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!

PINK LEMONADE CAKE FROM SCRATCH

PINK LEMONADE CAKE FROM SCRATCH
This Pink Lemonade Cake from scratch tastes like summertime!
I just love the uniqueness of this recipe and flavor– Pink Lemonade Cake isn’t a dessert that you see too often, but it should be! Just one bite and you will be convinced. This amazing cake belongs in your recipe file of favorites!
We decided to frost our pink lemonade cake layers with our lemon cream cheese frosting. It compliments this flavorful cake perfectly, making it a dessert that we will turn to for summertime gatherings for years to come. In fact, I have a feeling that I’ll be making this cake year-round…it’s just that good!
Like many of our scratch recipes, this cake is made using the Reverse Creaming Method of mixing. This method refers to the order that ingredients are added, which is a bit different than the traditional way. Cakes made with the reverse creaming method are slightly denser, and have a wonderful velvety quality.
As we mentioned above, we frosted our Pink Lemonade Cake with one of my favorite frostings: Lemon Cream Cheese Frosting.
Enjoy!

PINK LEMONADE CAKE FROM SCRATCH
INGREDIENTS
  • 2 1/2 cups (285g) cake flour
  • 1 1/2 cups (300g) sugar
  • 1/2 teaspoon (3g) salt
  • 2 1/2 teaspoon (12g) baking powder
  • 1 1/2 sticks (12 T) (169g) unsalted butter....Cut into 1/2 inch slices onto waxed paper to soften slightly (still very cool
  • to the touch). If it becomes too soft, refrigerate for a few minutes. Do not soften in microwave
  • 4 large eggs
  • 3/4 cup (190g) frozen pink lemonade concentrate (thawed) ( if you cannot find pink, you can use regular frozen lemonade)
  • 1/2 cup (121g) milk
  • 1 Tablespoon (10g) lemon extract
  • zest of 1 lemon
  • pink coloring gel, if you want the cake layers to be pink....we used AmeriColor Deep Pink
DIRECTIONS
  1. Preheat the oven to 350 degrees
  2. Grease and flour two 8 x 2 inch round pans
  3. In the bowl of your mixer add the dry ingredients, flour, sugar, salt and baking powder. Whisk to combine dry ingredients for 30 seconds.
  4. In a separate bowl, add the eggs, Pink Lemonade concentrate, lemon extract, zest & milk.
  5. With the mixer on low speed, add the slices of butter a few pieces at a time to the dry ingredients. Increase the mixer to medium speed and beat until the dry ingredients look crumbly like coarse sand. Scrape sides and bottom of the bowl.
  6. Method is important when using Reverse Creaming. With the mixer on low speed SLOWLY ADD 1/2 of the egg mixture, increase to medium speed for 1 1/2 minutes. The batter will become thick and fluffy. Scrape the bottom and sides of the bowl. ADD THE PINK GEL COLOR, Add the remaining egg mixture in 2 pourings, beating for 20 seconds after each addition.
  7. Bake at 350 degrees for 25 to 30 minutes or until a toothpick inserted into the center comes out clean or with just a few crumbs attached.
  8. Let the cakes cool in the pan 10 minutes, then turn out.
  9. Works well for cupcakes
  10. Makes 7 cups batter
Note:
* The Decoration: To decorate the cake, I filled the cake layers with our Lemon Cream Cheese frosting recipe, and then frosted a thin crumb coat. Then, I used a 2D piping tip to pipe vertical lines around the sides, piping from bottom to top all the way around.
Then, I used a french tip (Ateco 869) to pipe stars all over the top with the lemon cream cheese frosting. I love this simple style of decorating! So quick, easy, and inviting! I wish I had a slice right now.

*When working with cream cheese frosting, it it is likely to become soft more quickly than buttercream (especially if your kitchen or hands are warm).
If you notice that it becomes too soft to easily pipe or hold it’s shape, chill it in the refrigerator for a few minutes. You can even alternate between two piping bags if you’d rather.





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