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 Perfect Pancake Recipe

Pancakes
This has to be my favourite Pancake recipe, they are delicious.  Add your favourite topping or just go classic!
Makes 8 crepes
Prep: 10 min & Cook: 10 min

Ingredients125g plain flour
Pinch of salt
1 egg
1 egg yolk
2 tbsp caster sugar
2 tbsp dark rum (optional)
225ml semi-skimmed milk
2tbsp melted butter, cooled
Butter for frying
1tbsp grated lemon zest
2tbsp caster sugar for serving
1 lemon, quartered 

Method

1. To make the pancakes, sift the flour and salt into a bowl. Whisk the egg, egg yolk, caster sugar and rum into the milk, then add gradually to the flour, whisking until smooth, without over-beating. Stir in the 2tbsp melted butter.

2.  Melt a little extra butter in a 15cm non-stick frying pan.

3.  Add a small ladleful of the batter, tilting the pan to help it to spread thinly. Cook for 1-2 min until golden, then use a palette knife to turn (or flip) and cook for 1 min until golden brown.

4. Loosely roll the pancake and keep it warm while you make the remaining pancakes. Mix the lemon zest and caster sugar together, sprinkle it over the pancakes, and serve with lemon wedges.
Cooks tips
v  To get rid of lumps, whisk briefly with a hand whisk or strain through a sieve.
v  Don’t overwork the batter and you won’t need to rest it.
v  To get fine, lacy pancakes, add only enough batter barely to cover the base of the pan.
v  To get really crisp edges, add a tiny bit less still — so that even when you tilt the frying pan to swirl the batter, it doesn’t quite reach the sides.
v  And remember, the first one you make will always be a bit dodgy.
 

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