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!

Buttermilk Blueberry Breakfast Cake

I swear buttermilk is magic. It seems to turn everything into gold: super-moist, super-delicious gold.

This morning I awoke needing a simple, summery, cake-like-but-not-dessert-like breakfast treat. One of Ben’s friends had crashed here last night, and I thought it only appropriate to treat him to a proper breakfast. In other words, I was craving sugar and carbs. The truth is I’ve been craving sugar and carbs and a cake like this for months. But seriously, who doesn’t need a good, seasonal, berry cake recipe in their morning-treat repertoire?

Nobody. And I think I’ve found the recipe that fits the bill. On an old photocopied sheet of paper in my mother’s hand writing, I spotted a note: “Baby Boy’s Favorite.” Oh Baby Boy. Baby Boy is my younger brother, my parents’ favorite child, and one of the most satisfying people to cook for. If it was Baby Boy’s favorite cake, it would soon be mine, too. This cake is delectable! I think you’ll like it, too.


INGREDIENTS

  • ½ cup (8 tablespoons | 4 oz | 113 g ) unsalted butter, room temperature
  • zest from 1 large lemon
  • 1 cup (214 g)  sugar (set aside 1 tablespoon for sprinkling)
  • 1 egg, room temperature
  • 1 tsp. vanilla
  • 2 cups (256 g) all-purpose flour (set aside 1/4 cup of this to toss with the blueberries)
  • 2 tsp. baking powder
  • 1 tsp. kosher salt (I like 1.25 tsp)
  • 2 cups fresh blueberries, picked over
  • ½ cup buttermilk, see FAQs below


INSTRUCTIONS


  • Preheat the oven to 350ºF. Using a stand mixer or hand-held mixer, cream the butter with the lemon zest and the 1 cup minus 1 tablespoon of sugar until light and fluffy.
  • Add the egg and vanilla and beat until combined. Meanwhile, toss the blueberries with ¼ cup of flour, then whisk together the remaining flour, baking powder and salt.
  • Add half of the flour mixture to the batter, and stir with spatula to incorporate. Add all of the buttermilk. Stir. Add remaining flour, and stir until flour is absorbed. Fold in the blueberries. (Leave excess flour from the blueberry bowl behind.)
  • Grease an 8- or 9-inch square baking pan (or something similar—I prefer this 8-inch pan because I like the thicker pieces) with butter or coat with non-stick spray. If you have parchment paper on hand, line the pan with parchment on top of the butter. Spread the batter into the pan. Sprinkle the batter with the remaining tablespoon of sugar. Bake for 35 to 45 minutes — a 9-inch pan will be done in closer to 35 minutes; an 8-inch pan usually needs 40 to 45 minutes. Check with a toothpick for doneness. If necessary, return pan to oven for a couple of more minutes. (Note: Baking for as long as 10 minutes more might be necessary, especially if you’re using a smaller pan such as an 8×8-inch.) Let cool at least 15 minutes before serving.


Source: alexandracooks.com

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