Back to the Drawing Board

TST Trading Day 1 Back to the Drawing Board

TST Trading Day 1: Back to the Drawing Board

Today, I was able to start my TST 30K Combine on a positive note. I had a net of 7 trades for a total of 49 ticks. Finally was able to catch a breakout trade inside a trending day getting myself turned in the right direction.

It is not about the direction of the ship, but the setting of the sails … I remember that quote from Jim Rohn. Sometimes in life, you simply have to take a step back … figure out what is working and throw out the stuff that is not!

Futures Crude Oil Day Trading YouTube Video Summary:
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:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

TST Trading Day 1: Back to the Drawing Board

So …

My trading goal is to start with a series of 2 contracts. If the first trade loses, then shutting it down on the trading day. Also, stop trading when I get to between minus 20 to 30 ticks in losses during the trading session (day).

Do my best to maximize out my winning trading days to make up for the small losses that will happen. In addition, be very diligent on the opening trade and allow for a small gain to keep me in the game a little longer if the opening trade does not workout.

In other words, be completely fine with a breakeven opening trade. Then after the first trade, go back to trading one contract if I have a gain to work with during the trading session.

That will just about do it on my day trading session today. Once again, I net 49 ticks on 7 trades day trading today.

 

Good Trading,

David M. Knight

P.S. Risk Management – Trade Management – Money Management … Do you have a trading plan for it?

P.S.S. TST 30K Trading Account Summary:

 

 

 

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.