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, May 21, 2010

Bearish formation across the indices


it seems that bearish formation can be seen across the board, will it bring about a larger correction this time? anyhow, large bearish outside candles seldom fails. I would expect more corrections to come if we see a strong close by the bears this month.
*above is the monthly chart of SNP500 and DJIA
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