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!

The Best Butterbeer Cupcakes

The Best Butterbeer Cupcakes
These Butterbeer Cupcakes truly are the best ever! Moist, fluffy butterscotch-vanilla creme cake topped with a fluffy butterscotch frosting and caramel sauce. Incredible!
Butterbeer isn’t actually beer; in fact, it’s more like a butterscotch-ish vanilla creme soda. Rich and golden, sweet and bubbly and absolutely heavenly. If you’re lucky, you’ll sometimes find butterbeer soda in stores near Halloween, but in a pinch, you can absolutely use vanilla creme soda
Whatever ya do, make yourself some because these are seriously some of the best cupcakes I’ve ever had. They’re so unapologetically buttery and fabulous.

The Best Butterbeer Cupcakes Recipe
These Butterbeer Cupcakes are seriously some of the BEST cupcakes I've EVER had. Buttery, brown sugary, vanilla-flavored and oh so fabulous, they're topped with a butterscotch & brown sugar frosting that's to-die for!

  • 1 box yellow cake mix
  • 3 eggs
  • ½ cup oil
  • 1 cup vanilla creme soda
  • ¼ cup brown sugar
  • 1 (3.4 oz) pkg dry instant butterscotch pudding mix
  • 1 stick (1/2 cup) butter, at room temperature
  • 2 Tbsp butterscotch sundae sauce
  • ¼ cup brown sugar
  • ½ tsp butter extract
  • 1 tsp vanilla extract
  • About 3 & ½ - 4 cups powdered sugar
  • ¼ cup heavy cream or milk, if needed should frosting be too thick
  • Additional butterscotch sauce or caramel sauce for drizzling
  1. Preheat oven to 350 degrees F. Line 2 muffin pans with about 18 paper liners; set aside.
  2. In a large bowl, combine the cake mix, eggs, oil, vanilla creme soda, brown sugar and dry pudding mix. Beat with an electric mixer for about 2 minutes or until combined. Portion the batter evenly among the muffin cups, filling about ¾ full.
  3. Bake the cupcakes for approx. 15-17 minutes or until a toothpick inserted near the center comes out clean or with moist, not wet, crumbs. Cool completely.
  4. In the bowl of a stand mixer, combine the butter, butterscotch sauce, brown sugar, butter and vanilla extracts with the paddle attachment until creamy, about 30 seconds. Add in the powdered sugar, one cup at a time, until frosting is light and fluffy, streaming in the heavy cream if needed (if frosting is too thick).
  5. Pipe the frosting onto the cooled cupcakes. If piping the frosting as high as in my photos, you may want to double the recipe. Drizzle with caramel or butterscotch sauce.


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