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, October 3, 2009

2nd October 2009



The NFP for September 2009 painted a rather disappointing figure, as per usual risk aversion tale goes, we would expect the USD to strengthen as investors flocked to safer heaven vehicles, but it seems that this time is not the case as we see that the initial reaction of buying the dollar was soon replaced by selling the USD. So from the daily chart we see another potential bounce from the trendline support, will this manifest to a higher high ? lets see next week, enjoy your weekends ppl! happy lunar festival for the Chinese which falls on 3rd October 2009.

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