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!
Chocolate Whoopie Pie Cake
Let me introduce you to one of the BEST cakes you will ever have. Seriously, I love this cake. Every layer of flavor is out of control delicious. A dense, fudgy cake with a soft and pillowy marshmallow filling and creamy chocolate ganache. OMG!!!
It's a cake version of a Whoopie Pie. Instead of a dense chocolate cookie with marshmallow filling, it's a dense chocolate cake with marshmallow filling. I don't know about you, but I would pick cake over a cookie any day of the week.
After my first bite of this DIVINE cake, I decided this would have to be my birthday cake this year and I did in fact make it for myself on my birthday :) It starts out with the easiest semi-homemade cake. I use this cake recipe all the time and switch up the cake mix and pudding flavor depending on my mood. This is the perfect go-to recipe to have on hand. Then, you will make an extremely creamy and fluffy marshmallow creme filling that is spread between the two layers of cake. Top it all off with a silky smooth chocolate ganache.
This is a really rich cake, so a small slice is plenty, but that won't stop you from going back for multiple slices throughout the day :)
INGREDIENTS:
- 1 (15.25 oz.) box chocolate fudge cake mix
- 1 (3.9 oz.) box instant chocolate fudge pudding mix
- 3/4 c. water
- 3/4 c. vegetable or canola oil
- 4 large eggs
- 1 c. sour cream (or Greek yogurt)
- 1 tsp. vanillA
Marshmallow Creme Filling:
- 10 Tbl. unsalted butter, room temperature
- 1 (7 oz.) carton marshmallow creme
- pinch of salt
- 1 1/2 tsp. vanilla
- 2 c. powdered sugar
Chocolate Ganache:
- 1/2 c. chocolate chips (I used milk chocolate)
- 3 Tbl. whipping cream
Intructions:
- Preheat oven to 350 degrees. For the Cake: Grease and flour a 12-cup bundt pan; set aside. In a large bowl, combine the dry cake mix, dry pudding mix, water, oil, eggs, sour cream and vanilla. Using a hand mixer, mix until all ingredients are completely incorporated and mixture is smooth. Pour batter into the prepared bundt pan and spread out evenly. It is a very thick batter. Bake for 45 minutes or until a toothpick inserted in the center comes out clean. Remove from oven and cool in pan for 10 minutes, then invert to a wire rack and cool completely. Once cake is cool, slice in half horizontally.
- For the Marshmallow Creme Filling: In a large bowl, using a hand mixer, mix butter until smooth. Add the marshmallow creme, salt and vanilla and mix until well combined. Add one cup of powdered sugar and mix until combined. Add remaining one cup of powdered sugar and mix until smooth and creamy. Spread filling over the bottom half of the cake and place top half of cake over the creme filling.
- For the Chocolate Ganache: Place chocolate chips in a small bowl; set aside. Microwave whipping cream in a small, microwave-safe, dish until it starts to bubble. Pour hot cream over chocolate chips and allow to sit for 5 minutes. Stir together until smooth and creamy. If chocolate chips aren't completely melted. Place in the microwave and heat, stirring every 10 seconds until mixture is smooth and chocolate is melted. Allow to cool for 10 minutes or until slightly thickened and pour over cake. Store cake in the refrigerator. Bring to room temperature before serving.
0 Response to "Chocolate Whoopie Pie Cake"
Posting Komentar