  • 1 1/2 tablespoons ground cinnamon
  • 1 teaspoon unsweetened cocoa powder
CAKE
  • 3/4 cup butter
  • 1 teaspoon salt (1 ¼ teaspoons if you use unsalted butter)
  • 1 1/2 cups granulated sugar
  • 1/3 cup brown sugar
  • 2 1/2 teaspoons baking powder
  • 2 teaspoons vanilla extract
  • 3 large eggs
  • 3/4 cup sour cream or plain yogurt
  • 1 1/4 cups milk (anything from skim to whole)
  • 3 3/4 cups King Arthur Unbleached All-Purpose Flour
INSTRUCTIONS
  1. Note: As a result of reader feedback, as of 3/24/17 we've adjusted the ingredient amounts in the streusel to yield a less dry, more pleasantly crumbly topping.
  2. Preheat the oven to 350°F. Lightly grease a 9" x 13" pan, or two 9" round cake pans.
  3. Make the topping by whisking together the sugar, salt, flour, and cinnamon. Add the melted butter, stirring until well combined. Set the topping aside.
  4. Make the filling by mixing together the brown sugar, cinnamon, and cocoa powder. Note that the cocoa powder is used strictly for color, not flavor; leave it out if you like. Set it aside.
  5. To make the cake: In a large bowl, beat together the butter, salt, sugars, baking powder, and vanilla until well combined and smooth.
  6. Add the eggs one at a time, beating well after each addition.
  7. In a separate bowl, whisk together the sour cream or yogurt and milk till well combined. You don't need to whisk out all the lumps.
  8. Add the flour to the butter mixture alternately with the milk/sour cream mixture, beating gently to combine.
  9. Pour/spread half the batter (a scant 3 cups) into the prepared pan(s), spreading all the way to the edges. If you're using two 9" round pans, spread 1 1/3 cups batter in each pan.
  10. Sprinkle the filling evenly on the batter.
  11. Spread the remaining batter atop the filling. Use a table knife to gently swirl the filling into the batter, as though you were making a marble cake. Don't combine filling and batter thoroughly; just swirl the filling through the batter.
  12. Sprinkle the topping over the batter in the pan.
  13. Bake the cake until it's a dark golden brown around the edges; medium-golden with no light patches showing on top, and a toothpick or cake tester inserted into the center comes out clean, about 55 to 60 minutes for the 9" x 13" pan, 50 to 55 minutes for the 9" round pans. When pressed gently in the middle, the cake should spring back.
  14. Remove the cake from the oven and allow it to cool for 20 minutes before cutting and serving. Serve cake right from the pan.
TIPS FROM OUR BAKERS
  • Since butter and sour cream are both key ingredients in this cake, we encourage you to use the best quality you can get. We highly recommend Cabot, a superb Vermont brand available nationally.
  • It's easy to spread half the batter in the pan when you know how much it weighs. If you have a kitchen scale, half the batter weighs about 28 ounces.
  • Want to prepare this coffeecake the night before, then bake in the morning? It's easy; simply cover the unbaked cake with plastic wrap, and refrigerate overnight. Next morning, bake the cake as directed. Start testing for doneness at the end of the suggested baking time; you'll probably have to add 5 minutes or so to the total time, to account for the batter being chilled.
  • Dress it up for guests: Make a glaze with ½ cup confectioners' or glazing sugar and 1 tablespoon milk; drizzle glaze over the cooled coffeecake.



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