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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!

Lemon Lover's Bundt Cake

The real star of this pretty cake is the
Nordic Ware Heritage Bundt Pan.
The deep swirl pattern makes any cake spectacular!
 This recipe is from the 70's and starts with
cake mix and Jello. Note: Depending on how
  intense you want the lemon flavor, you can
either use lemon or yellow cake mix.
When I use the DH Lemon Supreme cake
 mix I sometimes don't even need the Jello.
I've done it both ways.
 Mix in oil, water and eggs.
 Beat 4 minutes.
 Pour into a prepared bundt pan
(sprayed with Baker's Secret or any baking spray)
Bake until golden; about 35-40 minutes.
 Let cool on a rack for 15-20 minutes.
 Invert onto a pretty cake stand.
The pan easily released the cake.
 Look at those deep perfect swirls!
 Perfect for catching the glaze.
I love how easy and pretty bundt cakes are.
 I bought the Rose Bundt  pan several 
years ago and now have a nice little
 collection of pretty bundts. I often find them on 
sale; it's hard to resist.
Add more glaze or dust with powdered sugar,
 or do both!
Serve a slice plain or top with fresh berries.
It's very moist, tart and sweet.
I like to make a cake for the weekend.
I like to see it's 'lets's have Kaffee und Kuchen'
look on my kitchen island.
Tip: Get info on the pan at Nordic Ware.
Search for stores with the best prices online.

Lemon Lover's Bundt Cake
1 box cake mix, lemon or yellow
1 3oz.box lemon jello
(see note above)
3/4 C water
3/4 C oil
4 L eggs

Beat all ingredients 4 minutes with a mixer. 
Spray bundt pan with baking spray.
Pour in the batter. Bake at 350 for 
35-40 minutes. Cool in pan for 20 minutes.
Invert onto cake plate and cool completely.
Dust with powdered sugar or drizzle with
glaze: 1 C powdered sugar
and 3 T lemon juice.

Enjoy!

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