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!

Carrot Cake with Cream Cheese Maple Pecan Frosting

This irresistible carrot cake is covered with a thick layer of cream cheese maple pecan frosting! Crushed pineapple makes it super moist. It’s a great layer-cake for spring, and would make a perfect dessert for Easter!
It’s done! Our new floor is officially installed!

We love it. Eric’s dad Chip did an amazing installation. If you can think of any way to repay a family member who does awesome stuff like drive across the country to install your floors for free, let me know. I’ve already baked him 2 cakes (one was this carrot cake), a batch of chocolate chip cookies, Dark Chocolate Waffles, pancakes, bought him several quarts of Gunther’s ice cream, etc. (PS if you are ever visiting Sacramento, Gunther’s is a MUST.)
Ingredients
For the cake
  •  1 cup white sugar
  •  1 cup brown sugar
  •  1 cup lightly flavored oil*
  •  1/4 cup Greek yogurt (or sour cream)
  •  2 teaspoons vanilla
  •  4 eggs
  •  8 ounces crushed pineapple, with juice

Whisk together
  •  2 cups flour, spooned and leveled
  •  2 teaspoons baking soda
  •  2 teaspoons baking powder
  •  1 teaspoon salt
  •  2 teaspoons cinnamon
  •  1/2 teaspoon nutmeg

Fold in
  •  3 cups grated carrots (I used about 5 medium.)
  •  1 cup chopped pecans, toasted (optional!)

For the frosting
  •  1 cup finely chopped pecans, toasted
  •  3/4 cup (1 and 1/2 sticks) salted butter, soft
  •  1 and 1/2 (8 ounce) packages cream cheese, soft (12 ounces total)
  •  4 and 1/2 cups powdered sugar
  •  6 tablespoons real maple syrup (I used Grade A)
  •  1 and 1/2 teaspoons maple extract
  •  1/4 teaspoon salt, or to taste
  •  more pecans, to garnish

Instructions
  1. Preheat oven to 325 degrees F. Prepare 2 9-inch cake pans: trace the bottom of each pan onto parchment paper, cut it out, and place in the bottom of the pan. Then generously spray the paper and the sides of the pans with nonstick spray.
  2. In a large bowl or stand mixer, beat together white sugar, brown sugar, oil, Greek yogurt, vanilla, 4 eggs, and pineapple. (don't drain it!)
  3. In a separate bowl, whisk together flour, (don't pack your flour! Spoon it into the measuring cup.), baking soda, baking powder, salt, cinnamon, and nutmeg.
  4. Add dry ingredients to the wet ingredients and stir until combined.
  5. Use a box grater to shred the carrots. It's annoying to do this by hand, but if you use a food processor, the shredded pieces will be too big and won't melt into the cake.
  6. If you are adding pecans to the cake, toast the chopped pecans in a small skillet for a few minutes on medium until they start to smell good and are lightly browned.
  7. Fold in the carrots and pecans.
  8. Pour the batter into the prepared pans, do your best to distribute evenly. If you have a kitchen scale you can weigh them.
  9. Bake at 325 for 38-40 minutes or until a toothpick comes out clean.
  10. Wait about 20-30 minutes, then run a knife along the edge and flip the cakes onto cooking racks. Be careful! This cake is heavy but delicate. Eat as many crumbs and scraps and you can legitimately get your hands on.
  11. Let cool completely.
  12. At this point, you can either wrap your cakes in plastic wrap and freeze so that it is super easy to frost (that's what I did) or you can frost immediately. Just be careful.
  13. FOR THE FROSTING:
  14. Chop up the pecans. You can chop them with a knife or in a food processor. Click on the photo of the frosting below the recipe to see what level of choppiness we're talking.
  15. Set a frying pan over medium heat. Add the pecans and stir occasionally until they start to smell delicious, or until they barely start to brown. Set aside to cool.
  16. In a large mixing bowl or stand mixer, cream the butter and cream cheese to within an inch of its life. Just kidding, beat it for a couple minutes until it's high and fluffy.
  17. Add half the powdered sugar and all the maple syrup. Beat well.
  18. Add the rest of the powdered sugar, maple extract, and salt. Beat well.
  19. Add the chopped pecans when they are completely cooled and beat well.
  20. Place one of the cake layers on your cake plate. Top with about 1 cup of frosting and spread. Top with the other cake. Frost the top and sides of the cake.
  21. Garnish with toasted pecans.
Recipe Notes
*I haven't tried it, but using half applesauce and half oil is pretty common for carrot cake. Try it out to cut calories!

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