FTP Day 4: Trading is NOT a Video Game

Friday: September 4th, 2015

FTP Day #4: Funded Trader Preparation

In today’s trading, I decided to try out the employment trade on this Friday. It turned out to be a loss of 21 ticks. I was just stopped out on the 1/2R stop loss before it went down to 1P profit target. But a loss is a loss.

My 2nd trade of the morning is the CLPORT Method … which in actuality turns out to be an LVL HVS 700 bracket trade. I went long after the CL Open Outcry … after the 5 minutes of the opening range I was long at 4612 at 8:07AM CST.

The stop loss originally on the trade was located at 4591. After we reached 1P on the trade, and my first trade being a loss, this trade went to breakeven after running the 1P profit target at 4659 at 8:10AM CST.

We have not crossed above the settlement price of 4675 or the pivot point at 4692 on this trade. Best to be safe than sorry I always say!!

If this market is to have any strength today, it must get above the pivot point very soon!!!

Not a very disciplined trading day for me … DO NOT TRADE EARLY! Wait for the CL Open then trade …. there is no reason to rush my trading no matter how bad I want to do it.

I gave up some profit today … there is no need to trade. I had the winning day in the bank but I traded early and this set off the trading day in the wrong direction overall.

I am not real proud of myself and my trading today. Now, I have to wait till Tuesday to get it going again. The good news is I have a big gain overall and only gave back a small portion of it. So let that by that and finish this trading combine successfully and move to the next stage.

If I come out of my trader discipline, then I place too much risk on the trading … and I AM not that good when I come out of my trading plan and “try” things out.


Good Trading and God Bless,

David M. Knight

P.S. I allowed my trading bias thinking the market should fall before labor day … I entered early into a trade before the cl open outcry and paid for my stupidity by allowing a trading loss over 43 ticks plus commission today. I was closing in on my daily max daily loss so I had to physically SHUT down the trading station to stop me from “trying to get it back! This NEVER EVER works in the longrun!! ANd I know better to boot. I got COCKY and today I paid the price for my stupidity.

P.S.S. TST Trading Statement (FTP) after 3 Days: (Also Trading Account High Now)




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.