Last update: August 2021

≈ A world of difference. ≈

Recorded live at the London Palladium on 30 June 1991 and hosted by Stephen Fry, “Hysteria 3!” was a charity gig with benefits going to the Terrence Higgins Trust, a British charity that campaigns on and provides services relating to HIV and sexual health.

One of the numbers featured Rowan Atkinson interviewing Sir Elton John. Throughout the entire sketch, Atkinson mocks the singer/composer and roasts him about the origins of his moniker:

— Funny name… ‘Elton’. Did you ever consider ‘John Elton’?
— No.
— You didn’t.
— No.
— OK.

John Elton and Elton John are not the same person. Names are path-dependent in the sense that reverting the order Christian name/Surname makes all the difference, especially when referring to famous individuals.

— You didn’t feel that people might say, wait a minute, they mean ‘John Elton’. They’ve cocked up the record sleeve and printed the bloody name the wrong way around?

This path-dependency is also true in trading:

• Sell the calls before buying the stock.
• Sell back the stock before buying back the calls.
• Trying to fully understand what a stock is before buying it.
• Trying to fully understand how cryptos work before trading them.
• Reading trading books before start trading.
• Live trading before paper trading.
• Entering a position before planning the exit.
• Buying a stock before identifying the stop loss.
• Start losing 50% of the account value instead of start growing the account by 50%.

You get the idea. Reverse the order and you’re in trouble.

If Elton John ever changed his “stupid, pointless, bloody name” to John Elton, his career wouldn’t have been the same, right? Now try to realize how much better will be your trading once you start thinking loss before profit.

A world of difference.

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Chart of the Day: Highway to Hell EUR/USD

The EUR/USD monthly candlesticks chart above shows the Euro approaching a deadly support zone. No stop signs, speed limit, nobody’s gonna slow it down.

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Video of the day: Rowan Atkinson – Interview with Elton John

Rowan Atkinson interviews Elton John at Hysteria 3! (1991)

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Trading Justice Podcast Episode 361: Jake Pelley on how to approach trading in 2020

In this episode of the Trading Justice Podcast, the boys are joined by Jake Pelley as they get a chance to talk to him about how he’s approaching trading in 2020. Listen to the episode in the player below:

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