A Trader Is Only As Good As …

A Trader IS Only AS Good AS:

  • His Trading Plan
  • His Trading Discipline
  • His Trading Confidence not Cockiness!

I finished up 55 ticks today day trading or $550 … although it made my profit target of 4571 … the crude oil futures market retraced one time too many back to R1 on the trading day for me to stay in the trade.

Futures Day Trading Video Trading Tips Series: Click Here!

Futures Crude Oil Day Trading Charts Today: GANN 4th Time Thru Signal

Futures Crude Oil Day Trading Charts Today: Selling coming into Market Here

This was set up from the Highest Volume Bar shown on the crude oil chart. We topped out and lost steam to continue a move up and advance. It was up 4 days in a row so some retracement was in order today.

Futures Crude Oil Day Trading Charts Today: 50% Fibinacci Retracement Level

Futures Crude Oil Day Trading Charts Today: Another GANN Trading Signal Short

Futures Crude Oil Day Trading Charts Today: Trading Exit 4631

The Crude Oil Futures Market went back to R1 … one too many times for me today to stay in. After this last retracement, the market finally broke down to the Pivot Point during the trading session.

Futures Crude Oil Day Trading Charts Today: Going to Pivot Point!

The Crude Oil Market finally breaks to pivot, but without me being in. These used to be the trading days that would really get me pissed off, but now I just say, “That’s Fascinating!” I learned this from listening to Jim Rohn (personal development coach).

Today was a day I have been waiting on all week. Finally, we saw a move down. I am a better short trader, than long trader overall now. But … I was on the long side during the trading session. I was down 13 ticks before I finished up 55 ticks today.

It was one of those days the crude oil market payed you to remain disciplined and trade your plan. So a trader is only as good as his trading plan, his trading discipline and his trading confidence not cockiness!

 

Good Trading,

David M. Knight
TradeCraze

P.S. Would you like to know my all-time favorite day trading setups: Futures Day Trading Tips Series Click Here!

 

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.