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!

NO BAKE WHITE CHOCOLATE LIME CHEESECAKE

This No Bake White Chocolate Lime Cheesecake is a cross between a Key lime pie and a creamy, no bake cheesecake. The result? Your perfect summer dessert !!


The texture of the filling is bang on: firm enough to hold its shape, but still super creamy and melt-in-your-mouth velvety. The tanginess of the lime and cheese coupled with the delicate sweetness of the white chocolate complement each other so well, it’s like they were created to be together. The crust adds this tiny little hint of crunch to the experience, without taking up too much space. It just gives your teeth a little something to keep them busy while your tongue and palate are working on the softer components. And finally, the white chocolate ganache that covers the cake gives the whole adventure a graceful, voluptuous and silky finale.


Honestly, I’m usually a fan of serving cakes at room temperature, but this one would be an exception to that rule. I found it to be particularly amazing straight out of the ice box, making it the perfect dessert for summer. Well, not only because of that, but also because it doesn’t require the use of the oven, and because it tastes so crazy refreshing, too!

It just TASTES like a beautiful, warm and sunny summer day.

NO BAKE WHITE CHOCOLATE LIME CHEESECAKE RECIPE


Ingredients

FOR THE CRUST

  • 2 cups (250g | 8.8oz) graham cracker crumbs
  • 1/2 cup (100g | 3.5oz) light brown sugar, packed
  • 1/2 cup (120g | 4.2oz) butter, melted
  • 1 tsp pure vanilla extract, (store-bought or homemade)
  • 2 tbsp lime zest*
  • 1/4 tsp salt (I use Himalayan salt)

FOR THE CHEESECAKE FILLING

  • 3- (227g | 8oz) packages cream cheese, at room temperature
  • 1/2 cup (100g | 3.5oz) granulated sugar
  • 1 can (300ml | 397g | 14oz) sweetened condensed milk
  • 1 cup (240ml | 8oz) whipping cream
  • 1 cup (240ml) fresh lime juice*
  • 2-3 tbsp lime zest*
  • 1 cup (175g | 6.25oz) white chocolate, finely chopped
  • 8 sheets gelatin (or 2 tbsp (11g) powdered gelatin)

FOR THE WHITE CHOCOLATE GANACHE

  • 1-1/4 cup (220g | 7.7oz) white chocolate, finely chopped
  • 1/3 cup (80ml) whipping cream

GARNISH
1 cup whipped cream
1 tbsp grated lime zest*
1 tbsp granulated sugar
Instructions

  • Start by zesting, then juicing 8 limes. I strongly recommend that you use a microplane zester and a 2 in 1 lime and lemon sqeezer. These tools will make your life a whole lot easier!

FOR THE CRUST

  • Line the bottom of a 9” springform pan with parchment paper. To do that, remove the ring and cover the bottom with parchment paper. Fold the excess paper back under the plate and, while holding it in place with one hand, put the ring back in its position with the other hand. Bring the excess paper back from under the pan but do not cut it off.
  • Combine the graham cracker crumbs, brown sugar, melted butter, vanilla extract, salt and about 2 tbsp of the lime zest in a large mixing bowl. Mix until well combined and press firmly at the bottom and about halfway up the side of the prepared pan. Set aside.

FOR THE CHEESECAKE FILLING

  • Place the sheet gelatin to soak in a large bowl filled with icy cold water (if using powdered gelatin, sprinkle it over 1 cup of fresh lime juice so it has a chance to bloom).
  • Whip the heavy cream until firm peaks form and reserve.
  • Melt the white chocolate in a small mixing bowl and set aside.
  • In a large mixing bowl, combine the cream cheese and sugar and mix on high speed with an electric mixer for about 2 minutes, until light and fluffy. Add the condensed milk and about 3 tablespoons of lime zest and resume beating until well incorporated.
  • Pour in the melted white chocolate and mix on high speed until combined.
  • Warm the lime juice over very low heat or in the microwave until barely just warm to the touch (and until gelatin is completely melted, if using powdered gelatin). It's important that the lime juice doesn't become hot or it would hurt/destroy the gelatin; lukewarm is what you're after.
  • Remove the sheet gelatin from the water bath and squeeze it between your fingers to remove as much water as possible. Add the gelatin to the warm lime juice, stir until fully dissolved and then pour this into the cream cheese mixture. Resume mixing until it's well incorporated, then delicately fold in the whipped cream.
  • Pour onto the reserved crust and spread evenly all the way to the side of the pan. Gently tap the side of your pan and give it a little shake to help the top settle and smooth out.
  • Place your cake in the fridge until completely set, about 6 hours or better yet, overnight.

FOR THE WHITE CHOCOLATE GANACHE

  • In a small mixing bowl, combine the white chocolate and whipping cream and place that in the microwave for 30 seconds. Allow to rest for 30 seconds and then stir for 30 seconds. If there are still lumps of unmelted chocolate, repeat the process but for 20 seconds this time, and continue doing that until the chocolate is completely melted but not hot, and the ganache is well combined.
  • Pour this right over the cheesecake and tilt the pan in a circular motion to spread the ganache all the way to the egde; tap the sides and give the pan a little shake like you did before to help make that top really smooth and even.
  • Put the cake back in the refrigerator for about 15 minutes, until the ganache is set.

GARNISH

  • Take the cake out of the pan and place it on a cake plate or stand.
  • In a small bowl, combine a tablespoon of grated lime zest with an equal amount of granulated sugar and mix well; Decorate the cake with swirls of whipped cream (I used an open star Ateco #2) and sprinkle some of the sweetened zest over the rosettes, then garnish with slices of lime.
  • Serve chilled.

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