FTP

FTP Day 4 Minus 2 Ticks Overall

FTP Day 4 Minus 2 Ticks Overall

Here is what I know … I can risk from 747.44 to 500.00 or roughly 247.44 and still pass FTP. This means I will risk 2 ticks over the next 6 trading days and pass FTP and move back to the funded account for the 3rd time.

Below are some trading charts I collected on the trading day … I am planning on more trading education and what it takes to get through the Combine and FTP at TopStepTrader soon.

This blog post could have also been entitled 38 Ticks versus 64 Ticks today.

Futures Crude Oil Day Trading Charts: TopStepTrader FTP Day 3 Trading Summary

The profit objective was hit on FTP after 3 trading days in the FTP. I am in cruise control at this point in time hoping that I can move on earlier to funded trader status.

Futures Crude Oil Day Trading Charts: CLPORT Strategy Long at 4872

To get our feet wet this was the opening trade of the morning session. This was to be long at 4872 at 8:18AM CST.

Futures Crude Oil Day Trading Charts: Hit Stop 4864 Today

First trade of the session was a loss of 8 ticks.

Futures Crude Oil Day Trading Charts: Double Top?

Futures Crude Oil Day Trading Charts: Triple Top?

Futures Crude Oil Day Trading Charts: Restart Wave Count

You have to restart the wave count … then do it … Elliot Wave Count as I see it.

Futures Crude Oil Day Trading Charts: Blue Selling Stopping Volume Short Entry 4889

Here is where I was really looking for a short entry after seeing all the blue volume (selling) bars come into the market.

We had a short signal 4889 at 8:39AM CST. This trade was either a 38 tick or 64 tick winner.

Futures Crude Oil Day Trading Charts: Moving to Breakeven

Futures Crude Oil Day Trading Charts: Profit Target Hit 1P

Futures Crude Oil Day Trading Charts: Profit Target Hit 2P

Futures Crude Oil Day Trading Charts: Another Profit Target Hit 3P

Futures Crude Oil Day Trading Charts: Profit Stop New after Some Buying Stopping Volume

Futures Crude Oil Day Trading Charts:Original Profit Stop Plus 38 Ticks

Not bad … but could I have done better? Certainly, but 38 ticks is nothing to be upset about versus the possible unknown at time of trading exit.

Futures Crude Oil Day Trading Charts: Trailing Profit Stop

Futures Crude Oil Day Trading Charts: Trailing Profit Stop

Futures Crude Oil Day Trading Charts: Trailing Profit Stop

Futures Crude Oil Day Trading Charts: Trailing Profit Stop

Futures Crude Oil Day Trading Charts: 64 VS 38 Ticks

My original profit stop was at 4851. Do you think an extra 26 ticks is worth it?

This is exactly what I am thinking right now as well. I could have exited at 4825 and used the 200 Bar SMA line plus say 5 ticks today.

Futures Crude Oil Day Trading Charts: Where Could We Go in Crude Oil?

How about us heading back towards the 200 Bar SMA on the Daily Chart? This would bring the market all the way back to the 4420 price action level.

FTP Day 4 Minus 2 Ticks Overall

So bottomline on the trading day. I took a minus 2 tick hit on my trades, because I can and still pass FTP … if I have to trade 10 trading days before getting the account reviewed. I have an email out to funding to see, if there is a possibility to start into the funded account earlier.

In any case, regardless if I get to start early or not … I am looking forward to getting back into the funded account. My motto is 3rd time is the charm!

Yes, I have been to the promised land twice and I am looking forward to getting back to it … stay above ZERO and stay on TARGET comes to mind.

With that being said, I hope you have a great weekend.

 

Good Trading,

David M. Knight
TradeCraze

P.S. How it all began for me at TopStepTrader … Click Here CLPIT Strategy!

P.S.S. Bonus Futures Day Trading Tips Series

 

 

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.