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

Friday, March 12, 2010

seems that Euro had found a strong footing here



It seems that EURO had found a rather strong footing here at the 1.3450 region. With numerous doji candles in the weekly chart, the downtrend now in EUR/USD is taking a breather. However the major downtrend trendline which can be seen clearly in the daily chart still holds. The pair is now consolidating in a triangle chart pattern and i might expect a breakout in either direction soon. Keep a close watch on new developments in the market which might provide the next catalyst to fuel the move in this pair.
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