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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!

CATHEDRAL WINDOW JELLY DESSERT


My sons couldn’t get enough of this cathedral window jelly dessert. I am not surprise because I feel the same way. This dessert which consists of cubed colored gelatin embedded in creamy mold is made popular by Goldilocks Bakeshop, a popular bakery in the Philippines. Filipinos often serve this dessert during this time of the year, hence the red, green and yellow gelatin. But it does not mean you can’t have it the rest of the year. You can even make it using your favorite gelatin flavor. I used a silicone Bundt pan but you may use any jelly mold you like. Enjoy and Happy New year everyone!






CATHEDRAL WINDOW JELLY DESSERT


PREP TIME
6 hours 25 mins
TOTAL TIME
6 hours 25 mins
Serves: 8 servings

INGREDIENTS

Colored Gelatin1 (3oz/85g) box of strawberry jelly powder
1 (3oz/85g) box of lime jelly powder
1 (3oz/85g) box of lemon or mango jelly powder
1 cup boiling water per 3 oz box
⅓ cup cold water per 3 oz box
Cream Jelly½ cup pineapple juice
½ cup condensed milk
½ cup heavy cream
4 tbsp sugar
¼ tsp salt
1 ½ cups water
3 tbsp unflavoured gelatin
1 cup boiling water


INSTRUCTIONSIn three separate mixing bowls, completely dissolve the contents of each envelope of flavored jelly powder in 1 cup boiling water. Stir in ⅓ cup cold water to each. Transfer each gelatin flavor in square or rectangular containers and refrigerate until they set. Cut the flavored gelatin into cubes and arrange in your preferred jelly molds (I used a silicone bundt pan).
In a medium bowl, combine pineapple juice, condensed milk, heavy cream, sugar and salt. Stir with wire whisk until incorporated. Set aside.
In another mixing bowl, combine 1½ cup water and 3 tbsp unflavored gelatin powder. Stir until the powder completely dissolves. Allow the mixture to rest for 10 minutes.Gently add 1 cup boiling water to the gelatin mixture then continue stirring until the mixture is clear.
Pour the gelatin mixture into the milk mixture, whisking until well incorporated. Pour this gelatin-milk mixture evenly over the jelly cubes in the mold. Allow to set in the fridge for at least 4 hours or overnight.
To serve, turn the jelly dessert out onto a serving plate.
Enjoy!


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