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!

MINT CHOCOLATE CHIP CUPCAKES

These Mint Chocolate Chip Cupcakes are made with a moist chocolate cupcake, mint frosting and mini chocolate chips! A classic flavor combination in cupcake form!
The final cupcake has the classic mint and chocolate chip flavor that I love so much. It just about melts in your mouth, with the exception of the lovely crunch of the mini chocolate chips. We loved them in our house and I hope you’ll love them in yours too!

INGREDIENTS:
CHOCOLATE CUPCAKES
  • 3/4 cup + 2 tbsp (114g) all purpose flour
  • 6 tbsp (43g) natural unsweetened cocoa
  • 1/2 tsp baking soda
  • 1/4 tsp salt
  • 6 tbsp (84g) unsalted butter, room temperature
  • 3/4 cups (155g) sugar
  • 1 1/2 tbsp vegetable oil
  • 3/4 tsp vanilla extract
  • 2 large eggs
  • 1/2 cup + 2 tbsp (150ml) milk

MINT FROSTING
  • 1/2 cup salted butter
  • 1/2 cup shortening
  • 4 cups (460g) powdered sugar
  • 2 tsp mint extract
  • 1 tsp vanilla extract
  • 2-3 tbsp water or milk
  • Green gel icing color
  • Mini chocolate chips

DIRECTIONS:
1. Preheat the oven to 350°F (176°C) and prepare a cupcake pan with cupcake liners.
2. To make the cupcakes, combine the flour, cocoa, baking soda and salt in a medium sized bowl and set aside.
3. Add the butter, sugar, oil and vanilla extract to and large mixer bowl and beat together until light in color and fluffy, about 3-4 minutes. Do not skimp on the creaming time.
4. Add the eggs one at a time, mixing until mostly combined after each. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated.
5. Add half of the dry ingredients to the batter and mix until mostly combined.
6. Slowly add the milk and mix until well combined. The batter will look curdled, but that’s ok.
7. Add the remaining dry ingredients and mix until well combined and smooth. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated. Do not over mix the batter.
8. Fill the cupcake liners about three quarters full. Bake for 16-18 minutes, or until a toothpick inserted comes out with a few crumbs.
8. Remove cupcakes from oven and allow to cool for 2-3 minutes, then remove to cooling rack to finish cooling.
9. To make the frosting, combine the butter and shortening in a large mixer bowl and mix until smooth.
10. Add 2 cups of powdered sugar and mix until smooth.
11. Add the vanilla and mint extracts and 1 tablespoon of water or milk and mix until smooth.
12. Add remaining powdered sugar and mix until smooth.
13. Add remaining water or milk as needed and mix until smooth.
14. Pipe the frosting onto the cupcakes. I used a large round tip to pipe frosting evenly on to the top, then smoothed the top and sides with an offset spatula.
15. Add mini chocolate chips to a small bowl (or hold some in your hand) and dip the sides of the frosting into the chips so that they stick.

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