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!

Classic Vanilla Coconut Flour Cake (Paleo & Keto)

This classic vanilla coconut flour cake is light, fluffy and delicately sweet. Its paleo, keto and the perfect healthy dessert for any occasion including birthdays, holidays and more!

Ingredients
For the Cake:
  • 4 large pastured eggs separated
  • 1 tsp cream of tartar
  • 1/4 cup coconut oil
  • 3 tbsp granulated swerve or monk fruit sweetener (or honey for paleo)
  • 1/4 cup coconut flour sifted
  • 2 tsp vanilla extract
  • 1/4 tsp baking soda
  • 1/8 tsp sea salt

For the Paleo Swiss Meringue Icing:
  • 4 large pastured raw egg whites
  • 1/4 cup honey
  • 1 tsp cream of tartar
  • 1 tsp vanilla extract

For Keto Buttercream Frosting:
  • 1/2 cup unsalted butter
  • 1 cup powdered confectioners sweetener (swerve or monk fruit)
  • 1 tsp vanilla extract
  • 2 tbsp coconut cream or heavy cream


Instructions
Cake Instructions:
  1. Preheat oven to 350°F. In a large bowl combine the egg whites and cream of tartar. Whip until stiff peaks form. Set aside. 
  2. In a separate bowl, cream together honey and coconut oil with the electric mixer then add in the egg yolks and mix for the paleo version. For keto version, just lightly whip the coconut oil with the mixer, then add in the egg yolks and whip together until combined. 
  3. Add in coconut flour, vanilla, baking soda and salt. Mix until combined. 
  4. Fold the egg whites into the batter starting with a little bit at a time. Combine until the batter is completely mixed. Do not use a food processor or a hand blender to combine as it can affect the texture. If there are lumps after folding in the egg whites, you can use the electric mixer on the lowest setting for a few seconds to remove the lumps. It's ok if there are a few small lumps. It’s better if the mixture is a bit rough and not too smooth.
  5. Line a 6-inch mini cake pan with parchment paper or oil the pan with additional coconut oil. Pour the mixture into the cake pan. Bake for about 20 minutes. The cake is done when a toothpick is inserted and comes out clean.


Paleo Swiss Meringue Icing Instructions:
  1. Using a double boiler, fill a pot with about 2 inches of water and bring to a boil. In the bowl part of the double boiler, mix all of the ingredients.
  2. Place the bowl over the pot with the heated water. Using a handheld blender, whisk the egg whites continuously until they are warm to the touch. This takes a few minutes. Your egg whites should be light & puffy.
  3. Immediately use as an icing. Even though the egg whites have been warmed they are still considered raw and should not be consumed by pregnant women, children and the elderly. If you are concerned about the egg whites being undercooked, ice the outside of the cake with the meringue and then place them under the broiler and lightly toast them. You can also use pasteurized eggs to make this icing, which means they have been lightly heated to kill bacteria, but are still uncooked.


Keto Buttercream Frosting Instructions:
  1. Put softened room temperature butter in a bowl. Whip with an electric mixer.
  2. Add in the confectioners sweetener gradually a little bit at a time while whipping with the electric mixer until all of the sweetener is mixed in.
  3. Add in the vanilla extract and coconut cream (or heavy cream) and blend with the mixer until smooth. 
  4. Wait for the cake to cool before icing. To make a layer cake, cut the cake in half lengthwise then put frosting in the middle and stack the layers. Then frost the whole outside of the cake. To smooth the frosting, dip a knife in hot water then run it over the frosting until smooth. 
  5. Don't forget to check out Indulge: 70 Grain-Free Desserts to get even more delicious grain-free dessert recipes like this one and use discount code HANNAH50 for 50% Off. 


Recipe Notes
  • This coconut flour cake recipe will make a 6-inch mini layer cake (this is the pan I used). If you prefer to make a regular sized cake with an 8 or 9-inch cake pan, you will need to double the recipe for it to fit.
  • The fluffed egg whites are critical to the success of this cake since they are responsible for the light, fluffy texture while helping the coconut flour to hold together. The recipe will not work properly with any egg substitutions.   
  • The cream of tartar helps to keep the egg whites fluffy and stiff which helps the texture of the cake. If you don't have cream of tartar, the recipe will still work but you may not have quiet as fluffy of a cake. Just be sure you have fresh egg whites and beat them in a glass or metal bowl (not plastic) and be sure there is no residue from any oils in the bowl.
  • When you add the egg whites to the dough mixture, gently fold it in. Do not use a food processor or a hand blender to combine as it can affect the texture. If there are lumps after folding in the egg whites, you can use the electric mixer on the lowest setting for a few seconds to remove the lumps. It's ok if there are a few small lumps. It’s better if the mixture is a bit rough and not too smooth.
  • If you prefer to make the buttercream frosting with a paleo sweetener, you can use homemade powdered coconut sugar. Just grind regular coconut sugar in a coffee grinder to turn it into a fine powder, then use that in place of the powdered swerve. Just keep in mind that your frosting won't be white this way. It will be more of a brownish tan color.
  • Nutrition Facts below are for one serving of keto coconut flour cake using swerve sweeteners. Subtract 28 grams of sugar alcohols per serving to achieve net carbs. There are 2 grams net carbs per slice of cake.

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