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

Tuesday, March 3, 2009

3rd March 2009



It seems that the EU is still stucked in a tight range of 1.2630 and 1.2550 the 1.2550 level still serve as a prominent support where prices seems to bounce from that area. the H1 chart shows a hammer which signifies strong support at the 1.2550 area. I might expect the price to retest the yesterday high. Further upside will be seen if yesterday high was taken out clearly. and the downside will remain if the price stays below yesterday high(1.2630) or 1.2600 psychological level.

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