Day Trading LIKE Groundhog Day

Day Trading LIKE Groundhog Day

Day Trading LIKE Groundhog Day

This is not a fun post to make … but it is necessary to do it. Control that INNER Knucklehead that causes defeat and anguish …

Stop repeating the same mistakes like the movie Groundhog Day over and over again.

YouTube Video Topstep Trader Day Trading Journal:

 

 

Futures Crude Oil Day Trading Charts:

 

Crude Oil Day Trading Commentary:

 

My mind was around and around over how best to approach a trade …

  • when to place it …
  • when to move to Breakeven (BE) …
  • how far the stop should be on the trade …
  • when to take profits …
  • how many contracts to trade …

Why is it the older I get the more it seems I don’t understand about trading?

8AM CST Trade on open trade LOST (10 ticks) … now wait for volume to show up in the trading session …

WAIT … Stop the press …

1P VS 1R … this is what I have to get my head around in my day trading the crude oil futures market.

Today this would have been a stop of 21 ticks at 7194 and an initial profit target (1P) of 7147 before moving to BE.

My open trade was 7173 and it eventually went down 3P at 7095 on the trading session.

In Fact …

The crude oil futures market went down to 7085 before going back to Pivot located at 7139 on the trading session.

Be smarter than this … go back an REREAD what you wrote on April 15th … once again … and May 15th …

May 15th Notes from Journal …

By overthinking and overmanaging the short position today I cost myself from moving forward in the combine today.

Bottom line … I am creating the losing because I am being overly cautious on a good trade that I am winning.

The market will show the way more times than not … if I will allow it to do it. This in a trading day I must learn from and stop from doing again.

$32,000 is just a number …

It’s just another number and the I must get over this number. There will be other numbers to think about … if I don’t allow myself the freedom to take on the trade and let it run its course.

Overmanaging and overthinking the market will not work in trading … YOU are better than this — God is not listening to you.

God is not listening to your prayers …

God does not listen to the prayers of the desperate in a trade … so stop it. WHAT I need to be more diligent is asking God to trade to the best of my ability each day.

To utilize the wisdom and knowledge I have in my head and trade from that standpoint.

If I pray for guidance before I commence trading this is a better approach to God, than hoping HE will grant a wish …

God is not a God of wishes and hopes …

He is the Great I AM. If I want to succeed in trading, then it’s time to put childish superstituous things like prayer in a trade away. God has never listened to me when I am desperate and stink for a win.

So be wise and knowing …

Pray before you start to do the best your ability will allow and let the pieces fall where they may from now on.

LISTEN AND LEARN from this you day trader!

 

 

Good Day Trading,

Dave Knight
TradeCraze

P.S. YouTube Video: Day Trading LIKE Groundhog Day

 

 

 

 

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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.