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

Sunday, February 21, 2010

Likely consolidation from 1.3400 to 1.3800


Strong earnings coupled with fed raising discount rates had managed to send investors back to risky assets. The EU managed to stem its fall after breaking below the 1.3500 level. the pair is now back above 1.3500. I would expect some consolidation ahead for the pair in between 1.3400 to 1.3850. If we can see a clear break above 1.3850 the pair might stage an oversold rally towards the 1.4000 level.
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