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

Sunday, March 1, 2009

2nd March 2009


The EU crisis summit is held today ( 1st march 2009). expect the EU to move significantly during the market close in this conference.
last week the pair tried to break higher initially but failed to rally pass the 1.3000 psychological level. for the next few days rally in EU was met with strong selling pressure all the way creating lower highs. the pair initially tried to stay above the 1.2700 level but failed eventually as the week ends thus forming a lower low as well.

levels to focus for 2nd march 2009 would be the 1.2700 a break of this level and the next level of 1.2760 would open up for further upside but if price were to stay below the 1.2700 level and subsequently break the 1.2600 support we would see the pair heads lower to the 1.2500 level.

lets see what the PA tells us this tomorrow.

happy trading !
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)