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!

Crazy Banana Cake with Cream Cheese Icing

The ultimate classic Baked Mac and Cheese, with an insane cheesy sauce and topped with an irresistible golden, buttery breadcrumb topping. Prepare yourself for the heart-stopping moment in the recipe video when I pull this bubbling beauty out of the oven…..and the stretchy cheese shot!
One bite of this super- moist crazy banana cake with cream cheese icing will have them begging for more. The way you bake and cool it is kind of crazy, but that’s the secret to this cake’s success.

Ingredients
  • Macaroni:
  • 250 g / 8 oz macaroni (elbow pasta)
  • 1 tbsp / 15 g unsalted butter (or 2 tsp oil)
  • Topping:
  • 2/3 cup / 40g panko breadcrumbs (Note 1)
  • 2 tbsp / 30 g unsalted butter
  • 1/4 tsp salt
  • Sauce:
  • 60 g / 4 tbsp unsalted butter
  • 1/3 cup / 50g plain flour (all purpose flour)
  • 3 cups / 750 ml milk, warmed (low or full fat)
  • 2 cups / 200g shredded cheese (favourite is gruyere, next is cheddar and Colby) (Note 2)
  • 1 cup / 100g shredded mozzarella cheese, or more other cheese of choice (Note 2)
  • 3/4 tsp salt
  • Seasonings (optional):
  • 1 tsp garlic powder
  • ½ tsp onion powder
  • ½ tsp mustard powder

Instructions
  1. Pasta:
  2. Bring a large pot of water to the boil. Add macaroni and cook per packet directions MINUS 1 minute.
  3. Drain, return pasta to pot, add butter and toss until melted. Set aside to cool while making the Sauce (Optional - Note 3).
  4. Topping:
  5. Mix together Topping. Set aside.
  6. Sauce (video is helpful):
  7. Preheat oven to 180C/350F.
  8. In a large saucepan or in an ovenproof skillet (I use my 26cm/9" Lodge cast iron skillet), melt butter over medium heat. Add flour and cook, stirring constantly, for 1 minute.
  9. Add about 1 cup of the milk and mix to dissolve the paste into the milk. Then add remaining milk and mix until lump free (use whisk if required).
  10. Mix in salt and Seasonings if using.
  11. Cook, stirring/whisking regularly, for 5 - 8 minutes until thickened to a cream consistency. When the Sauce coats the back of a wooden spoon, you should be able to draw a path with your finger.
  12. Remove from stove, add cheese and stir - cheese doesn't need to melt.
  13. Adjust salt to taste.
  14. Assembling:
  15. Pour Sauce into pot with Macaroni. Stir quickly, then pour back into the skillet (I did this) or a baking dish. Sprinkle with breadcrumb topping.
  16. Bake for 25 minutes or until top is light golden. Don't bake too long otherwise you'll bake away the Sauce!
  17. Serve immediately! I sprinkled mine with a bit of fresh parsley.
Recipe Notes
1. Panko breadcrumbs are larger pieces than normal breadcrumbs which creates a really nice extra crunchy topping. It can be found in the Asian section of supermarkets here in Australia.
If using normal breadcrumbs, use cup measures not weights (because they weigh more).

2. The Main Cheese (2 cups) should be a flavoured cheese. My favorites are: cheddar, Monterey Jack, Colby, provolone and Gruyere (I used this in the video). Gruyere is my favourite - it's not cheap here, so it's a treat!
You can actually use any cheese you want, just make sure that it's a melting cheese (e.g. don't use feta, cream cheese, processed cheeses. I also don't recommend Swiss or Masdaam cheese, doesn't melt that well into sauces). AUSTRALIA: Do not use Tasty Cheese! I have found that some brands can result in the sauce being a bit floury. Some are ok, some are not - safer to say don't use Tasty Cheese.

I like to use mozzarella for the 2nd cheese (1 cup). It melts really well into the sauce, has that nice stretch, and isn't as oily like other cheese can tend to be. However, you can just use more of the Main Cheese. 
3. Tossing the cooked pasta with butter provides a light coating that helps prevent it from bloating while baking in the sauce. This is also the reason why I let the pasta cool before mixing in with the sauce. You could just make the sauce while the pasta is cooking.

4. MAKE AHEAD: Mac and Cheese is best made fresh but if you need to make ahead, this is the best way. Cook pasta and toss in butter, cool. Make cheese sauce per recipe, then cool with LID ON (important, to avoid evaporation). Make topping. Store all components separately in the fridge until required. Mix sauce and pasta, top with topping then bake per recipe.

5. REHEATING: Mac and Cheese if best served fresh, and the best way to make ahead is in Note 4. But if you can't do that, then take it out of the oven as soon as the top is light golden at about 20 minutes. Then it will be saucier than cooking for the full time which is fine. Cool completely uncovered, then cover in cling wrap and refrigerate. Then remove from fridge 30 minutes before reheating. Best way to reheat is in the microwave, covered in cling wrap, on medium for 8 - 10 minutes or until the centre is hot (stick knife in to check). Then grill/broil just for a few minutes to get that top crisp again - add a few dabs of butter or even spray with oil if you think it needs the encouragement to perk up again! 
  
6. Baked Mac and Cheese nutrition per serving.

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