TST 30K Combine

TST 30K Combine Day 12 September 8 2016

TST 30K Combine Day 12

I threw in the towel on this TST 30K Combine today. The answer lies in taking less on your losses on the combine. I have figured that number to be around minus 20 to minus 30 ticks on a trading session and shutting down for the trading day.

What I have seen is that most of my losing trading days I average 15 to 20 ticks more than I should allow myself. To be able to recognize when you are off and shutting down and not pressing so hard to “get it back” …

Sure you have days where you turn it around, but more times than not for every day I turn it around I produce 2 to 3 that don’t. I believe the answer is being able to except a lot less on a losing day. The key point against max daily loss is to be between minus 20 to minus 30 ticks per day and shut it down.

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

Futures Crude Oil Day Trading Charts:

TST 30K Combine Day 12

To sum it up … pride goes before the fall. There was some good times, but way too many bad times to pass this combine this time around. Obviously, if I would have done things a little differently, then I can see where I would have passed this combine inside 10 trading days.

I suppose I really threw in the towel on Tuesday of this week. My profit objective on the combine is to be above 1500 at minimum in 10 trading days. Ideally, I want to be above 2000 inside 10 trading days.

I am not making excuses. I know what I need to do to get better. I must be willing to take less on my losing days and allow myself to take more out of the market on my winning days. I can see several different scenarios where I would have passed inside of 10 trading days.

Anyway, I now know why I don’t run a live trading room anymore. It was a good experience for me to put it together and I hope you learned something from it.

So …

To pass the TST 30K Combine:

  • Stay between minus 20 to 30 ticks on any losing day!
  • If you have a day over $1K in Wins make sure you take it trading one contract!
  • Shut the platform physically down when you get to the minus target!
  • Tread water waiting for a decisive breakout.
  • Do not trade into LOW Volatility it will eat you up!

I suppose I could come up with a lot more stuff, but if you do take the time to watch the end of the Wistia Video, then you will see how I have passed into Funded and what I have done to get there.

Obviously, I didn’t pass the combine this time around, but one thing is for sure I will continue to improve myself as a day trader in the crude oil market.

So …

What doesn’t kill us only makes us stronger … Live to Fight (Trade) Another Day!

See you on the other side of funded!

 

Good Trading and God Bless,

David M. Knight
TradeCraze

P.S. CLPIT Strategy (My Favorite Trading Strategy in the Crude Oil Futures Market)

 

 

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.