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!

APPLE PIE CUPCAKES WITH VANILLA BUTTERCREAM FROSTING

APPLE PIE CUPCAKES WITH VANILLA BUTTERCREAM FROSTING
Apple Pie Cupcakes with Vanilla Buttercream Frosting are creamy, sweet and surprisingly easy! Homemade cupcakes don’t get much better than these!
APPLE PIE CUPCAKES WITH VANILLA BUTTERCREAM FROSTING
YIELD: 20 to 24 cupcakes 
PREP TIME: 15 minutes 
COOK TIME: 35 minutes
TOTAL TIME: 50 minutes

Ingredients:
FOR THE CUPCAKES:
  • 1 1/2 cups all-purpose flour
  • 1 1/2 cups cake flour, sifted
  • 1 tablespoon baking powder
  • 1/2 teaspoon salt
  • 1 1/2 tablespoons cinnamon
  • pinch of nutmeg
  • pinch of ground cloves
  • 1 cup (2 sticks) unsalted butter, at room temperature
  • 1 3/4 cups sugar
  • 4 large eggs, at room temperature
  • 2 teaspoons vanilla
  • 1 1/4 cups milk
FOR THE APPLE TOPPING:
  • 1 tablespoon unsalted butter
  • 3 cups peeled and chopped apples
  • ¼ cup sugar
  • ½ teaspoon ground cinnamon
  • ¾ cup water plus 2 tablespoons water, divided
  • 2 teaspoons cornstarch
FOR THE FROSTING:
  • 1 1/2 cups (3 sticks) unsalted butter, at room temperature
  • 4 cups confectioners’ sugar, sifted
  • 1 tablespoon vanilla extract
  • pinch of salt
FOR THE CINNAMON-SUGAR TOPPING:
  • 1 1/2 teaspoons cinnamon
  • 3 tablespoons sugar
Directions:
  1. Preheat oven to 350° F. Line standard muffin tins with paper liners and set aside.
  2. Sift together flours, baking powder, salt, cinnamon, nutmeg and ground cloves.
  3. In the bowl of an electric mixer fitted with the paddle attachment, cream the butter and sugar together on medium-high speed until pale and fluffy. Add eggs, one at a time, beating until each is incorporated, scraping down sides of bowl as needed. Add vanilla. Reduce speed to low. Add flour mixture in three batches, alternating with two additions of milk, and beating until combined after each.
  4. Divide the batter evenly between the prepared liners, filling each about ¾-full. Bake until a toothpick inserted in the center comes out clean, about 20 minutes, rotating the pans halfway through baking. Let cool in the pan about 5 to 10 minutes, then transfer to a wire rack to cool completely.
  5. While the cupcakes are baking, prepare the apple topping. To make the apple topping, heat the butter in a medium-large skillet. Stir in the apples, sugar and cinnamon. Heat until the fruit begins to release its juices. Add ¾ cup of water to the pan and bring the mixture to a low simmer. Cook until the apples are just fork tender but not mushy. In a small bowl, combine the remaining 2 tablespoons of water with the cornstarch, and whisk lightly until smooth. Add the cornstarch mixture to the apples and cook 1-2 minutes more, until the mixture has thickened. Let cool thoroughly before topping the cupcakes.
  6. To make the frosting, in the bowl of an electric mixer fitted with the paddle attachment, beat the butter on medium speed for about 5 minutes. Turn the mixer down to low speed and gradually add in the confectioners’ sugar until incorporated. Add in the vanilla and salt and mix until incorporated. Turn the mixer back up to medium-high speed and beat for an additional 4 minutes, or until light and fluffy.
  7. Whisk together the 1 1/2 teaspoons cinnamon and 3 tablespoons sugar in a small bowl. Set aside.
  8. Pipe frosting around the edge of each cupcake, leaving a well for the topping. Sprinkle with cinnamon sugar topping. Divide apple topping evenly among cupcakes. Enjoy!
Source: cupcakes adapted from Martha Stewart, frosting and topping from Spoonful of Flavor// All images and text ©Spoonful of Flavor

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