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!

Churro Cupcakes with Cinnamon Cream Cheese Frosting

Churro Cupcakes with Cinnamon Cream Cheese Frosting
My kids had friends over for a taco dinner the other night, and we “needed” a special dessert. These churro cupcakes were perfect for our theme!
Churro Cupcakes with Cinnamon Cream Cheese Frosting
Yield: Makes 24 cupcakes

Ingredients:
For the Cupcake Batter:
  • 1½ cups all-purpose flour
  • 1½ cups cake flour
  • 1 T baking powder
  • ½ tsp coarse salt
  • 1½ T ground cinnamon
  • 1 cup (2 sticks) unsalted butter, at room temperature
  • 1¾ granulated sugar, plus 2 T for dusting
  • 4 large eggs, at room temperature
  • 2½ tsp vanilla extract
  • 1¼ cups milk (I used 1 percent)
For the Cinnamon-Sugar Topping:
  • 4 T unsalted butter, melted
  • ½ cup sugar
  • 1½ tsp ground cinnamon
For the Cinnamon Cream Cheese Frosting:
  • ½ cup (1 stick) unsalted butter, at room temperature
  • 8 oz. (1 brick) cream cheese, at room temperature
  • 1 tsp vanilla extract
  • 1½ tsp ground cinnamon
  • 3 cups confectioners’ sugar
  • 1 tsp milk, if needed to thin consistency
Instruction:
  1. Preheat oven to 350 degrees, preferably on convection. Line 2 muffin pans with liners. Set aside.
  2. In a medium bowl, whisk together both flours, baking powder, salt and cinnamon.
  3. Using a stand mixer with the paddle attachment, cream butter and sugar on medium-high speed until light and fluffy, about 3 minutes.
  4. Add eggs, one at a time, beating until each is incorporated. Scrape down the sides of the bowl as needed. Beat in vanilla extract.
  5. Reduce speed to low, then add flour mixture in three batches, alternating with two additions of milk, and beating until just combined after each.
  6. Fill each cupcake liner three-quarters full. Bake 17-20 minutes, or until cupcakes bounce back at the touch of a finger.
  7. Remove cupcakes from oven and place cupcakes on wire racks to cool.
  8. Meanwhile, make the cinnamon-sugar topping: Place the butter in a small bowl and microwave for 30 seconds, or until melted.
  9. In another small bowl, combine the sugar and cinnamon.
  10. When the cupcakes are completely cooled, brush melted butter on the tops and dip into the cinnamon sugar mixture, making sure to entirely coat the top of the cupcake.
  11. Make the frosting: Using a stand mixer with the paddle attachment, beat butter and cream cheese until light and fluffy, about 2-3 minutes. Add vanilla and cinnamon.
  12. Add confectioners’ sugar, one cup at a time, until incorporated and desired consistency is reached. If the frosting is too thick, add a teaspoon or so of milk to thin.
  13. Using a pastry bag with a fluted tip, frost cupcakes. Be careful not to coat the outer edge of the cupcakes so that the cinnamon sugar can shine through.
  14. Refrigerate until ready to serve.
recipe source: 

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