Why Would Anyone Day Trade?

Hello Traders,

Day TradeI have decided to go very low key … why … well why not … in any case since this is my blog showcasing trades I like … I put up information for me just as much as I do for you. ๐Ÿ™‚

There were 4 possible trades on the trading crude oil today. The first trade below was a long. Be back with more commentary a little later today.

Commentary on trading … this was a day when I turned on the computer we were trading at the pivot point. On the hourly chart you could see an obvious line of resistance on the 200 DAY MA line. This was my trade I made before I had to go for my appointment.

Looking at the rest of the trading day … it looks that it was an easy decision to get long and to be able to stay long for most of the day … with that being said … how does anyone know what they will do if they don’t actually do it??

So what I know is I traded for a small gain today. I turned my account balance green and I have an 80% Winning Percentage at this point in time. This is simply just stating facts. Facts by themselves are meaningless so only time will tell in this game of life I call day trading for a living.

Trading Day: September 4th, 2014

 

Trade 2: Long

 

Trade 3: Short

Trade 4: Long

 

Trade from Right EdgeWhat I have learned about trading over the years is it is always easy to find where you would buy or sell given a chart that has already been filled out … but it is a much tougher game when you have to trade from the right edge of the chart before the facts are known …

This is what we call pure speculation. It really appealed to me when I was a young whipper snapper … now not as much. To have knowledge in your head then placing into an environment where you have to be on top of your game all the time.

Now trading to win … win more than lose … win more than drawdown … or simply just to win. For a long time I used to judge myself by my wins. If I won, then I was a good person. But if I lost, then I was a loser. This is where most of my issues from my childhood would creep into my day trading.

So my advice for what it is worth and the 2 cents on the soapbox … know yourself and to yourself be true.

Now I have said on record now on several occasions … trading is not a choice I would make for my career choice if I had it to do over again. I have given too much to learn what I know now.

But now that I know it … I hope I have enough time to profit from it to be able to accomplish what I need to do with what is left with the rest of my life.

It is a strange feeling to know you know what you are doing … no doubts. Just pure statistics and trading from the right edge with your trading edge!!

 

Good Trading,

David AKA Tiger

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.