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

Monday, March 23, 2009

23rd March 2009


The 50% fibs from friday high and low might provide some support for the pair at the 1.3600 area. further support can be seen also at the MR3 at around 1.3588 as well. The bearish pattern created last friday might be hinting that the pair will face some resistance here at the Friday's high at around the 1.3730 area which is also the 38.2 fibs level from the high of 1.6000 to the low of 1.2330.

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