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!

Brown Sugar Yellow Cake with Chocolate Frosting

The BEST moist yellow cake recipe I’ve ever had, probably because there is one unusual ingredient: brown sugar. It makes the cake less traditional but a lot more MOIST. (Hallelujah!) I’m in love with this brown sugar yellow cake and the ridiculous amount of chocolate frosting that goes with it. 

So as a food blogger, I get a lot of questions from people making my recipes. Most of them are just your average clarification on the recipe, but sometimes you get a question that makes you scratch your head. Recently someone asked if they could make The Best Chocolate Cake I’ve Ever Had…without chocolate. “I want a yellow cake. Can I make this without the chocolate?” Ummm…


The BEST yellow cake recipe I've ever had, probably because there is one unusual ingredient: brown sugar. It makes the cake less traditional but a lot more MOIST. (Hallelujah!) I'm in love with this brown sugar cake and the ridiculous amount of chocolate frosting that goes with it. 
Ingredients
  • For the cake
  •  1 cup (2 sticks) salted butter)
  •  1 cup water
  •  1 cup white sugar
  •  2 cups sifted all-purpose flour, spooned & leveled
  •  1 teaspoon kosher salt
  •  2 eggs, lightly beaten
  •  1 teaspoon baking soda
  •  1/2 teaspoon baking powder
  •  1 tablespoon vanilla bean paste*
  •  1 cup brown sugar (I like dark brown)
  •  1/2 cup sour cream
  • For the frosting
  •  1 and 1/2 cups (3 sticks) salted butter, softened
  •  3/4 cup unsweetened cocoa powder, sifted
  •  4-5 cups powdered sugar
  •  3/4 teaspoon kosher salt
  •  2 teaspoons vanilla bean paste
  •  3/4 cup heavy cream

Instructions
  1. For the cake:
  2. Preheat oven to 325 degrees F. Grease 2  9-inch cake pans with butter or nonstick spray, then coat with a small amount of flour, tapping out the excess over your sink. Then trace the bottom of the cake pans onto parchment paper, cut out the circles, and put them in the bottom of the pan.
  3. In a medium saucepan, melt 1 cup butter over medium heat. Stir in the water and whisk until combined. Bring to a boil over medium heat and boil for about 30 seconds. Remove pot from heat and let sit aside to cool.
  4. Meanwhile, in a large bowl, whisk together the white sugar, flour, and 3/4 teaspoon salt.
  5. In another medium bowl, whisk together 2 eggs. Slowly sprinkle baking soda and baking powder over the top while you whisk. Beat until there are no lumps. The mixture may foam, and that's ok!
  6. Stir in 1 tablespoon of vanilla bean paste and 1 cup brown sugar.
  7. When the butter mixture in the pot has cooled enough to handle, stir it into the flour mixture. Then add the egg mixture. Each time mix only until combined.
  8. Lastly, fold in the sour cream. DON'T over mix!!
  9. Divide the batter evenly between the 2 prepared pans (I use a scale to make sure they were even). Drop the cakes on the counter from a few inches above to get out some of the air bubbles.
  10. Bake at 325 for about 34-40 minutes, rotating the pans halfway through. Remove from the oven when a toothpick comes out of the center clean.
  11. Let cakes cool in the pans for 10 minutes, then carefully loosen edges with a knife and invert onto a cooling wrack. Let cakes cool completely.
  12. Wrap the cakes securely in plastic wrap and freeze for about an hour or 2. (This is only so that it's easy to frost the cake. If you are in a hurry and presentation isn't an issue, frost as soon as they are cool!)
  13. For frosting and assembly:
  14. In a large bowl or stand mixer, use the whisk attachment to cream the butter for 2 minutes, scraping the sides and bottom of the bowl. Add the cocoa and 4 cups of powdered sugar in increments, adding the cream in between. Beat well after each addition, scraping the sides of the bowl often.
  15. Add the salt and vanilla bean paste. Beat well.
  16. Add the 5th cup of powdered sugar if you like. Frosting consistency is kind of a personal preference, and sometimes it depends on my mood!
  17. Smear a bit of frosting on the bottom of a cake plate. Place 1 cake on top, then cover the top with about 1 cup of frosting (I like to use an offset spatula).
  18. Place the other cake on top, then frost the outside and edges. If you don't want your cake plate to get frosting all over it, line the bottom cake with strips of parchment paper that you can pull out when the cake is completely frosted.
Recipe Notes
*You can use regular vanilla extract in place of the vanilla bean paste. It will still taste great! 

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