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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!

Steamed Cake (Mushi-pan)

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Soft, light and spongy Japanese steamed cake (Mushi-pan) recipe. They are so easy to make. Perfect for healthy breakfast or after-school snack.
Making these soft, light, spongy Japanese steamed cake (Mushi-pan) is surprisingly easy. You can enjoy them as a healthy breakfast or after-school snack.   Choose savory or sweet based on the ingredients you use.
Ingredients
  • For Basic Steamed Cake
  • ½ cup all-purpose flour (½ cup = 60 g)
  • 1 tsp baking powder
  • 1 large egg
  • 2 Tbsp milk
  • 2 Tbsp sugar
  • 1 Tbsp neutral flavor oil (vegetable, canola, etc)
  • For Corn & Cheese Steamed Cake:
  • ½ cup all-purpose flour (½ cup = 60 g)
  • 1 tsp baking powder
  • 1 large egg
  • 2 Tbsp milk
  • 2 Tbsp sugar
  • 1 Tbsp neutral flavor oil (vegetable, canola, etc)
  • ¼ cup corn kernels (¼ cup = 40 g)
  • ¼ cup shredded cheese (¼ cup = 25 g) (I used sharp cheddar)
  • For Double Chocolate Steamed Cake:
  • ½ cup all-purpose flour (½ cup = 60 g)
  • 1 tsp baking powder
  • 1½ Tbsp unsweetened cocoa powder (1½ Tbsp = 7 g)
  • 1 large egg
  • 3 Tbsp milk
  • 2 Tbsp sugar
  • 2 Tbsp neutral flavor oil (vegetable, canola, etc)
  • 2 Tbsp chocolate chips (2 Tbsp = 25 g)


Instructions
  1. Cover the lid with kitchen towel to prevent condensation from the lid from falling on to the steamed cakes (please don’t skip!).  Fill a large frying pan with water about ½ inch (1.3 cm) deep. Cover the pan with the lid and slowly bring water to boil. 
  2. For Basic Steamed Cake
  3. Gather all the ingredients.
  4. In a medium bowl, combine all-purpose flour and baking powder and whisk well to combine (shortcut for sifting).
  5. In a small bowl, whisk the egg, milk, sugar, and vegetable oil together until combined.
  6. Pour the egg mixture into the flour mixture and mix until smooth.
  7. Put a cupcake liner in glass ramekins and divide the batter into the cupcake liners.
  8. Place the glass ramekins in the boiling water and cook covered on the lowest heat for 8 minutes.
  9. They're done when a skewer inserted comes out clean without wet batter. Turn off the heat and remove the ramekins from the pan and let them cool on a wire rack. Serve warm or at room temperature.
  10. For Corn & Cheese Steamed Cake
  11. Gather all the ingredients.
  12. In a medium bowl, combine all-purpose flour and baking powder and whisk well to combine (shortcut for sifting)
  13. In a small bowl, whisk the egg, milk, sugar, and vegetable oil together until combined.
  14. Pour the egg mixture into the flour mixture and mix until smooth.
  15. Add corn and cheese and mix until combined. Put a cupcake liner in glass ramekins and divide the batter into the cupcake liners.
  16. Place the glass ramekins in the boiling water and cook covered on the lowest heat for 12-13 minutes. They're done when a skewer inserted comes out clean without wet batter.
  17. Turn off the heat and remove the ramekins from the pan and let them cool on a wire rack. Serve warm or at room temperature
  18. For Double Chocolate Steamed Cake
  19. Gather all the ingredients.
  20. In a medium bowl, combine all-purpose flour, baking powder and cocoa powder, and whisk well to combine (shortcut for sifting).
  21. In a small bowl, whisk the egg, milk, sugar, and vegetable oil together until combined.
  22. Pour the egg mixture into the flour mixture and mix until smooth.
  23. Add chocolate chips and mix until combined. Put a cupcake liner in glass ramekins and divide the batter into the cupcake liners.
  24. Place the glass ramekins in the boiling water and cook covered on the lowest heat for 8 minutes. They're done when a skewer inserted comes out clean without wet batter. They're done when a skewer inserted comes out clean without wet batter. Turn off the heat and remove the ramekins from the pan and let them cool on a wire rack. Serve warm or at room temperature.
Recipe Adapted From justonecookbook.com

Recipe Notes
Glass ramekins: You can use these ramekins to make (steamed) Custard Pudding!
Equipment you will need:
A large frying pan with lid that can fit 4 ramekins
Kitchen towel that is big enough to cover the lid
4 cupcake liners
4 6 oz glass ramekins
Recipe by Namiko Chen of Just One Cookbook. All images and content on this site are copyright protected. Please do not use my images without my permission. If you’d like to share this recipe on your site, please re-write the recipe in your own words and link to this post as the original source. Thank you.

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