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!

RIDICULOUS CHOCOLATE CAKE

RIDICULOUS CHOCOLATE CAKE
This is the most RIDICULOUS Chocolate Cake I’ve ever made…seriously delicious, super easy and crazy moist (sorry). There is so much to love about this cake!
You all know I am not opposed to using a cake mix from time to time. I, personally, look at cake mixes like any other ingredient. I don’t use them all the time, as I find making a cake from scratch is just as easy, but there are times when there is no substitute. Today is an example of that.

The base for this stupid-good cake is a chocolate cake mix. It’s not negotiable. There is a time and place for “from scratch” cakes, I totally agree, but not today. I mean, have you ever tried my Earthquake Cake?
Now that we are all on the same cake mix page, let’s talk a little more about this slice of perfection. The texture is so soft…I mean we add pudding mix, sour cream and a whole load of chocolate chips. You honestly could skip the frosting and dust it with a little powdered sugar if you feel so inclined, but since frosting-skipping is against my religion I won’t press the issue.
It’s the perfect little cake to take to any party, or even whip up on a weeknight. I REALLY want you to try this one.
The batter is really really easy. Please note, though, I add a box of chocolate pudding to the cake mix, so don’t buy the cake mix with pudding “in the mix”. I know this is confusing…like why couldn’t you omit the pudding and just buy the cake mix with it already added? Great question…
It’s not the same. I’ve tried it both ways and adding your own pudding mix is just BETTER. I don’t make the rules, folks.
Also add in 2 whole cups of chocolate chips to the cake. Seriously good.
Since the batter is fairly thick, the chocolate chips don’t sink at all!
The cake batter is so dreamy.
Just spread it into a heavily greased bundt pan…
And when it’s baked it will look like this…
Just invert the cake onto a cake pan and allow it to cool. OR if you aren’t frosting it (blasphemy) try it warm and die at how good it is.
But if you’re a rule follower, go ahead and make some super creamy chocolate frosting…
And spread it on top of your gorgeous cake.
AND if you’re feeling fancy add a few chocolate chips on top. I mean why not at this point!
And then EAT!
I can’t WAIT for you to try this one!


Ridiculous Chocolate Cake
Author: Cookies & Cups 
Yield: serves 12

Ingredients
Cake
  • 1 (15.25 ounce) box chocolate cake mix
  • 1 (3.9 ounce) box instant chocolate pudding
  • 1 (16 ounce) container sour cream
  • 3 eggs
  • 1/3 cup vegetable oil
  • 1/2 cup water
  • 2 cups semi-sweet chocolate chips
Frosting
  • 1/4 cup butter, room temperature
  • 1/4 cup unsweetened cocoa powder
  • 2 cups powdered sugar
  • 1 teaspoon vanilla
  • 1/4 cup heavy cream
Instructions
Cake
  1. Preheat oven to 350°F. Liberally grease a 10- inch bundt pan with butter or shortening and lightly dust with flour. Set aside.
  2. In the bowl of your stand mixer fitted with the paddle attachment combine all the cake ingredients. Mix on low for 30 seconds until combined and then on medium speed until smooth, about 1 minute. Stir in the chocolate chips and pour the batter into the prepared pan.
  3. Bake for 55-60 minutes, until the cake is set. Allow the cake to cool in the pan for 10 minutes and then invert the pan onto a cake plate. Cool completely before frosting.
Frosting
  1. In the bowl of your stand mixer fitted with the paddle attachment on low speed beat the butter, cocoa powder and powdered sugar until combined. Add in the vanilla and cream and beat on medium speed for 1-2 minutes until creamy, scraping the sides of the bowl as necessary.
  2. Frost the top of the cake and garnish with more chocolate chips if desired.

Notes
recipe lightly adapted from all recipes.



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