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!

CREME BRÛLÉE CUPCAKES

CREME BRÛLÉE CUPCAKES
These Creme Brûlée Cupcakes are made with a moist vanilla cupcake and pastry cream filling, then topped with caramel frosting and a lovely caramelized sugar top! They are so fun and absolutely delicious!
CREME BRÛLÉE CUPCAKES
Yield: 12-14 Cupcakes 
Category: Dessert
Method: Oven 
Cuisine: American

INGREDIENTS
VANILLA CUPCAKES
  • 6 tbsp (84g), unsalted butter, room temperature
  • 3/4 cups (155g) sugar
  • 6 tbsp (86g) sour cream, room temperature
  • 2 tsp vanilla extract
  • 3 large egg whites, room temperature
  • 1 1/4 cups (163g) all purpose flour
  • 2 tsp baking powder
  • ¼ tsp salt
  • 6 tbsp (90ml) milk, room temperature
  • 2 tbsp (30ml) water, room temperature
PASTRY CREAM FILLING
  • 2 egg yolks
  • 6 tbsp (78g) sugar
  • 1 1/2 tbsp cornstarch
  • 1 cup (240ml) milk
  • 1 tbsp (14g) salted butter
  • 1 tsp vanilla extract
CARAMEL FROSTING
  • 1/2 cup (112g) salted butter
  • 1/2 cup (95g) shortening
  • 4 cups (460g) powdered sugar
  • 3-4 tbsp caramel sauce
  • 2-3 tbsp water or milk
  • 1/4 cup (52g) sugar
INSTRUCTIONS
  1. Preheat oven to 350°F (176°C) and prepare a cupcake pan with cupcake liners.
  2. In a large mixing bowl, cream butter and sugar together until light in color and fluffy, about 3-4 minutes. Do not skimp on the amount of creaming time.
  3. Add sour cream and vanilla extract and mix until well combined.
  4. 4Add egg whites in two batches, mixing until well combined after each. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated.
  5. Combine dry ingredients in a separate bowl, then combine the milk and water in a small measuring cup.
  6. Add half of the dry ingredients to the batter and mix until well combined. Add the milk mixture and mix until well combined. Add remaining dry ingredients and mix until well combined. Scrape down the sides of the bowl as needed to be sure all ingredients are well incorporated.
  7. Fill the cupcake liners about halfway. Bake for 15-17 minutes, or until a toothpick inserted comes out with a few crumbs.
  8. Remove cupcakes from oven and allow to cool for 2-3 minutes, then remove to cooling rack to finish cooling.
  9. While the cupcakes cool, make the pastry cream. Put the egg yolks in a medium sized bowl and gently beat them together. Set aside.
  10. Add the sugar, cornstarch and milk to a large saucepan and mix until smooth.
  11. Cook, stirring continuously, over medium-high heat until mixture begins to thicken and bubble.
  12. Reduce heat to medium and simmer for 2 minutes. Remove from heat.
  13. Add a little bit of milk mixture to the egg yolks and whisk together, then add egg mixture to milk mixture. This process ensures that you don’t cook the egg yolks.
  14. Place the pan back on the heat and bring to a light boil. Allow to boil for 2 minutes, stirring continuously.
  15. Remove from heat and add butter and vanilla extract. Stir until smooth, then set aside to cool to room temperature.
  16. To make the frosting, beat the butter and shortening together in a large mixer bowl until smooth.
  17. Add about half of the powdered sugar and mix until smooth and well combined.
  18. Add 3 tablespoons of caramel sauce and and mix until combined.
  19. Add the remaining powdered sugar and mix until smooth.
  20. Add additional caramel sauce and the water or milk, as needed, to get the right consistency frosting.
  21. Use a cupcake corer or knife to remove the centers from the cupcakes, then fill them with the pastry cream.
  22. Pipe the frosting onto the cupcakes. I used Ateco tip 808 to create the dome of frosting.
  23. Add the sugar to a small bowl and turn the cupcakes over and dip them into the sugar, one at a time.
  24. Refrigerate the cupcakes until the frosting is cool and firm, about 30 minutes to an hour.
  25. Use a butane kitchen torch to caramelize the sugar on top.
  26. Refrigerate the cupcakes until ready to serve. Best served cool, but not cold.
  27. Enjoy!

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