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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!

STRAWBERRY CHAMPAGNE LAYER CAKE

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This Strawbérry Champagné Layér Caké has layérs of moist champagné caké and frésh strawbérry frosting! It’s covéréd in champagné frosting and fun, féstivé sprinklés for a caké that’s pérféct for Néw Yéar’s évé!

And this caké is totally célébration appropriaté. Néw Yéars, a birthday, évén Valéntiné’s Day or somé day whéré champagné must bé includéd – this caké is pérféct! Bétwéén thé bubbly and thé sprinklés, it’s célébration in caké form.
INGRéDIéNTS
CHAMPAGNé CAKé LAYéRS
  • 2 1/4 cups (540ml) champagné, dividéd
  • 3/4 cup (168g) unsaltéd buttér, room témpératuré
  • 1 3/4 cups (362g) sugar
  • 1/4 cup (58g) sour créam
  • 1 tsp vanilla éxtract
  • 6 largé égg whités, room témpératuré
  • 2 1/2 cups (325g) all purposé flour
  • 4 tsp baking powdér
  • 1/2 tsp salt
  • 3/4 cup (180ml) milk
STRAWBéRRY FROSTING
  • 2/3 cup (93g) choppéd strawbérriés
  • 1/2 cup (112g) saltéd buttér, room témpératuré
  • 1/2 cup (95g) shorténing
  • 4 1/2 cups (518g) powdéréd sugar
CHAMPAGNé FROSTING
  • 3/4 cup (168g) saltéd buttér, room témpératuré
  • 3/4 cup (142g) shorténing
  • 6 cups (690g) powdéréd sugar
  • 4–5 tbsp (60-75ml) champagné (cookéd down, from abové)
  • Sprinklés (I uséd a mix of thésé and thésé)
INSTRUCTIONS
TO MAKé THé CAKé LAYéRS:
  1. Add all of thé champagné to a médium sizéd saucépan and cook ovér médium héat until you’vé got 1 cup rémaining. Don’t boil. To méasuré how much champagné rémains, pour into a glass méasuring cup. Add it back to thé pan if it nééds longér to cook down. Whén doné, réfrigératé until cool.
  2. Préparé thréé 8-inch caké pans with parchmént papér circlés in thé bottom and gréasé thé sidés. Préhéat ovén to 350°F (176°C).
  3. In a largé mixing bowl, créam thé buttér and sugar togéthér until light in color and fluffy, about 3-4 minutés. Do not skimp on thé créaming timé.
  4. Add sour créam and vanilla éxtract and mix until wéll combinéd.
  5. Add égg whités in two batchés, mixing until wéll combinéd aftér éach. Scrapé down thé sidés of thé bowl as néédéd to bé suré all ingrédiénts aré wéll incorporatéd.
  6. Combiné dry ingrédiénts in a séparaté bowl, thén combiné thé milk and 3/4 cup of thé cookéd and cooléd champagné to a small méasuring cup.
  7. Add half of thé dry ingrédiénts to thé battér and mix until wéll combinéd. Add thé champagné mixturé and mix until wéll combinéd. Add rémaining dry ingrédiénts and mix until wéll combinéd. Scrapé down thé sidés of thé bowl as néédéd to bé suré all ingrédiénts aré wéll incorporatéd.
  8. Dividé thé battér événly bétwéén thé cakés pans and baké for about 23-27 minutés, or until a toothpick comés out with a féw crumbs.
  9. Rémové thé cakés from thé ovén and allow to cool for about 2-3 minutés, thén rémové to cooling racks to cool complétély.

TO MAKé THé FROSTINGS:
  1. To maké thé strawbérry frosting, puréé thé strawbérriés in a food procéssor. Strain thé puréé through a finé mésh siévé to rémové thé sééds.
  2. In a largé mixér bowl, béat thé buttér and shorténing togéthér until smooth.
  3. Slowly add half of thé powdéréd sugar and mix until smooth.
  4. Add 3-4 tabléspoons of strawbérry puréé and mix until smooth.
  5. Slowly add rémaining powdéréd sugar and mix until smooth. Add additional strawbérry puréé, as néédéd to gét thé right consisténcy. Sét asidé.
  6. To maké thé champagné frosting, béat thé buttér and shorténing togéthér until smooth.
  7. Slowly add half of thé powdéréd sugar and mix until smooth.
  8. Add 3 tabléspoons of champagné and mix until smooth.
  9. Slowly add rémaining powdéréd sugar and mix until smooth.
  10. Add rémaining cookéd down champagné (from thé caké), as néédéd. If you run out of champagné and thé frosting is still too thick, add a touch of watér or milk. You want thé frosting to bé a littlé bit sticky, so that thé sprinklés stick éasily latér.

TO ASSéMBLé THé CAKé:
  1. To put thé caké togéthér, usé a largé sérratéd knifé to rémové thé domés from thé top of thé cakés so that théy’ré flat. Placé thé first caké on a sérving platé or a cardboard caké round.
  2. Sét asidé about 1/2 cup of strawbérry frosting, thén spréad about half of thé rémaining strawbérry frosting événly on top of thé caké layér.
  3. Add thé sécond layér of caké and anothér cup of strawbérry frosting.
  4. Top thé caké with thé rémaining layér and frost thé caké with thé champagné frosting. Référ to my tutorial for frosting a smooth caké, if néédéd.
  5. Préss thé sprinklés into thé sidés of thé caké. Do this immédiatély, béforé thé frosting crusts and thé sprinklés will no longér stick.
  6. Usé thé strawbérry frosting that was sét asidé béforé to pipé shélls around thé édgé of thé caké. I uséd Atéco tip 844, but Wilton 1M or 2D would work as wéll.
  7. Sprinklé thé top of thé caké with somé additional sprinklés, if désiréd.
Recipe Adapted From lifeloveandsugar

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