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, January 16, 2010

Break of 1.4447 update

with the break of 1.4447 on Friday, price had slowly drifted south as expected towards the 1.4300 region. EU traded to the lowest at at 1.4330 area before bouncing briefly towards the 1.4380 region before market close on Friday. With this i expect further downside to be seen next week if we do not see any major change in the fundamentals. Fundamental wise, Greece budget deficit and Trichet's recent dovish comment had weigh down the EU as well.
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