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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!

FROSTED CIRCUS ANIMAL COOKIE CAKE

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FROSTED CIRCUS ANIMAL COOKIE CAKE
This Frosted Circus Animal Cookie Cake is made with pink and white layers of vanilla cake, filled with a crushed up frosted animal cookie filling and covered in white chocolate buttercream! It’s so much like eating frosted animal cookies in cake form and I love it!
This Frosted Circus Animal Cookie Cake is made with pink and white layers of vanilla cake, filled with a crushed up frosted animal cookie filling and covered in white chocolate buttercream!
Author: Lindsay 
Prep Time: 2 hours
Cook Time: 35 minutes 
Total Time: 2 hours, 35 minutes, plus cooling time
Yield: 12-14 slices 
Category: American
Method: Oven 
Cuisine: Dessert

INGREDIENTS
VANILLA CAKE
  • 2 1/2 cups (325g) all purpose flour
  • 2 1/2 tsp baking powder
  • 1/2 tsp salt
  • 3/4 cup (168g) unsalted butter, room temperature
  • 1 1/2 cups (337g) sugar
  • 3 tbsp vegetable oil
  • 4 large eggs
  • 1 tsp vanilla extract
  • 1 1/4 cups (300ml) milk
  • Pink gel icing color
  • Ivory gel icing color
FROSTED ANIMAL COOKIE FILLING
  • 1/2 cup unsalted butter, room temperature
  • 2 1/2 cups (317g) frosted animal cookie crumbs
  • 1 cup (115g) powdered sugar
  • 7-8 tbsp milk or water
  • 1/4 tsp vanilla extract
  • Pinch of salt
  • 15 frosted animal cookies, crumbled
WHITE CHOCOLATE BUTTERCREAM
  • 1 1/4 cups (280g) unsalted butter, room temperature
  • 12 oz white chocolate chips, melted
  • 6 cups (690g) powdered sugar
  • Pinch of salt
  • 5-6 tbsp (60-75ml) heavy whipping cream
  • Sprinkles
PINK CHOCOLATE GANACHE
  • 6 oz white chocolate chips
  • 1/4 cup heavy whipping cream
  • Pink gel icing color
INSTRUCTIONS
  1. To make the cake layers, prepare two 8 inch cake pans with parchment paper circles in the bottom and grease the sides. Preheat oven to 350°F (176°C).Combine the flour, baking powder and salt in a medium sized bowl and set aside.
  2. Add the butter, sugar and vegetable oil to a large mixer bowl and beat together until light in color and fluffy, about 3-4 minutes. Do not skimp on the creaming time.
  3. Add the eggs and mix until completely combined and smooth. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated.
  4. Add half of the dry ingredients to the batter and mix until mostly combined.
  5. Add the vanilla extract and milk and mix until well combined. The batter will look a little curdled, but that’s ok.
  6. Add the remaining dry ingredients and mix until well combined and smooth. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated. Do not over mix the batter.
  7. Divide the batter in half. Put one half into one of the cake pans and spread evenly. Color the color half with the pink and ivory gel color, then spread evenly into the other prepared cake pan.
  8. Bake for 30-35 minutes, or until a toothpick comes out with a few crumbs.
  9. Remove the cakes from the oven and allow to cool for about 2-3 minutes, then remove to cooling racks to cool completely.
  10. When you’re ready to build the cake, make the filling. Beat the butter until smooth.
  11. Add the animal cookie crumbs and beat until well combined.
  12. Add the powdered sugar and 4 tablespoons of water or milk and beat until well combined.
  13. Add the vanilla extract, salt and additional water or milk as needed to get the right consistency.
  14. Stir in the crumbled animal cookies.
  15. To build the cake, torte the two cakes so that you end up with four layers total.
  16. Place the first pink layer of cake on a serving plate or cardboard cake circle. Spread about 3/4 cup of the filling into an even layer on top of the cake.
  17. Repeat with a layer of white cake and another layer of filling.
  18. Add the second layer of pink cake and another layer of filling.
  19. Top the cake with the second white layer of cake.
  20. If there’s some frosting sticking out from around the edges, try to smooth it out a bit, then set the cake aside.
  21. To make the white chocolate buttercream, add the butter to a large mixer bowl and beat until smooth.
  22. Add the melted white chocolate chips in a three batches, mixing until well incorporated and smooth. You want to add it in a few batches to try to ensure that it mixes well, without any lumps forming from the white chocolate.
  23. Add about half of the powdered sugar and mix until smooth.
  24. Add the salt and 3-4 tablespoons of cream, then mix until smooth.
  25. Add the remaining powdered sugar and mix until smooth.
  26. Add additional cream, as needed, until the buttercream is the right consistency.
  27. Frost the outside of the cake with the buttercream (use my tutorial for frosting a smooth cake, if you like), then press sprinkles into the sides of the cake.
  28. To make the pink ganache, add the white chocolate chips to a medium sized bowl.
  29. Add the cream to a microwave safe measuring cup and heat just until it begins to boil. Pour the cream over the white chocolate chips and whisk until smooth. If it doesn’t smooth out completely, microwave in 10 second increments, stirring between each, until the white chocolate is melted and smooth.
  30. Add the pink icing color until you reach your desired shade.
  31. Drizzle the ganache around the edge of the cake, then fill in the center.
  32. Pipe some swirls of the remaining buttercream around the top edge of the cake, then finish it off with some additional animal cookies.
Enjoy!

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