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!

Peach Cake with Brown Sugar Frosting and MY SISTER WROTE A NOVEL, BUY IT!

A delightfully peachy cake made from a cake mix and a packet of Jello, of all things! There are real peaches in the cake, which makes it super moist (ok, and a lot of oil). It is topped with a rich brown sugar frosting!

GUYS! I’ve been waiting for this day for years. YEARS. (I actually just stumbled on an old blog post of mine from 2013 where I talk about this day.)
It’s also super rich. The cake is sweet and the frosting is even sweeter. It is the same super fudgey frosting that goes on top of Nana’s Famous Fudge Brownies, except I left out the chocolate and used brown sugar instead of white. The result is an ultra decadent, caramel-y icing.
I think it’s an amazing combo. Brown sugar + peaches, HELLO. But if you think it sounds overwhelming, you could swap out the brown sugar frosting for the cream cheese frosting that goes on the Blackberry Cake. (Omit the coconut extract.)

I brought this over to my friend Sarah’s house today and she told me that she hates Jell-O and hates box mixes but she loved this cake. WIN!


Ingredients
FOR THE CAKE
  • 1 (15 ounce) box yellow cake mix
  • 2 (3 ounce) boxes Peach Jell-O, not made
  • 4 eggs
  • 1 cup oil*
  • 1 (16 ounce) bag frozen peaches, do not thaw**

FOR THE FROSTING
  • 1/2 cup (1 stick) salted butter
  • 2 cups brown sugar, packed
  • 2/3 cup heavy cream
  • 1 teaspoon vanilla
  • ice water (for an ice bath, not to go in the recipe)

Instructions
  1. Preheat the oven to 350 degrees F.
  2. Grease a 9x13 inch cake pan.
  3. In a large bowl or stand mixer, beat together the cake mix, 2 boxes of peach Jell-O, 4 eggs, and the cup of oil.
  4. Open the bag of frozen sliced peaches. Cut each slice in half so they are a little more bite size.
  5. Use a sturdy wooden spoon to fold the peaches into the cake batter.
  6. Pour the batter into the greased cake pan.
  7. Bake at 350 for about 40-45 minutes. Check the center of the cake with a toothpick; if it comes out without batter it is done. (very moist crumbs are ok.) The edges will be quite brown.
  8. Let the cake cool completely on a wire rack.
  9. While the cake cools, make the brown sugar frosting. In a 2 quart pot, add butter, brown sugar, and heavy cream.
  10. Stir together over medium high heat until it reaches a boil (bubbles all the way across the top). Set a timer for 1 minute and stir frequently.
  11. Remove from heat. Stir in the vanilla.
  12. Prepare an ice bath. Set the pot of frosting in the ice bath (don't get water in the frosting!!) Let the frosting cool in the ice bath, scraping sides occasionally, until the frosting is room temperature and much thicker. See photos.
  13. Use a hand mixer to beat the frosting for about 3-5 minutes, until it is thicker but still pourable.
  14. Spread the frosting over the cooled cake.
  15. This keeps on the counter for a day or two, but after that I would put it in the fridge. Good luck keeping it around that long!

Recipe Notes
* I like to use light tasting olive oil, but you can use any vegetable oil.

**I've never tried it, but I think this would work fine with fresh or canned peaches. Just make sure they are drained VERY well. I wanted to try the recipe with fresh, but it's May and they just aren't available yet!

Recipe Source:thefoodcharlatan.com

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