Dogfight in Trading – Trend Channel Breakout

Hello Traders,

I had to use just about all my trading tools in my toolbox today to make it a positive trading day.  I employed the Trend Channel Breakout off the Lower Bollinger Band during my trading day going for the UADR and the PDH.

April 11th, 2012:  200 Trades Chart

Lucky than Good

Is it Better to be Lucky or Good?

Some days it is better to be lucky than good?

I am not so sure one is better than the other, but I would say if you are trading according to your trading plan, then sometimes you will get lucky as a trader.

I am not much of a person for luck in trading, but I do feel as though you can create your own luck.

What exactly does this mean to you?

If you are trading without a plan, then you are dooming yourself to failure.  You would be better off going to the local casino, ordering a couple of drinks, and playing a game of chance.

On the other hand, if your trading plan allows you to think out of the box, and be observant of what is going on around you, then you may find opportunities arise that simply feel good.

This ‘feel good’ is your intuition, and I would argue with you not to ignore it.

In today’s trading, I was able to turn my trading day around and finish up 13 ticks overall coming into Thursday.

 

Good Trading,

David ‘Tiger’ Knight

P.S.  April 11th, 2012:  Trading Statement

 

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.