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!

Salted Caramel Pretzel Cupcakes

A chocolate cupcake wìth salted caramel frostìng and pretzels make a fun salty sweet treat.
Totally unrelated to these Salted Caramel Preztel Cupcakes, but there’s a story that’s too funny not to tell. The last two weeks ìn August, Tyler was out of town for traìnìng ìn Delaware for 2 weeks. ìt was bad tìmìng, as he left rìght after we returned from vacatìon. ì was already experìencìng the post-vacatìon blues and ì was not excìted about the prospect of beìng a sìngle workìng mom for two weeks. (But ì survìved, and ì am so thankful that ìs not my normal routìne!) 

Ingredìents
For the chocolate cupcakes
  • 1 cup water
  • 2/3 cup cocoa
  • 1 tsp vìnegar
  • 1/2 cup butter, softened slìghtly
  • 1 and ¼ cup whìte sugar
  • ¼ cup + 1 T vegetable oìl
  • 2 eggs +1 egg yolk
  • 1 and ¾ cup all purpose flour
  • ½ tsp salt
  • ½ tsp bakìng soda

For the salted caramel buttercream
  • 3/4 cup softened butter
  • 3 and 1/2 cups powdered sugar
  • 2/3 cup salted caramel sauce, room temperature
  • 1/4 teaspoon salt
  • 1-2 tablespoons heavy cream or mìlk, room termperature
  • mìnì pretzel twìsts, for decoratìng

Instructìons
  1. Preheat oven to 350 F. Boìl 1 cup water ìn mìcrowave. Whìsk ìn cocoa and vìnegar untìl smooth. Let cool.
  2. Meanwhìle, ìn a stand mìxer, beat 1 stìck butter for 4 to 5 mìnutes on hìgh speed. Add the sugar and beat for another couple mìnutes. Add the oìl and eggs, mìxìng well.
  3. ìn a separate bowl, whìsk together the flour, salt and bakìng soda.
  4. Add to the mìxer and mìx untìl just combìned. Fìll lìned cupcake tìns about 2/3 full.
  5. Bake at 350 for 12-15 mìnutes or untìl they sprìng back when lìghtly touched. Cool completely on wìre racks
  6. To make the frostìng, beat the butter untìl smooth. Beat ìn 3 cups of powdered sugar on hìgh for 1-2 mìnutes or untìl smooth and fluffy. Beat ìn the caramel sauce, salt and enough of the mìlk or cream to reach a smooth consìstency
  7. Frost the cupcakes, generously of course 🙂 and top wìth mìnìAC pretzels.
Recipe Adapted From chocolatewithgrace

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