Placing Blame Belongs Day Trading

Placing Blame Where It Belongs In Day Trading

Placing Blame Where It Belongs In Day Trading

Collection of my Trading Thoughts Today:

TradeCraze[09:25 am] : WILT: There are rules, then there are rules … some are you own and others are set by those that have the gold. This makes it hard to trade when restrictions are placed on my trading here. (WILT means What I Learned Today)

TradeCraze[10:23 am] : Best/Worst: Best: I had a good talk with a trading friend today that talked me off the cliff. Worst: I placed myself the eight ball in the corner and have added undue pressure on my trading in the funded account.

Placing Blame Where It Belongs In Day Trading

TradeCraze[10:26 am] : Daily Goal: Take this time off to regroup and to get my emotions in check. There will be no live funded trading until after the 4th now for me. I have allowed 5 trading days to slip by in the funded account. I basically have only 4 trading days left to get well above the zero mark. It is tough to say but I need to regroup.

Placing Blame Where It Belongs In Day Trading

TradeCraze[10:41 am] : Challenge In: There is more to the story than my own trading … seek to understand that it is not personal when restrictions are placed on trading from TST in the funded account. Even though, I feel it … this also means I have became emotional in my trading. Understand when this happens it is better to walk away than to fight upstream without a paddle.

TradeCraze[10:43 am] : Challenge Out: Remember the mower story and what I can control … the only thing I can control is my order entry and order exit. If I allow my emotions to overrule my trading, then I am no better than the gambler pulling the slot machine handle and drinking a rum and coke while smoking a cigarette in my mouth … I have allowed the gambler that resides in me to win. Do not allow this again!

 

Good Trading,

David M. Knight
TradeCraze

P.S. I have went from a High of $510 down to a swing low of $(430) after 5 trading days. My max drawdown on the funded account is $(990).

 

 

 

 

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.