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

Saturday, April 4, 2009

Friday NFP Trading April 2009

Trading on NFP Friday is not really recommended. The added level of confidence gained from trading daily had provided me to trade at 100% lot size on NFP friday this month. After the loss earlier this week i had since paid more attention to higher TF particularly the Daily, H4 and H1. I had revamped my strategy to include observation in these TF and place trades accordingly. This inturn had helped alot in filtering bad entires and to look for better trading opportunities when they arrises. Overall i'm quite please with my progress this week although i had incurred some losses earlier on. I reckon i will be making better trades next week.
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