TST 30K Combine

TST 30K Combine Day 4 August 25 2016

TST 30K Combine Day 4 August 25 2016

During my crude oil day trading, I had 6 trades for a total loss of 38 ticks. But what I did was create what I like to call a negative bank of minus 15 ticks.

See below for an explanation of the negative and positive bank explanation the way I interpret it.

Futures Crude Oil Day Trading Summary Video:
Futures Crude Oil Day Trading Classroom Video:
 

(Trade of the day at the 39 minute mark)

Futures Crude Oil Day Trading Charts: Day 3 TST 30K Combine Summary

Futures Crude Oil Day Trading Charts: TieBreaker Scenario

Futures Crude Oil Day Trading Charts: TieBreaker Short Trade Entry

Futures Crude Oil Day Trading Charts: Going Up, Down, Sideways?

TST 30K Combine Day 4:

In summary today, it was not my best day to be a day trader. I had an opportunity to finish my trading session only down 13 ticks, but I allowed my pride to get in the way and lose another 25 ticks on top.

In other words, I created a negative bank of minus 25 ticks. But I had a positive bank of plus 10 ticks.

What are you talking about Willis?

The negative bank is made up from where I should have stopped minus 13 ticks to where I did stop minus 38 ticks. Or a difference of minus 25 ticks …

The positive bank is made up from where I used to stop minus 48 ticks to where I did stop minus 38 ticks. Or a difference of plus 10 ticks …

So …

Minus 25 ticks Plus 10 Ticks equals Minus 15 ticks. This is my net effect of the negative bank that I created in my trading account.

In other words, pride goes before the fall can be translated out to minus 15 ticks or the negative bank balance that I will need to “make-up” during my next few trading sessions. We will go over how to do exactly this in another chat …

Until next time …

 

Good Trading,

David M. Knight
TradeCraze

P.S. Crude Oil Day Trading Strategy get it here!

 

 

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.