The Exorcism of Demons in Day Trading

The Exorcism of Your Demons in Your Day Trading

The Exorcism of Your Demons in Your Day Trading

This week has been one of the toughest week for me in my day trading in a very long time. I have been right, but wrong pretty much the whole week until today.

I know that what doesn’t kill me, only makes me stronger in the long run, but when you are in a bad losing streak … then it sure feels like the sky is falling.

Anyway, the crude oil futures market finally showed a decent setup in the morning and moved all the way back down to the Pivot Point before putting the brakes on.

Regardless, I feel a little braindead and needed some comic relief. So we had an exorcism today! Hopefully, I will be able to start to think clearer and trade better coming into next week now.

YouTube Video:
Wistia Video:


Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts: This Become the BOTTOM during the Trading Session!

What made this the bottom of the trading session? Why did it not go through here?

That’s fascinating! The better thing to do was to take the profit of at least 3P and move to the next trading day.


The Exorcism of Your Demons in Your Day Trading

You know …

Some days and weeks are just bad to be a trader. You have to be on top of your game all the time to really (play) as a day trader. When you are off, the market will punish you and find every weakness.

I am thankful right now I am in the TopStep Trader (TST) 30K Combine right now and not risking real money. I am also glad I have been able to learn from my experiences as I continue to develop my trading strategy I call VTS.

VTS stands for Volume Tick Study … with VOLUME being the keyword that makes or breaks a trade.

But …

You need to have a solid plan of battle to take on the markets. Remember the futures market does not trend more than it does trend. Certainly the awesome moves happen, but more times than not it is just a 2P to 4P kind of day as a day trader.

Bottom line … take what the market gives you.


Good Trading,

David M. Knight

P.S. It was a tough week for me … but stick to your strategy of taking more away on your wins than what you are willing to lose and allow better entries.




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.