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!

WHITE CHOCOLATE & RASPBERRY CHEESECAKE FOR TWO

If you are looking for a special dessert for two, this is it. This recipe has several steps, but they are all very easy and the final product is totally delicious. What a way to top off a romantic meal!!

Preheat your oven to 325 and line a mini-loaf pan (6" x 3" x 2") with foil. The foil will help you lift the baked cheesecake out of the pan after it is chilled, so make the foil ends long enough to grab on to. Spray with vegetable spray and set aside.

Make the raspberry sauce: In a sauce pan, heat up 1 cup of raspberries (I used frozen) and ¼ cup of white sugar. Bring to a simmer and mash the berries as they cook. When berries are all soft, thicken with a slurry of 1 tablespoon corn starch mixed with 1 tablespoon water. Stir until berries are nice a thick. Press through fine mesh strainer. Set aside.

Make crust: Mix ½ cup graham cracker crumbs, 1 tablespoon white sugar and 1 tablespoon melted butter. When thoroughly mixed together, press into the bottom of the foil lined mini-loaf pan. Set aside.

Make filling: Melt ¼ cup of white chocolate chips with 1 tablespoon cream and set aside. In a bowl, with an electric mixer, cream 3 ounces of room temperature cream cheese and 2 tablespoons sugar. When thoroughly creamed, add 1 egg white, ½ teaspoon vanilla and 2 teaspoons all purpose flour (don't over beat). Stir in melted white chocolate chips.

Pour half of the batter onto the crumb crust and top with half of the berry mixture. Top with the second half of the batter then decorate the top with the rest of the berry mixture. *see note

Water bath: Place the mini-loaf pan (with cheesecake in it) inside of a larger pan (I used a 9" cake pan) and pour very hot water into the larger pan, making sure that the hot water comes half way up on the sides of the mini-loaf pan.

Bake in a 325 oven for 28 to 33 minutes (my oven takes 33 minutes). The cheesecake is done when you gently tap the side of the pan and the cheesecake sort of jiggles (kind of like jello).

Cool for 30 minutes in the pan, then chill for at least 3 hours. To serve, lift the cheesecake out of the mini-loaf pan (using the foil "handles") then cut it into two pieces.

NOTE: You don't have to strain the seeds out of the raspberries if you don't want to. To decorate the top of the cheesecake, I spooned small amounts of the berrys in a random pattern, then ran the tip of a toothpick through the berries to make a design.


more recipe @ coleensrecipes.blogspot.com

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