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Daily Forex Signal 29 JAN 2010 released 01.08 GMT

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D20P SELL A GBP/USD 1.6153

take profit 1.6133

stoploss 1.6183

DAILY20PIP.COM ADVICE : SIDEWAY MARKET AHEAD

SIGNAL VALID FROM 6.00 GMT - 18.00 GMT

RESULT WIN

The Overconfident Syndrome

forex-confident.jpgThere are many traders that think they must never close a trade until it will turn into a profitable one, the truth is by doing that they are just digging their grave.

Many trader think their predictions based on a particular indicator and technical analysis will always be right and the forex market will start behaving in the way they had predicted in any moment.