PipStop

It has been quite a while since I have been in Nikhil's Online Training Room, and it was great to be there tonight. Nikhil has had his own unique trading path, and it's wonderful to hear him explain his trading thoughts. Sometimes he goes a little fast, but he's always willing to come back and explain.

While the explained technical analysis was insightful it's some of the little things that help to frame the entire picture. One seemingly simple point caught the attention of all those in the room. Nikhil used the term Bell Curve, but really it's the daily average run of three currency pairs that he shared. On average the EUR/USD moves 80 - 100 pips a day and the GBP/USD moves 130 - 150 pips a day. So there is a 50 pip difference between the averages. If you take the common currency out and look at the cross pair, it's the EUR/GBP, which coincidentally has a daily average run of 50 - 60 pips. With that backdrop the technical analysis of the currency pairs had more life.

Nikhil doens't hold back, and it's refreshing. He is honest in not only his trading, but in his life as well. I do have a personal relationship with him, and one thing I have always admired is his willingness to be brutally honest with me. As he always says, and as he reiterated to me in a Skype conversation afterwards, “Sam, I don’t hold back.” It’s true, he doesn’t hold back. He gives all he has whether its supporting his kids in university or liberally sharing his trading knowledge with those in his OTR sessions.

Starting in the New Year, a trading plan is going to be created for the room where all participants can take part, contribute, grow through. Coincidentally, while I am reading The Complete TurtleTrader: The Legend, the Lessons, the Results right now, Nikhil is reading Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders. I guess I'm going to go from reading one Turtle book to another in a few weeks.