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 Drizzle Cake



Lemon Drizzle Cake
This is a very simple cake to make but is also one of the most irresistible – if I was you I would make two!

Serves 10 slices 
Prep time: 15 minutes
Cooking time: 45-50 minutes

Ingredients
225g unsalted butter, softened
225g caster sugar
4 eggs
2 lemons, finely grated zest
225g self raising flour

The topping
1 ½ lemon, the juice
85g Caster Sugar

Method

1.    Preheat oven to 180°C/fan 160°C/gas mark 4.
2.    Mix together the butter and sugar until pale and creamy, then add the eggs one at a time. Slowly mixing altogether and then sift in the flour and add the lemon zest and mix until well combined.
3.    Line a loaf tin (8 x 21cm) with greaseproof paper, then spoon in the mixture and level with a spoon.
4.    Place in the preheated oven for 45-50 mins until a thin skewer inserted into the centre of the cake comes out clean. Whilst the cake is cooling in its tin, mix together the lemon juice and sugar to make the drizzle. Prick the warm cake all over with a skewer or fork, then pour over the drizzle - the juice will sink in and the sugar will form a lovely, crisp topping.
5.    Leave in the tin until completely cool, then remove and serve.

Cooks Tips
·         Will keep in an airtight container for 3-4 days, or freeze for up to 1 month.
·         Give the cake a summery flavour by serving with tangy crème fraiche and summer berries such as blueberries, raspberries and blackcurrants.

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