Live long and prosper

I am a Treckie but a later arrival. I missed the whole point in the early 1980s. I remember being in NY City in about 1981 when I saw a bunch of people in a hotel dressed in "weird" costumes. I had discovered Star Trek.


What has all this got to do with trading? Well, one of the main characters, Spock, is a Vulcan and the Vulcans' most observable quality is a lack of emotion. Perhaps not a lack, but the ability to sublimate emotion to logic. I always thought that Spock would have been a great trader.


As I said to one of my students this morning, off piste trades (trades that don't comply with a trader's TP) are the biggest barrier to CP. A trader works hard all day grinding it out and loses it all in one silly impulsive trade. It is important to maintain focus on your TP all day and measure each picture only against this TP. 


In order to do this, you must first have a proper TP. I teach students to create a first TP and then evolve it, bit by bit, as their skill rate improves and as their screen time provides them with the ability to see better. But it all depends on keeping your cool and having that Vulcan state of mind.


Live long and prosper!

The DAX this morning, London time, was doing its magic. Nice trends and nice pullbacks = Ching, ching! The chart is a Renko chart using MarketDelta with a 2.0 box. Similar to a range bar but no wicks. A very clean chart.