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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!

CHOCOLATE COVERED STRAWBERRY CUPCAKES

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These Chocolate Covered Strawberry Cupcakes are made with a moist chocolate cupcake, fresh strawberry frosting and delicious chocolate covered strawberries. Perfect for an occasion, like Valentine’s Day!
I can’t believe that I’m already talking about Valentine’s Day. It feels like I’ve barely moved on from Christmas and New Year’s. But alas, it’s just around the corner and I’m here to help with a fun and tasty treat.
These cupcakes are like having two delicious treats in one! Between the chocolate covered strawberries and the cupcakes themselves, I’m not sure which I’m most excited about. I’ve always been a big fan of strawberries, so it comes as no surprise to me that the chocolate covered strawberries barely made it onto the tops of the cupcakes. I intentionally made extras but between the hubs and I, we could’ve eaten them all.

And when you add them to the top of these cupcakes, they really are the perfect treat. I don’t make chocolate covered strawberries at home often, but after making these, I definitely need to. Not hard at all to make and quite quick. Not to mention that they are much less expensive than buying them already made.

INGREDIENTS:
CHOCOLATE COVERED STRAWBERRIES
  • 8 oz dark chocolate melting wafers*
  • 16 strawberries, washed and dried
  • 4 oz white chocolate melting wafers*
  • Pink/red gel icing color, optional

CHOCOLATE CUPCAKES
  • 1 cup (130g) all purpose flour
  • 1 cups (207g) sugar
  • 6 tbsp (43g) Hershey’s Special Dark Cocoa powder
  • 1 tsp baking soda
  • 1/2 tsp salt
  • 1 large egg
  • 1/2 cup (120ml) milk
  • 1/2 cup (120ml) vegetable oil
  • 3/4 tsp vanilla
  • 1/2 cup (120ml) hot water

STRAWBERRY FROSTING
  • 3/4 cup (149g) chopped strawberries
  • 1/2 cup (112g) salted butter, room temperature
  • 1/2 cup (95g) shortening
  • 4 cups (460g) powdered sugar
  • Pink/red gel icing color, optional

DIRECTIONS:
1. To make the chocolate covered strawberries, place the dark chocolate melting wafers into a small bowl and melt according to package instructions.
2. Dip each strawberry into the chocolate, shaking off the excess chocolate, then place on parchment paper to dry.
3. Place the white chocolate melting wafers into a small bowl and melt according to package instructions. 4. Add some pink or red gel icing color and stir to combine. Add a small amount at a time until you have your desired shade of pink.
5. Drizzle the pink chocolate over the chocolate covered strawberries and allow to dry. Refrigerate strawberries until ready to use.
6. To make the cupcakes, preheat oven to 300°F (148°C) and prepare a cupcake pan with liners.
7. Add the dry ingredients to a large bowl and whisk together. Set aside.
8. Combine the egg, milk, vegetable oil and vanilla in another medium sized bowl.
9. Add the wet ingredients to the dry ingredients and mix until well combined.
10. Add the water to the batter and mix until well combined. Batter will be thin.
11. Fill the cupcake liners about half way and bake for 18-23 minutes, or until a toothpick comes out with a few moist crumbs.
12. Remove the cupcakes from oven and allow to cool for 2 minutes, then remove to a cooling rack to finish cooling.
13. To make the frosting, add the chopped strawberries to a food processor and puree until smooth. Strain the strawberry puree through a fine mesh sieve. Set puree aside.
14. Beat the butter and shortening together in a large mixer bowl until well combined and smooth.
15. Add about half of the powdered sugar and mix until well combined and smooth.
16. Add 2 tablespoons of strawberry puree and mix until well combined
17. Add the remaining powdered sugar and mix until smooth.
18. Add the remaining strawberry puree as needed to get the right consistency of frosting and flavor.
19. Add pink or red gel icing color until you have your desired shade of pink frosting.
20. Pipe the frosting onto the cupcakes. I used Ateco tip 844.
21. Top each cupcake with a chocolate covered strawberry

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