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!

CREAM CHEESE STUFFED CARROT CAKE WITH ORANGE GLAZE

Super moist, spiced Carrot Cake stuffed with sweet cream cheese filling and drizzled with sweet and tangy Orange Cream Cheese Glaze that will have you drinking it straight from the bowl.
So I really love you guys.  I made this cake 3 times this week (not counting the time I forgot the flour – its been that kind of week), to create the perfect carrot cake that’s super moist without being oily, spiced to perfection with hints of orange, and with a surprise sweet cream cheese fill.

INGREDIENTS
  • 2 1/2 cups peeled and grated carrots
Dry Ingredients
  • 2 cups all-purpose flour
  • 1 1/2 cups granulated sugar
  • 1/2 cup light brown sugar, packed
  • 1 cup pecans, finely chopped (I use my food processor)
  • 2 teaspoons baking soda
  • 1 teaspoon baking powder
  • 1/2 teaspoon salt
  • 1 tablespoon + 1 teaspoon ground cinnamon
  • 1/2 teaspoon allspice
  • 1/4 teaspoon ground nutmeg
Wet ingredients
  • 4 large eggs
  • 3/4 cup Vegetable oil
  • 1/2 cup vanilla Greek yogurt (regular or lowfat)
  • 1 teaspoon vanilla extract
  • 2 teaspoons orange extract
Cream Cheese Filling
  • 8 oz full fat cream cheese, softened
  • 1/2 cup granulated sugar
  • 1 large egg
  • 1 teaspoon lemon juice
  • 1/2 teaspoon vanilla extract
  • 3 tablespoons all-purpose flour
Orange Cream Cheese Glaze
  • 4 oz cream cheese, softened
  • 2 tablespoons butter, softened
  • 2 tablespoons orange juice
  • 2 teaspoons lemon juice
  • 1 teaspoon orange extract
  • 1/2 teaspoon vanilla extract
  • 2 cups powdered sugar, sifted
Optional Decorative Garnishes
  • roasted pecans, roughly chopped
  • orange zest

INSTRUCTIONS

  1. Preheat the oven to 350F degrees. Butter and flour a 10” bundt cake pan (or use nonstick-spray with flour in it). Set aside.**
  2. To make the Cream Cheese Filling, beat the cream cheese and sugar until light and creamy. Beat in remaining Filling Ingredients until smooth. Set Aside.
  3. In a large bowl, mix all of the Dry Ingredients together. In a separate bowl, gently whisk eggs then stir in remaining Wet Ingredients just until combined. Don't overmix.
  4. Stir Wet Ingredients into Dry Ingredients just until moistened, then stir in 2 1/2 cups grated carrots until evenly combined (I use my clean hands to stir in the carrots).
  5. Spoon 3 cups batter into prepared bundt cake pan. Spoon Cream Cheese Filling over batter and gently smooth, but do not touch the sides of the pan. Top with remaining batter.
  6. Bake at 350F degrees for 45 minutes, cover with foil then reduce heat to 325 and bake an additional 25-30 minutes or until toothpick inserted near the center comes out clean. Cool in the pan for 10 minutes then transfer to a cooling rack to cool completely.
  7. To make the Orange Cream Cheese Glaze, using an electric mixer, cream together all of the Glaze ingredients EXCEPT the powdered sugar on medium speed for 1-2 minutes or until completely smooth. Add sifted powdered sugar and beat until very smooth, scraping down sides as needed. Place the frosting in the refrigerator for 5 to 10 minutes before using.
  8. When cake has cooled, drizzle Glaze over cake or individual servings, whisking in additional orange juice/milk if Glaze has become too thick upon standing.
  9. Store in the refrigerator for up to 7 days.
RECIPE NOTES
*To easily shred carrots, use the grater on your food processor. If you don't have the grater blade, you can also finely chop in your food processor.
**When "flouring" my pan, I use cocoa powder instead of flour because the cake is brown.
***Your cream cheese layer may not be as thick as the picture all the way around - I chose the thickest slice 🙂

Recipe Source:carlsbadcravings.com

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