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, April 30, 2009

30th April 2009


The US Fed funds rate came and go. Traders seem to buy into the dollar's strength on the news that the US economy is slightly up and rates will be hold unchnaged for the time being. In the H4 chart the EU traced out a bearish pattern which halted the uptrend. Any continuation of the uptrend would be indicated by the break of the high created yesterday. If we have a close below the 1.3200 level in H4, a correction to the uptrend or continuation of the downmove will set in.
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