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

Thursday, March 5, 2009

EU Update 11:35

A potential double top/lower high formation could be seen in the H1 chart of EU the 2nd top did respect the bearish upper trendline. The ECB would be announcing the minimum bid rate later tonight at 8:45PM (+8 GMT) which we expect a cut of 50 basis point bringing down the rate to 1.50% from 2.00% earlier last month. watch out for a potential lower high fomation from this top at the 1.2630/50 area.
immediate support can be seen at 1.2600
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