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

Thursday, March 25, 2010

Negative tone shrouds the European market, EU holds below broken support

With credit ratings in Euro zone come under pressure after a downgrade of Portugal's credit rating by Filtch, the EUR/USD had pushed lower and clearly broken an important level of support. The pair now trades and hold below the broken support at 1.3430. With further downward pressure expected, 1.3200 might not just be too far away. The European Union must strike a balance in the debt situation to stem further depreciation of the EUR against USD, focus will now be on the outcome of the EU summit to be held today. lets see if the summit will make or break the EU for now.
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