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!

JAPANESE SOUFFLE PANCAKES FOR BREAKFAST

These Japanese-style Souffle Pancakes are incredibly light and fluffy. They are a popular trend in Japan, but you can recreate them in your own home.


I tried quite a few recipes I came across on the internet and while they tasted delicious, they didn’t quite taste like the ones I had at Gram.

These do take more effort than your regular classic buttermilk pancakes, but they are a fun treat. The pancakes are cooked in a skillet just like regular pancakes but the batter involves a meringue, which is what makes these so much lighter.

JAPANESE SOUFFLE PANCAKES RECIPE
This is a homemade version of the popular Japanese Souffle Pancakes. They are incredibly fluffy and light.


INGREDIENTS:

VERSION 1: WITH BAKING POWDER

  •  6 tbsp cake flour
  •  2 1/2 tbsp skim milk
  •  1 tsp baking powder
  •  1/4  tsp vanilla extract
  •  1/2 tbsp full fat mayonnaise or kewpie mayonnaise this is the Japanese mayonnaise
  •  3 tbsp granulated white sugar
  •  2 large eggs egg whites and egg yolks separated (keep egg whites chilled in fridge until ready to use)

VERSION 2: WITHOUT BAKING POWDER

  •  5 tbsp cake flour
  •  1 1/2 tbsp skim milk
  •  1 tbsp unsalted butter melted
  •  1/2 tsp vanilla extract
  •  2 1/2 tbsp granulated white sugar
  •  2 large eggs  egg whites and egg yolks separated (keep egg whites chilled in fridge until ready to use)
  •  1/4 tsp cream of tartar

HOW TO MAKE :

VERSION 1

  1. In a medium bowl, add milk, baking powder, vanilla, mayonnaise and egg yolks. Sift in cake flour using a flour sifter or fine mesh strainer (make sure you don't skip this!). Mix with a whisk until batter is smooth and the mixture is a pale yellow.
  2. In the bowl of a stand mixer, add chilled egg whites and sugar. Make sure your mixing bowl and whisk attachment are completely clean and dry. If there is any oil, your egg whites won't turn into meringue. Whip on the highest speed your mixer allows, until stiff peaks form. (About 2-3 minutes.) Your meringue should be able to hold its form and if you turn the mixing bowl upside down, the meringue will not slide out.
  3. Using a spatula, scoop out one-third of the meringue and add to your egg yolk batter. Gently fold the meringue into the batter until there are no more white streaks. Make sure you start your folds from the bottom so that the batter at the bottom of the bowl doesn't go unmixed. You need to be gentle when folding. If you mix too hard, the meringue will lose its structure. Once the meringue has been incorporated, add in another third. Fold in. And then the final third. At the end, you batter should be very light and airy, with the meringue only just incorporated to the point where there are not visible white streaks.
  4. If this is your first time making these, you may want to start with just one as a test, to determine the heat setting for your stove and how long to cook the pancakes. But the directions I am sharing is for how I would normally cook these. Add two ring molds to a large skillet. Spray the insides of the ring molds with cooking oil spray. I found that this is the best method to grease, as it completely greases the interior of the molds and also the bottom where the pancakes will be, but doesn't spread grease to the rest of the parts of the pan you won't be using.
  5. Bring your skillet to low heat. It may take a test one to figure out where exactly you want your heat setting. For me, I turned my dial to heat setting 4 (with 10 being the highest) on my gas stove top. Once the oil and pan are hot, fill each ring mold between 1/2 to 2/3 full with batter, allowing some room for them to rise. Add 1/2 tbsp of water to each side of the pan (preferably not touching the pancakes). Close the lid and allow to cook about 3-4 minutes.
  6. Your pancakes are ready to flip when the tops look almost completely cooked and you can move the bottom of the pancakes without batter spilling out. Use a spatula or turner to flip the pancakes (while still in their molds). I prefer to use a cookie spatula because they are thinner and slip under the molds easier.
  7. Cover and cook for another 2-3 minutes until pancakes are completely cooked and golden brown on both top and bottom. Place pancakes onto plate. Gently push out of the molds to remove from molds. Repeat with remaining batter. Serve warm with syrup, powdered sugar, whipped cream, fruit, or other toppings of your choice.

VERSION 2

  1. In a medium bowl, add milk, melted butter, vanilla, and egg yolks. Sift in cake flour using a flour sifter or fine mesh strainer (make sure you don't skip this!). Mix with a whisk until batter is smooth and mixture is a pale yellow.
  2. In the bowl of a stand mixer, add chilled egg whites, sugar and cream of tartar. I don't recommend skipping the tartar as it really helps to keep the egg whites stable so that the souffles don't collapse. Make sure your mixing bowl and whisk attachment are completely clean and dry. If there is any oil, your egg whites won't turn into meringue. Whip on the highest speed your mixer allows, until stiff peaks form. (About 2-3 minutes.) Your meringue should be able to hold its form and if you turn the mixing bowl upside down, the meringue will not slide out.
  3. Using a spatula, scoop out one third of the meringue and add to your egg yolk batter. Gently fold the meringue into the batter until there are no more white streaks. Make sure you start your folds from the bottom, so that the batter at the bottom of the bowl doesn't go unmixed. You need to be gentle when folding. If you mix too hard, the meringue will lose its structure. Once the meringue has been incorporated, add in another third. Fold in. And then the final third. At the end, you batter should be very light and airy, with the meringue only just incorporated to the point where there are not visible white streaks.
  4. If this is your first time making these, you may want to start with just one as a test, to determine the heat setting for your stove and how long to cook the pancakes. But the directions I am sharing is for how I would normally cook these. Add two ring molds to a large skillet. Spray the insides of the ring molds with cooking oil spray. I found that this is the best method to grease, as it completely greases the interior of the molds and also the bottom where the pancakes will be, but doesn't spread grease to the rest of the parts of the pan you won't be using.
  5. Bring your skillet to low heat. It may take a test one to figure out where exactly you want your heat setting. For me, I turned my dial to heat setting 4 (with 10 being the highest) on my gas stove top. Once the oil and pan are hot, fill each ring mold between 1/2 to 2/3 full with batter, allowing some room for them to rise. Add 1/2 tbsp of water to each side of the pan (preferably not touching the pancakes). Close the lid and allow to cook about 4-5 minutes.
  6. Your pancakes are ready to flip when the surface looks completely cooked. The cakes will rise quite high (possible past the rim of the molds), but they will start to collapse slightly once you remove the lid and let out some of the heat. Be careful not to try to flip these too soon because they will collapse and will stay collapsed. Use a spatula or turner to flip the pancakes (while still in their molds). If you have batter spilling out when you flip these, then they are not ready to be flipped and will likely collapse. I prefer to use a cookie spatula because they are thinner and slip under the molds easier.
  7. Cover and cook for another 3-4 minutes until pancakes are completely cooked and golden brown on both top and bottom. Place pancakes onto plate. Gently push out of the molds to remove from molds. Repeat with remaining batter. Serve warm with syrup, powdered sugar, whipped cream, fruit, or other toppings of your choice..
Nutrition Facts
Japanese Souffle Pancakes
Amount Per Serving (1 pancake)
Calories 270Calories from Fat 82
% Daily Value*
Total Fat 9.1g14%
Saturated Fat 3.6g18%
Polyunsaturated Fat 1.9g
Monounsaturated Fat 3g
Cholesterol 194.7mg65%
Sodium 90.7mg4%
Total Carbohydrates 37.5g13%
Dietary Fiber 0.4g2%
Sugars 18.3g
Protein 8.8g18%
Vitamin A7%
Calcium11%
Iron15%
* Percent Daily Values are based on a 2000 calorie diet.

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