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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!

Sour Cream Pound Cake Recipe

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Sour Cream Pound Cake Recipe is a simple classic and always a crowd-pleaser! It’s creamy and smooth on the inside with a crispy crust on the outside and top. I love that!

Sour Cream Pound Cake Recipe takes 90 minutes to bake since it’s so dense, but well worth the time. It is flavored with vanilla extract and has a vanilla/buttery combo flavor.

This buttery cake is great with fresh fruit, fruit sauce, cool whip, caramel, chocolate or plain. It’s very versatile; this is one reason I like it for potlucks and parties. You can serve a Pound Cake Bar with various toppings and everyone will be happy!
This Sour Cream Pound Cake Recipe is another classic Pound Cake recipe I’ve made for my Pound Cake series. You can get all the recipes here. Of the Whipping Cream Pound Cake, Cream Cheese Pound Cake and this Sour Cream Pound Cake Recipe, my favorite is still the Whipping Cream Pound Cake with this sour cream one being a very close second. It is a very, very close race! Whipping Cream Pound Cake has a slightly deeper, richer taste (slightly) that’s why it is ahead of this Sour Cream Pound Cake Recipe.

Always a crowd-pleaser, Sour Cream Pound Cake Recipe is soft, moist and buttery.

Ingredients
  • 1 cup real butter, no substitutions
  • 3 cups granulated sugar
  • 6 large eggs, room temperature
  • 1 cup (8 ounces) sour cream
  • 1/2 teaspoon salt
  • 1 teaspoon baking powder
  • 3 cups all-purpose flour
  • 1 tablespoon vanilla extract

Instructions
  1. Preheat oven to 350 degrees F.
  2. Coat a 10-inch bundt pan or tube pan with solid vegetables shortening and flour.
  3. Cream butter and sugar until fluffy.
  4. Add eggs one at a time beating each one in before adding the next.
  5. Stir in sour cream.
  6. Combine flour, salt, and baking powder in a small bowl then add to batter 1/2 cup at a time until combined.
  7. Stir in vanilla.
  8. Spoon batter into prepared pan.
  9. Bake 350 degrees for 90 minutes. I always like to start testing at 75 minutes. Carefully insert a long wooden pick into center of cake. Cake is done when dry crumbs or no crumbs stick to the pick.
  10. Allow cake to cool on a wire rack for 1 to 20 minutes before inverting on a tray to cool completely.
Notes
©CallMePMc.com All images & content are copyright protected. Please do not use my images without prior permission. If you want to republish this recipe, please re-write the recipe in your own words, or link back to this post for the recipe.

Recipe Source:callmepmc.com

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