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

Tuesday, March 9, 2010

EUR/USD consolidatiing in a triangle



There was a wave of positive sentiment in the market after the release of the NFP data last week. US data might suggest economy recovery is now in place and might spur demand for risky assets. But for this bull move to really register a significant impact, EUR/USD must 1st be able to break the downtrend channel in the daily chart and get back above the 1.3800 area. lets see how will this unfold.

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