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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!

Outrageous Cherry Dr Pepper Cake

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Outrageous Cherry Dr Pepper Cake is an incredibly flavorful cherry chocolate cake recipe with just 5 ingredients that will blow your mind!
Chocolate Cherry Dr Pepper Cake
I almost called this a chocolate dump cake, because from frosting to cake, this simple Dr Pepper cake using cake mix takes just 5 ingredients and it is perhaps the easiest and tastiest cake ever. The rich, decadent and perfectly tender cake melts in your mouth. Topped with homemade maraschino cherry frosting is it truly a flavor explosion. And it is and ready to toss in the oven in a flash.

Truly a mouthwatering dessert, now please excuse me while I take a moment to gather my thoughts.  All I can think about is this cake.  {{slurp}}

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Dr Pepper Cake Using Cake Mix
Don't cherries make you think of summer? I am not sure what the connection is but bright red cherries automatically bring my mind to summer and that is exactly what I was thinking when I picked up some Dr. Pepper Cherry.

I knew right away I wanted to make a delicious treat with Dr. Pepper Cherry. I mean really isn't that the best idea ever? I had heard about dump cakes and I decided to give it a try, but kick it up a notch.

You know, bold flavors are kinda part of who I am so I added the Dr Pepper Cherry soda and maraschino cherries to the cake mix and then made a super easy maraschino cherry buttercream to go on top. All with just 5 ingredients.  This cake is truly outrageous. Rich, moist and loaded with your favorite flavors.

Oh my word! I tell you this cake tastes just like summer.

Outrageous Cherry Dr Pepper Cake is an incredibly flavorful cherry chocolate cake recipe with just 5 ingredients that will blow your mind!

INGREDIENTS
  • 1 (15.25 ounce) box super moist chocolate fudge cake mix (dry)
  • 12 ounces Dr. Pepper Cherry (room temperature)
  • 1 (18 ounce) jar maraschino cherries, divided
  • 2 (1 cup) sticks salted butter (room temperature)
  • 7 cups powdered sugar

INSTRUCTIONS
  1. Preheat oven to 350°F. Spray a 9x13x2 baking pan with cooking spray. Set aside.
  2. In a large bowl combine cake mix and soda. Whisk until combined. Set aside.
  3. Remove 24 cherries from the jar, remove stems and cut cherries into fourths. Add cut cherries to cake batter. Whisk again until combined. 
  4. Pour batter into the prepared baking pan. Smooth with a spatula so the cake is even.
  5. Place the cake in the center of the oven and bake 30 minutes or until a toothpick comes out clean.
  6. Meanwhile: Add butter to the bowl of a stand mixer fitted with the whisk attachment (or place in a large bowl and use and hand mixer).
  7. Beat butter until light and fluffy, about 3 minutes.
  8. Add sugar 1 cup at a time until it is all incorporated (beating between each addition).
  9. Add 3 ounces (6 tablespoons) maraschino cherry juice from the jar and beat until mixture is light and fluffy.
  10. Frost the cake with all of the icing and garnish with remaining cherries.
DONNA'S NOTES:
Do not add the ingredients that the cake mix calls for. This recipe is just for the dry mix.
If icing is too thick, add more cherry juice 1 tablespoon at a time until you reach your desired consistency, beating in between each addition.
If it is too thin add powdered sugar 1 tablespoon at a time until you reach your desired consistency, beating in between each addition.


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