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!

Easy Mini Cheesecakes

Easy Mini Cheesecakes

Inspired by Cheesecake Factory, these mini cheesecakes have super creamy texture and taste. They are easy to make and great to take to parties and gatherings. Enjoy them as they are or with your favourite marmalade and berries. Yum!


Servings: 12 cheesecakes
Prep Time:15 minutes
Cook Time:15 minutes
Passive Time:8 hours

Ingredients
  • The Base
  • 5.3 oz digestive biscuits (150 gr) or use graham crackers
  • 1/4 cup butter (60 gr), melted
The Cheese Filling
  • 10.5 oz cream cheese (300 gr), room temperature
  • 1/2 cup sugar (100 gr)
  • 2 eggs , room temperature
  • 1 tsp vanilla extract
  • 1 tbsp lemon juice
  • 1 1/2 tbsp all purpose flour (14 gr)
  • 6.5 oz sour cream (185 gr), room temperature
Optional Toppings
  • some strawberry marmalade
  • berries of your choice

Instructions
The Base
  1. Using a food processor, blend digestive biscuits into fine mixture. Pour into a bowl and add melted butter. Mix well.
  2. Divide evenly into 12 muffin liners in a muffin pan. Using a spoon, press the mixture tightly and evenly. Set aside.
The Cheese Filling
  1. Using a low speed in your mixer, mix cream cheese until just creamy. While mixing, gradually add in sugar. Then add in eggs 1 by 1, mixing just until well combined. 
  2. Then add in vanilla extract, lemon juice, flour and mix again just until combined. Finally add in sour cream and mix everything together.
  3. Using an ice cream scoop, divide the cheesecake filling evenly into prepared muffin pan. Gently shake the pan to make the top surface flat. 
  4. Bake in a preheated oven at 320ºF (160ºC) for 15 minutes or when you gently shake the pan, the cheesecake wiggle a bit and the center look not as set.
  5. Remove from the oven and leave to cool to room temperature in the pan. Place the pan in the fridge overnight.
Note
Do not over mix to avoid cheesecake from cracking while baking.
It's easier to remove the cheesecakes from the pan after they're chilled in the fridge.
They taste amazingly delicious after an overnight chilling in the fridge.
How To Serve
Serve as they are or with some strawberry marmalade and your favourite berries.

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