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

Friday, April 24, 2009

Short Entry 23rd April 2009



The H4 in this trade was not yet completed but it did not show any bearishness yet. The H1 however showed some bull strength. A look at the M5 might suggest a good short at the "right shoulder of a possible H&S formation. But overall this was a risky trade. I was out +8. Will never take this kind of trade again. its not worth the risk and the RR is not right.

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