TST 30K Combine

TST Trading Day 5 Back to the Drawing Board

TST Trading Day 5

Today day trading the crude oil futures market I had 3 trades for a net loss of minus 28 ticks. The market was not cooperating for the trend trader today.

I stayed within minus 20 to 30 ticks today according to my trading plan. I am only willing to give the market no more than minus 30 ticks on any losing trading day.

I believe I can recover from any minus 30 tick day, but it gets hairy when I go past that level. To sum it up I finish the week up. The TST 30K Combine is showing a positive balance of $602 and change as of the close of today.

This means I am roughly $900 away from the $1500 level, which could be achieved currently with 2 … 3P winning trades.

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 Trading Day 5

Today, being a trend trader and looking for a trade setup was not to be on quad witching day today. The trade out of the trading range that was established did not break out until after I had accumulated 3 trading losses.

As I am typing this I see the market moving up and above the 4381 level. This was the first time the crude oil futures market showed any signs of life as it moved to a 1P Profit Target.

Futures Crude Oil Day Trading Charts:

You can make the best trading plan ever … but if the market doesn’t want to move … then it is still a losing trading day. One of the things I have been debated upon is making the market run a 1P profit target before looking at the market to trade in a range bound day.

The jury is still out on this observation. So, if I expect the market to move 3P in any given trading day and I wait for a 1P move, then I am looking to achieve a 2P move for a profit objective.

Today, was a tough trading day as options and futures are expiring. I believe I did the best I could with the information that was placed in front of me at the time I was trading during the day trading session.

Some days simply don’t work out. I believe I can make up any minus 30 tick losing day … so sticking to my guns and keeping my ammo dry is the thing to do when you are right … but wrong on time.

Have a great weekend.


Good Trading,

David M. Knight

P.S. Do you have a Risk Management Plan? No, then go 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.