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!

FUDGY VEGAN BROWNIES

Brownies have always been one of my favourite sweet treats. Today, after quite a few rounds of testing ,I bring you a tray of perfect fudgy vegan brownies.


They are crispy on the inside and fudgy on the inside, the way every good brownie should be. They are intensely chocolatey, come together quickly and due to their small size, bake so quickly that you’ll have plenty of time to make yourself a cup of coffee before they are out of the oven.

FUDGY VEGAN BROWNIES RECIPE


INGREDIENTS

  • 2 tbsp flax / chia meal OR 3 tbsp reduced aquafaba*
  • 220 g / 1 ¾ cup white plain cake (as opposed to bread) flour
  • ¼ tsp baking soda
  • 6 tbsp / 3/8 cup raw cocoa powder
  • 110 g dark chocolate (I used 70% cocoa)
  • ¼ tsp salt
  • 60 ml / ¼ cup espresso + 75 ml / 5 tbsp boiling water
  • 200 g / 1 cup caster sugar
  • 80 ml / ¼ cup + 1 tbsp + 1 tsp mild olive oil
  • 30 g pistachios, chopped (optional)

INSTRUCTIONS : 
  1. If using flax or chia, prepare them by mixing 2 tbsp of ground seeds with 3 tbsp / 45 ml of water. Put aside in the fridge to allow it to thicken.
  2. Pre-heat the oven to 180° C / 350° F. Line a standard 12 hole muffin tin with cupcake liners or line the bottoms with circles of baking paper and insert a strip of baking paper into each hole to be able to take them out easily. Oil the sides of each muffin hole. Do not rely just on greasing the tin with olive oil alone as in my experience hardened tops are likely to come off when trying to remove brownies after baking (see the photo I put on my Instagram – @lazycatkitchen).
  3. Weigh your flour, add baking soda and mix the two together, sift. Set aside.
  4. Chop your chocolate very finely. Put it into a big mixing bowl, with cocoa powder and salt. Stir well.
  5. Boil a kettle of water and make an espresso. Make sure you time it so that they are both ready (and hot) at the same time. Pour 75 ml / 5 tbsp of boiling water and 60 ml / ¼ cup of hot espresso into the bowl with chocolate. Stir it well until chocolate dissolves into hot liquid. Do not add any more liquid.
  6. Add in sugar, flax / chia egg (by this time it should turn all sticky) or cooled aquafaba and olive oil. Using a hand mixer, blend the mixture until it’s smooth.
  7. It’s time to add flour and the baking soda mixture. Add a little at a time and stir it into the chocolate mixture with a spoon. Do not be tempted to use an electric mixer as it will overwork the batter and spoil the brownies. Stir gently and just enough until there are no flour pockets any more, but no more than that.
  8. Spoon the batter (it will be quite thick) into the muffin tin. Smooth it with a spatula and sprinkle chopped pistachios on top. Bake on middle shelf for about 11-12 minutes. Remember the brownies will continue to cook for a little while longer once removed from the oven and the tops will harden as they cool. The top should be nice and crispy, but the inside gooey. Remove them from the oven and let them sit in the tray until they are cool enough to remove. If you try to remove them too quickly, they may fall apart.

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