S0meone has said a picture is worth a 1000 words …
What did this picture mean to me?
This was a simple to understand trading setup. We had a pattern of lower highs forming and the Pivot Point sitting there just asking to come on back down to me. My original reward was 3 to 1 when I took on the trading opportunity. I thought we could drive back down to 3333.
I went into the day trade with only one intention. Take one trade to see if I could finish up my trading month above the zero line and have a positive January 2016. This was accomplished on this trade.
Short Trade Entry: 3368 at 12:56PM CST (original trade entry was 3369 … one tick slippage on trade)
Trade Exit: 3346 at 1:14PM CST
I moved to breakeven on the break to the pivot point located at 3343 and went to 3346 to lock in a positive month on the small break under the pivot point. This was all according to plan. I was risking 10 ticks to make 30 ticks, but I settled for 22 ticks or 2:1 on the short trade.
What this did was more on the mental framework than anything else, I wanted to finish the month of January positive, if possible. I was willing to risk $100 to see this become the case while looking for at least $200 or more on the trading opportunity.
Bottom line, this leaves me with 2 more trading days in the qualifications, which should be accomplished next week.
Good Trading,
David M. Knight
TradeCraze
P.S. TopStepTrader Live Funded Trader Summary:
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.
