Day Trading

Day Trading Back IN the Saddle

October 4th, 2017: Wednesday

Hello Traders,

It’s been a while … but I am slowly working my way back into trading after taking the last 6 months off from day trading.

Where do I start … the last time you and I chatted I was a funded trader at TST (TopStepTrader). After giving it a lot of thought and deliberation, I decided to go back to TST once again and get back into the TST Combine.

 

Today was my first day back to day trading … so HOW did I do? Let’s find out …

Do YOU recognize this Day Trading Strategy? If you said … CLPIT Strategy … yes … you are correct!

Honestly, yesterday I was a little worried. I always feel that way when I get back into day trading after taking time off …

BUT …

It was just like riding a bike … truly it was a simple trade with no pressure.

The harder part was getting back into my blog and doing this post today. HAHA!

Also, recording myself and putting it up on YouTube. By the way, YES I know a lot of my product links don’t work. I stopped just about all of my day trading activity and also stopped paying InfusionSoft $100 a month for a service I don’t use.

Will I put something back UP? I don’t know … right now. But I will say my bread and butter trade always to restart my day trading is the CLPIT Strategy.

So what was I up to … I did Insurance for a while and found it to be boring and too time consuming. I always try to keep myself busy on my time away from trading. I believe I will continue to do seminars, but I will not set appointments for individual “leads” ever again.

It was nothing personal … but I dealt with a bunch of dead beats that couldn’t afford to tie their shoes.

So … the trade went down to 2P before taking me out at a little below breakeven today on entry. I was able to take away 14 ticks on 2 trades today.

Here are my day trading journal notes on the day trading day …

First day back at day trading since March 23rd, 2017 I believe. This was when I was last in the TST Funded Trader Account at TopStepTrader.

Why?

I picked the CLPIT Strategy to start my day trading activity, because it is my best overall day trading strategy … I have in my traders toolbox.

At 9:30AM CST, there was a HIGH BBV HVS SKY Blue Bar of 4381. I went short at 9:35AM CST on 2 contracts. The first one at 5057 and the second at 5056 on my day trading session.

At 10:10AM CST, I went to breakeven on the total trade. I was day trading 2 contracts since we are well below the 2.0 ADR figure I look at on my day trading spreadsheet.

In fact, today the ADR was 1.10 overall. What this is telling me is over the last 9 day trading days as an overall the crude oil market has been rather quiet.

HOW DO I POSSIBLY KNOW THAT …

Ah, that’s an ancient Chinese secret … well not really … but my day trading experience and doing what I do the way I do it has told me this is the truth. Because, my day trading spreadsheet goes back over the last 9 day trading days and determines this figure and spits it out.

What I know is anything under 1.5 ADR is a pretty quiet market as an overall.

My day trading rules …

Have served me well over the day trading years … as long as I am WISE enough to follow them! What I know about day trading is I am very HUMBLE … and this is a good thing.

 

Good Trading,

Dave Knight
TradeCraze

P.S. I should update my BIO … it’s been 30 years now as a trader.

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TradeCraze
SOHK - School of Hard Knocks at David M. Knight
I am a 25 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.
About The Author

TradeCraze

I am a 25 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.