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 New York Cheesecake


The BEST New York Cheesecake
This is not a classic New York Cheesecake but it is certainly the best. It is rich and creamy with a splash of white wine that makes this unique!
Makes 12 slices
Preparation time:  15 minutes
Cooking time:  35 minutes (plus cooling & chilling time)

Ingredients
For the base:
85g butter (plus extra for greasing the tin)
10 digestive biscuits, made into fine crumbs
1 tbsp golden caster sugar

For the cheesecake filling:
(have all ingredients at room temperature)
3x300g packs of full-fat soft cheese
250g golden caster sugar
Pinch of salt
3 tbsp plain flour
1 ½ tsp vanilla extract
2 tbsp white wine
3 eggs, plus 1 yolk
200ml soured cream

For the topping:
200ml soured cream
1 tbsp golden caster sugar
2 tbsp white wine


Preparation method
1.    Preheat the oven to 180ÂșC/160°C Fan/Gas Mark 4 and line the base of a 23cm springform cake tin with parchment paper.
2.    For the base, melt the butter in a saucepan and stir in the biscuit crumbs and sugar.  Press the mixture into the base of the tin and place it in the oven for 10 minutes.  Remove from the oven and increase the temperature to 240°C/220°C Fan/Gas mark 9 and place the tin on a wire rack to cool whilst you prepare the filling.
3.    For the filling, beat the soft cheese in a food mixer using the paddle attachment on a medium setting until creamy, this should take around 2 minutes.  Put the mixer on low and gradually add the sugar, flour and a pinch of salt.
4.    Using the whisk attachment continue to mix on low adding the vanilla extract and white wine.  Now gradually add the eggs and egg yolk.  Add the soured cream and continue to mix until the filling is smooth, light and airy.
5.    Grease the sides of the tin with butter and pour in the filling, bake for 10 minutes.  Reduce the oven temperature to 110°C/90°C Fan/Gas mark ¼ and bake for a further 25 minutes.  Turn off the oven and leave the oven door open for a cheesecake that is creamy in the centre or leave it closed for a firmer cheesecake.  Leave to cool in the oven for 2 hours.
6.    For the topping, combine the soured cream, caster sugar and wine in a bowl and spread all over the cheesecake.  Cover with foil and place in the fridge for at least 8 hours.
7.    Remove the cheesecake from the tin and serve, enjoy!

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