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!

SIX MINI CHEESECAKES

As empty nesters, we are easily overloaded by a full size cheesecake, so I have been experimenting. I finally got it down to six cupcake size cheesecakes which suits us perfectly.

These little guys ALWAYS turn out perfect.....no cracks, no sink hole in the center and they are smooth, rich and addicting!!




Place six foil (or paper) cupcake liners in a cupcake pan. Preheat your oven to 325°.

CRUST
1/3  cup graham cracker crumbs
2    teaspoons sugar
2    teaspoons melted butter

Mix together and split evenly between the six cupcake liners, and press the crumbs into a flat layer.

FILLING
8 ounces of full fat cream cheese (room temperature)
6 tablespoons sugar
1 teaspoon vanilla extract
4 teaspoons flour
2 large egg whites

Beat the room temperature cream cheese with electric mixer for three minutes. Add the sugar and beat for another two minutes.

Add the vanilla, flour and egg whites and mix until well incorporated, but don't over mix.

Pour the batter over the crumb crust, filling almost to the top (I use an ice cream scoop).

Bake at 325° for 25 minutes (the cheesecake should be just "set" and barely giggle when you tap lightly on the side of the cupcake pan.

Remove from the oven and let sit at room temperature about 20 minutes, then put in the fridge and chill for at least a couple of hours.

Before serving, I like to add a swirl of raspberry jam on the surface of the COLD cheesecake (any jam will work, see note below).

ENJOY !!!
Note:  I like to use the foil cupcake liners because they release the cheesecake so easily, but paper ones work great as well.
Note: Any jam or spreadable fruit works well in this recipe. To make the jam super spreadable, I just put a couple of heaping tablespoons into a small bowl and stir it vigorously until it is smooth and soft.

Note: I never seem to remember to bring the cream cheese up to room temperature, so I just put it in the microwave for 10-15 seconds (to take the chill off) and it works fine.

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