September 28th, 2012: High Hopes – Mountains and Valleys

Hello Traders,

This was a very short month for me to trade live, but it was a month I will never forget.

I experienced my worse ever one day trading loss as a day trader, when I lost discipline and gave the market $5,000 of my trading account.

In fact, I experienced my worse ever draw down as an individual trader between Thursday, September 20th to Wednesday, September 26th, 2012.

One key element came out of this draw down, and that was the concept of a trigger.

What does TRIGGER mean to me?

A reason to start looking to enter into a trade.  An event or signal to look for an entry into the market.

This “trigger” for me shows itself normally on the right edge of the chart in the form of Tick Volume.

If you jump a market without any reason to being in, then in my humble opinion, from my trading experience you are merely gambling.  I use to call the ‘trigger’ the edge we have as a trader.  They are one in the same … the trigger is your edge.

As I start to plan my trading for the month of October, I know I have been granted a reprieve and a trading gift in the form of looking at the right edge normally for the ‘trigger’ to signal a possible entry into a trade.

Crude Oil:  89 Tick Chart – Trigger


Good Continued Trading,

David ‘Tiger’ Knight

 P.S.  “Rejoice in our confident hope.  Be patient in trouble, and keep on praying.” – Romans 12:2, NLT


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.