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!

STRAWBERRY SHORTCAKE TRIFLE

STRAWBERRY SHORTCAKE TRIFLE

This Strawberry Shortcake Trifle is simple to make with layers of moist vanilla cake, fresh strawberries, strawberry sauce and fresh whipped cream!


Author: Life, Love and Sugar
Prep Time: 1 hour
Cook Time: 45 minutes
Total Time: 1 hr 45 min, plus cooling time
Yield: 10-12 servings 1x
Category: Dessert
Method: Oven
Cuisine: American

INGREDIENTS
VANILLA CAKE
  • 3 cups (390g) all purpose flour
  • 1/4 tsp baking soda
  • 2 3/4 tsp baking powder
  • 1 tsp salt
  • 1 1/2 cups (336g) unsalted butter, room temp
  • 2 cups (414g) sugar
  • 4 egg whites
  • 3 tsp vanilla extract
  • 1 1/2 cups (360ml) milk
STRAWBERRY SAUCE
  • 1 lb strawberries, pureed
  • 1/2 cup (104g) sugar
  • 3/4 tsp vanilla extract
WHIPPED CREAM
  • 2 3/4 cups (660ml) heavy whipping cream, cold
  • 1 1/2 cup (173g) powdered sugar
  • 1 tbsp vanilla extract
  • 2 lbs strawberries, chopped (about 5 cups)
INSTRUCTIONS
  1. Preheat the oven to 350°F (176°C). Grease a 9×13 cake pan.
  2. Combine the flour, baking soda, baking powder and salt in a medium sized bowl. Set aside.
  3. Beat the butter and sugar in a large bowl on medium speed about 2 minutes, until light and fluffy. Scrape down the sides of the bowl.
  4. Add the egg whites and vanilla and beat on medium speed until well combined and smooth.
  5. Add about a third of the flour mixture to the batter and beat on medium speed until incorporated.
  6. Add about half of the milk and beat on medium speed until incorporated.
  7. Add another third of the flour mixture and beat until incorporated, scraping down the sides of the bowl as needed.
  8. Add the remaining milk and beat on medium speed until incorporated.
  9. Add the remaining flour mixture and beat until well combined, scraping down the sides of the bowl as needed.
  10. Bake the cake for 35-40 minutes, or until a toothpick inserted in the center comes out clean. The cake will be browned on top.
  11. When the cake is done, set aside to cool.
  12. To make the strawberry sauce, add the strawberry puree, sugar and vanilla extract to a medium saucepan. Cook over medium heat until it begins to boil, stirring occasionally.
  13. Allow sauce to boil for one minutes, then remove from heat and seat aside to cool.
  14. When everything has cooled, make the whipped cream. Add the heavy whipping cream, powdered sugar and vanilla extract to a large mixer bowl and whip on high speed until stiff peaks form.
  15. To layer everything in the trifle dish, add a layer of cake on the bottom, then about half of the chopped strawberries, about half of the strawberry sauce, then about half of the whipped cream.
  16. Add a second layer of cake, strawberries and strawberry sauce, then pipe the remaining whipped cream on top in swirls. Add a few additional strawberries on top as decoration.
NOTES
Note: You may not need to use all of the cake for the trifle.

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