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!

Peanut Butter & Jelly Cupcakes

Ingredients:

  • 1 and 3/4 cups (200g) cake flour1
  • 3/4 teaspoon baking powder
  • 1/4 teaspoon baking soda
  • 1/4 teaspoon salt
  • 1/2 cup (115g) unsalted butter, softened to room temperature
  • 1 cup (200g) granulated sugar
  • 3 large egg whites, at room temperature
  • 2 teaspoons pure vanilla extract2
  • optional: seeds scraped from 1/2 of a vanilla bean
  • 1/2 cup (120g) full-fat sour cream3
  • 1/2 cup (120ml) whole milk3
  • about 1/4 cup your favorite jelly (any flavor!)
Peanut Butter Frosting
  • 5 Tablespoons (75g) unsalted butter, softened to room temperature
  • 1 cup (250g) creamy peanut butter
  • 1 cup (120g) confectioners' sugar
  • 1/3 cup (80ml) heavy cream
  • 1 teaspoon vanilla extract
  • ¼ teaspoon salt
  • optional: crushed peanuts for topping
Directions:
  1. Preheat the oven to 350°F (177°C). Line a 12-cup muffin pan with cupcake liners. Line a second pan with 2 liners - this recipe makes about 14 cupcakes. Set aside.
  2. Make the cupcakes: Whisk the cake flour, baking powder, baking soda, and salt together. Set aside.
  3. Using a handheld or stand mixer fitted with a paddle attachment, beat the butter on high speed until smooth and creamy - about 1 minute. Add the sugar and beat on high speed for 2 minutes until creamed together. Scrape down the sides and up the bottom of the bowl with a rubber spatula as needed. Add the egg whites, vanilla extract, and vanilla bean (if using). Beat on medium-high speed until combined, then beat in the sour cream. Scrape down the sides and up the bottom of the bowl as needed. With the mixer on low speed, add the dry ingredients until just incorporated. With the mixer still running on low, slowly pour in the milk until combined. Do not overmix. You may need to whisk it all by hand to make sure there are no lumps at the bottom of the bowl. The batter will be slightly thick.
  4. Pour/spoon the batter into the liners - fill only 2/3 full to avoid spilling over the sides. Bake for 19-22 minutes, or until a toothpick inserted in the center comes out clean. For around 30 mini cupcakes, bake for about 11-13 minutes, same oven temperature. Allow the cupcakes to cool completely before filling and frosting.
  5. Fill the cupcakes: Using a sharp knife, cut a circle/hole into the center of the cupcake to create a little pocket about 3/4 inch deep. Place about 1 teaspoon of jelly inside and top with the piece of cupcake you removed to seal it. See photos above for visual. Repeat with all cupcakes.
  6. Make the frosting: Using a handheld or stand mixer fitted with a whisk attachment, beat the softened butter on medium speed for 1 minute until completely smooth and creamy. Add the peanut butter and beat on medium-high speed until the two are combined. Add the confectioners' sugar, cream, vanilla extract, and salt. Beat on low speed for about 20 seconds, then gradually increase to high speed. Beat on high for 1 minute. Frost the cupcakes. I used a Wilton piping tip #12 to frost.
  7. Make ahead tip: Cupcakes can be made ahead 1 day in advance, covered, and stored at room temperature. Frosting can also be made 1 day in advance, covered, and stored in the refrigerator until ready to use. Leftover cupcakes keep well covered tightly in the refrigerator for 3 days. Frosted or unfrosted cupcakes can be frozen up to 2-3 months. Thaw overnight in the refrigerator.
Recipe Notes:

If you cannot get your hands on cake flour, you can make a DIY version from all-purpose flour and cornstarch. Measure 1 cup of all-purpose flour. Remove 2 Tablespoons. Mix in 2 Tablespoons of cornstarch. This equals 1 cup of cake flour. I suggest doing this twice, mixing it all up in 1 bowl then removing 1/4 cup since you need 1 and 3/4 cups in this recipe.
For best flavor, pure vanilla extract is strongly recommended. If using imitation, increase to 1 Tablespoon (3 teaspoons).
Whole milk and sour cream are strongly recommended for the best taste and texture. A full fat plain yogurt would work instead, though the cupcakes may not be as light. Same goes with a lower fat milk. I suggest both of these ingredients are at room temperature so they mix easier into the batter.

Recipe Source:foodandcake456

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