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!

Paleo Molten Lava Cake Recipe





Tender chocolate cakes with gooey, rich centers, these paleo molten lava cakes come together quickly and easily, making them one of our favorite paleo dessert recipes.


Ingredients

1/3 cup refined coconut oil
1/2 cup vegan chocolate chips like Enjoy Life
2 eggs
1 egg yolk
1/4 cup coconut sugar
1/2 tsp vanilla extract
pinch of salt
1 tablespoon tapioca starch
3 tablespoons almond flour
coconut milk ice cream for serving

Equipment Needed
6-ounce ramekins

Instructions

Preheat the oven to 450°. Grease two 6-ounce ramekins with coconut oil. Place the ramekins on a baking sheet.
Place coconut oil and chocolate chips in a microwave-safe bowl. Microwave 60 seconds then stir well. Continue microwaving in 30-second bursts, stirring very well in between, until chocolate is completely melted and smooth. In a medium bowl, whisk the eggs with the egg yolks, coconut sugar and salt well.
Fold the chocolate mixture it into the egg-sugar mixture, then stir in the tapioca starch and almond flour. Spoon the batter evenly into the prepared ramekins and bake for 12 minutes, or until the sides of the paleo molten lava cake are firm but centers are still very soft. Remove form oven and let cakes cool in the ramekins for 1 minute. Run a very thin steak or paring knife around the edge of each cake. Cover each with an upside-down dessert plate then carefully turn each one over. Let stand for 10 seconds then unmold. Serve immediately with plenty of vanilla ice cream.

Recipe Notes

To make these ahead, prepare cakes up until baking then chill. 30 minutes before baking, remove from refrigerator and let stand at room temperature.

Alternately, bake cakes immediately out of refrigerator, adding about 1-2 minutes to baking time. Monitor closely so as not to under- or over-bake.

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