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!

GLUTEN-FREE VEGAN LEMON POPPY SEED CAKE

As my Lemon Drizzle Cake is one of the most popular baking recipes I’ve posted, I decided to make more lemon dessert recipes, and this Gluten-Free Vegan Lemon Poppy Seed Cake is my answer!

The cake is made using my go-to vegan, gluten-free and refined sugar free sponge recipe: it comes together easily in one bowl, uses familiar ingredients and it’s super versatile too. The coconut oil can be substituted for vegetable or olive oil, the maple syrup can be substituted for any other liquid sweetener such as agave or brown rice syrup, and you can use any type of plant-based milk.

The sweet tanginess of the citrusy sponge goes so well with the nutty poppy seeds. I decided to add a lemon drizzle syrup for extra moistness, sweetness and lemon flavour!
The syrup is refined sugar free and low-maintenance too, as it doesn’t require any cooking and you can quickly mix it together whilst you’re waiting for the cake to bake in the oven. It’s important to pour the syrup over the cake whilst it’s still warm from the oven, because that’s the best way for it to be absorbed.

This Gluten-Free Vegan Lemon Poppy Seed Cake is moist and fluffy, sweet and tangy and super easy to make! 

Ingredients
For the cake:
  • 60 g (1/4 cup) coconut oil (or sub olive or vegetable oil)
  • 200 ml (4/5 cup) milk, any kind
  • Juice of 1 lemon
  • Zest of 1 lemon
  • 8 tablespoons maple syrup (or sub any other sweetener)
  • 1 teaspoon vanilla extract
  • Pinch of salt
  • 3 tablespoons poppy seeds
  • 150 g (1 1/4 cups) ground almonds (almond meal/flour)
  • 150 g (1 1/4 cups) gluten-free flour blend (or sub plain flour if not gluten-free)
  • 2 heaped teaspoons baking power (ensure gluten-free if necessary)
  • 1/4 teaspoon bicarbonate of soda (baking soda)

For the syrup:
  • Juice of 1/2 lemon
  • 4 tablespoons maple syrup

Instructions

For the cake:
  1. Preheat oven to 180 degrees Celsius (350 degrees Fahrenheit)
  2. Place the coconut oil in a large bowl and melt over a saucepan of boiling water or in the microwave (skip this step if using any other oil)
  3. Once melted, add the milk to the same bowl along with the lemon juice, lemon zest, maple syrup, vanilla, salt, poppy seeds and ground almonds
  4. Sift in the flour, baking powder and bicarbonate of soda
  5. Mix well, adding a tiny splash more milk if it’s looking too dry
  6. Transfer mixture into mini loaf tins*
  7. Bake in oven for 15-20 minutes until risen and golden brown and an inserted skewer comes out clean
For the syrup:
  1. Whilst the cake it baking, mix together the lemon juice and maple syrup
  2. Drizzle it over the cake as soon as it's out of the oven - it will soak into the cake better when it's hot
  3. Be sure to wait for the cake to cool completely before cutting
  4. This cake tasted best eaten on the day it was made, and leftovers taste best reheated in a dry frying pan or the microwave
Recipe Notes
*Instead of mini loaves, you can also make these into:
cupcakes - makes around 12 cupcakes, and cook for around 15 minutes
one large cake - use a 7inch/18cm baking tin, and cook for around 30 minutes

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