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!

Very Chocolatey, Chocolate Fudge Cake



Very Chocolatey, Chocolate Fudge Cake
This cake is a chocoholics dream!  This cake has chocolate, chocolate and more chocolate to create this fantastically fudgey, rich & moist cake.

Makes 12 slices
Preparation time:  30 minutes
Cooking time:  50 minutes


Ingredients

For the cake
220g plain chocolate, chopped (minimum 70% cocoa solids)
200g butter, cubed (plus extra for greasing)
100ml water
125g self raising flour
125g plain flour
25g cocoa powder
200g light muscovado sugar
200g golden cater sugar
3 free-range eggs
75ml crème fraiche

For the chocolate buttercream filling
50g plain chocolate (minimum 70% cocoa solids)
100g unsalted butter, softened
200g icing sugar
1 tsp vanilla extract
Drizzle of milk to loosen

For the chocolate ganache topping
150ml double cream
1 tsp vanilla extract
1 tsp unsalted butter
150g plain chocolate, plus extra to decorate

Preparation method
1.    Preheat the oven to 170ºC/335ºF/Gas Mark 3 and line two 20cm sandwich tins with baking parchment,
2.    In a saucepan melt together the chocolate, butter and water on a low heat, stir occasionally until smooth and then set aside to cool slightly.
3.    In a large bowl sift the flours and cocoa powder and mix in the muscovado and caster sugar.  In a separate large bowl beat together the eggs and crème fraiche, then add the chocolate to the mixture.  Now gently fold through the flour & sugar mixture until smooth.
4.    Divide the cake mixture between the two cake tins and bake in the oven for 35-40 minutes, or until the top is firm to the touch.
5.    Remove the cake tins from the oven and set aside until they have cooled completely.
6.    For the chocolate buttercream filling, melt the chocolate in a bowl over a pan of simmering water.  (Make sure that the bowl does not touch the water).
7.    In a separate bowl beat the butter until soft and then gradually beat in the icing sugar.  Now add the vanilla extract and fold in the melted chocolate until smooth (add a drizzle of milk if the mixture is too stiff).
8.    For the chocolate ganache topping, heat the cream, vanilla extract, butter and chocolate in a large pan.  Remove the pan from the heat and then whisk until the mixture is smooth and thick.
9.    To assemble the cake, carefully remove the cakes from the tins.  On the top of one of the cakes spread the buttercream and then top with the other cake.
10.  Spoon the chocolate ganache over the top of the cake and allow to drizzle over the edges or smooth over the whole cake with a palette knife.  Garnish with chocolate of your choice, enjoy!!

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