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!

White Chocolate Raspberry Cake

This white chocolate raspberry cake features sweet white chocolate cake layers, a tart raspberry filling, and plenty of white chocolate buttercream.  Just try to stop at one slice!

Hey guys! Are you ready for some delicious, delicious cake? I know I am! It’s been, like, weeks (!!) since my last layer cake post and I’m going into withdrawals. Cake DTs are really unpleasant.
Do you love making layer cakes like I do? I know they can be sort of a pain what with baking the layers, filling the layers, frosting the layers. . .but nothing is quite as satisfying as slicing into a layer cake. 
Ingredients
  • Cake layers:
  • 6 ounces white chocolate finely chopped
  • 10 tablespoons unsalted butter cut into chunks
  • 1 15.25-ounce box white cake mix*
  • 1 3-ounce box instant white chocolate pudding mix
  • 1/2 cup whole milk at room temperature
  • 1/2 cup full-fat sour cream at room temperature
  • 4 large egg whites at room temperature
  • 1/2 teaspoon vanilla extract
  • 1/8 teaspoon salt
  • Filling:
  • 2 cups frozen raspberries
  • 1/4 cup granulated sugar
  • 2 tablespoons fresh lemon juice
  • 2 tablespoons cornstarch
  • Frosting:
  • 4 ounces white chocolate finely chopped
  • 1 1/2 cups unsalted butter at room temperature
  • 5 1/2 to 6 1/2 cups powdered sugar
  • 4 to 6 tablespoons whole milk or heavy cream
  • 2 teaspoons vanilla extract
  • 1/4 teaspoon salt
  • fresh raspberries for garnish

Instructions
  1. Cake layers:
  2. Preheat the oven to 350 degrees. Spray 3 8-inch round cake pans with cooking spray and line the bottoms with parchment paper. Spray the paper with cooking spray and set pans aside.
  3. Place the white chocolate and the butter in a microwave-safe bowl and heat on 50% powder in 15-second intervals, stirring after each interval, until chocolate is melted and mixture is smooth. Combine the remaining ingredients in a large mixing bowl and beat with an electric mixer set to medium for 2 minutes. Beat in the white chocolate until combined. Divide batter evenly between prepared cake pans and smooth with a rubber spatula.
  4. Bake 24 to 28 minutes, until a cake tester inserted into the center of the cake comes out clean. Cool in pans for 20 minutes, then carefully invert onto a wire rack to cool completely before filling and frosting.
  5. Filling:
  6. While cake is in the oven, combine all filling ingredients in a small saucepan set over medium heat. Bring to a simmer, stirring constantly, and simmer until mixture is very thick and clings to a wooden spoon. Scrape into a small bowl and refrigerate until cool enough to spread.
  7. Frosting:
  8. Place the chocolate in a microwave-safe bowl and heat at 50% power in 15-second intervals, stirring after each interval, until chocolate is melted and smooth. Set aside to cool for 5 minutes.
  9. Beat the butter in a stand mixer fitted with the paddle attachment until light and creamy, about 30 seconds. Turn mixer to low and beat in 5 1/2 cups of the powdered sugar, 4 tablespoons of the milk, and the vanilla and salt until combined. Add the cooled white chocolate and mix on low until incorporated. Turn mixer to medium and mix until smooth. If frosting is too thick, add additional milk; if it’s too thin, add additional powdered sugar.
  10. Assembly:
  11. If your cakes have domed, use a long serrated knife to trim off the peaks. Place one cake layer on a cake stand or cardboard cake circle. Spread half of the raspberry filling over the top of the cake (don’t go all the way to the edge). Gently spread (or pipe) a layer of frosting over the top of the filling, this time going all the way to the edge. Repeat with remaining filling and another layer of frosting. Top with remaining cake layer.
  12. Frost your cake with remaining frosting and decorate as desired. Serve.
Recipe Notes
*I used Duncan Hines

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