TST 30K Combine

TST 30K Combine Day 11 September 7 2016

TST 30K Combine Day 11

Summary of my day trading session … everybody’s a critic when you are on a losing streak. It hasn’t been an easy combine to pass for me here at TopStepTrader. Yesterday, I was close to staying in the market and once again today I was very close to being able to stay in the market.

Yesterday, it was a buy and today it was a sell. I was right on both occasions, but my timing was off. I had 5 trades today for a loss of minus 47 ticks. I am back under the 30K mark on the tst combine once again.

Do I have a realistic equity curve? How would I have handled trading today if I was in funded? I would have closed the trading account and took my small gain and started again. Just exactly how I handled it last time I was in the funded account.

You get more than 10 trading days now in the combine. I am still hopeful that I will pass it either this week or next.

Futures Crude Oil Day Trading YouTube Summary:
Futures Crude Oil Day Trading Wistia Classroom:
Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

TST 30K Combine Day 11

So back to everybody is a critic. Today, I got into a debate about the pivot point. There is validity to both sides of the argument. One is the old school argument that you should only use the Regular Trading Hours to calculate out the pivot point.

The other is to use the new standard measurement of the Globex (overnights) into the calculation. Can you use both? Sure, if it doesn’t confuse you, but I would highly recommend only having one study on your charts for the Pivot Point with its Support and Resistance numbers.

I have been in many debates on this subject over the last 5 years or so since the Globex is becoming more and more the standard at what the Crude Oil Market actually trades.

Here is the issue … if you use only the Regular Trading Hours to calculate out the pivot point then you are ignoring the rest of the world and what it does in the trading day.

Is the USA trading day still the most important time period? Yes, but not like it was 5 years ago. Just look at what use to be the PIT for any of the markets and where are all the PIT Traders?

Well a lot of them are trying to sell you something based on outdated stuff that doesn’t work anymore!

Is there still validity to the old way of doing things? Sure, if you like to be the old dog that doesn’t like change, then continue doing it that way. What I understand more and more is that the overnights in the Crude Oil Market continue to get stronger and stronger.

In other words, for every time you say this is the point the market turns around I can find another point that it doesn’t based on your logic of only using the Regular Trading Hours to justify what you are trying to accomplish.

I suppose my point is pick one and stick to it. I continue to choose the overnights as the standard where the Crude Oil Market continues to gravitate towards.

When I notice that people debate is when the market does what they think it should have done. Well, over the last couple of days … the way I see it there was a big fight at the Globex Pivot Point and not the other way around.

Did I get caught before it moved?

Certainly …

That is what makes a trader dynamic … willing to change to what the market is truly doing as opposed to being a stick in the mud and unwilling to change. Sure, I ran out of ammo over the last couple of days before it moved in the direction I thought it was demonstrating it wanted to go based on my own volume studies.

What I have learned in trading is this … everyone is a critic and has an opinion. Learn what works for you. I decided a few years ago I would stick to my guns and use the Globex as the standard to measure the Pivot Point.

Obviously, it is a point that is still highly contested as we see being played out in the markets. Perhaps, the answer lies in knowing where both is located on each day. Things that make you go hummm…

Do I know where the other point is located? Sure, why would I not, if I have decided to take on the Globex as my Pivot Point.

Is it a point to be debated? Sure, the Pivot Point will continue to be debated about which standard to use. It is my honest belief the overnight market (Globex) will continue year in and year out to strengthen as the world participates more and more in trading around the world and not simply isolated to what America says as a standard …

So the debate continues on … who is right? Well, it really depends on the trading day in question, doesn’t it?

Enough said.


Good Trading,

David M. Knight

P.S. To Each His Own: CLPIT Strategy will be traded tomorrow!


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.