The Secret of Successful Trading

"Successful traders have a larger edge and better money management than unsuccessful traders. Unlike popular belief however, this study shows that the smaller edge of successful traders is not the cause of their failure. Traders' failures can be explained almost exclusively by their poor money management practices."

"The Secrets of Successful Trading", Fernando Diaz

Friday, March 13, 2009

13th March 2009


On 11th March the EU came down to test one of the prominent support areas which i highlighted yesterday. A failure to break that area twice thus creating a double bottom had confirmed the support at the 1.2730 area. price eventually broke higher after the retest. At the point of writing. the EU is now hovering at the high of the Upper TL as indicated in the H1 Chart. i will look for these areas for today's trade.

Support : 1.2840/30 (confluence of 50% fib and WR1)
1.2770/60 (confluence of DS1 and MP)

Resistance : 1.2945 (yesterday high and Wr2)
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