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

Wednesday, March 24, 2010

Support tested and broken in EUR/USD!


Finally! A new low is now seen in the latest efforts of bears to push the pair lower. The 1.3430 important support is clearly violated for now. I will expect some renewed selling pressure for this pair targeting the 1.3200 region maybe later this month end. Care must also be taken as there will be EU summit this week. Watch out not too chase the low though.

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