Friday, December 9, 2011
Wednesday, December 7, 2011
December 7th, 2011: A Nice Comeback Trading Day Today
Hello Traders,Today marked a nice comeback on my trading account. I felt at ease and relaxed for the first time in over 4 years. I have made a lot of strides as a trader by running a live trading room over this time period. It was a nice experience to simply have some music on and me and my thoughts on trading without having to talk about them.
I have decided to upload this trading day with all supporting documentation to Rapid Share for your review at your leisure. It's good to be back to my natural more private environment. I forgot just how much I like my privacy as a trader.
If you are a life time member of the Knights of the Round Table please feel free to contact me, I have not gone away just going to a more private environment. We will figure out a way to get you trained. This is my total commitment to your overall success as a trader.
I am thinking private one on one coaching calls right now with my charts and set you up, etc. You will notice that I have held a lot back from the trading room environment because I didn't want people to know all my trading secrets.
Good Trading,
David 'Tiger' Knight
P.S. Download Links for Today's Trading:
Trading Video: https://rapidshare.com/files/1578256925/7_December_2011_TCB_Crude_Oil_Live_Trading.mp4
Notes on Today's Tiger Trading:
Charts:
Tuesday, December 6, 2011
Beware PROS at WORK!
Hello Trader,
This trading chart is from November 28th, 2011 ... beware PROS at WORK!! When you see a volume spike ... it will look like a skyscraper as tall as the Sears Tower in Chicago! They can't hide this kind of Volume from Smart Traders that are looking for it.
David
Pro Money at Work! This is what I was fighting on my short!
Dear Trader,
As I move from being a paid service, back to a free service that simply gives trading advice without charging for it. Here is a chart that I found interesting the other day ... it sent me on a search to figure out what was going on.
I know about the "smart money" and the "Pros" at work, but here clear as day is the PROS coming into the market with the high volume spike bar.
Do you think they want to see the market go under $100 per barrel now? It will be a fight from this point forward until we see a high spike bar on the other side to match this kind of spike in volume.
Good Trading,
David 'Tiger' Knight
Monday, December 5, 2011
Could this be a Coincidence? I THINK NOT!!
Hello Traders,
Sometimes the best laid plans are for naught … you can have the right trade setup, and the proper entry signal. You can be trading with the overall trend of the market. In other words, all GREEN lights are GREEN, and still find yourself at a loss on the trade.
There is nothing wrong with your trading strategy. What this means, is you are either wrong in the timing of the trade, or simply wrong about your trading decision. More times than not, you will find yourself on the wrong side of the trade, because your timing was off, than simply wrong about the direction of the overall trend.
The market has a way of doing whatever it wants to do. What we can do as traders is simply go with the overall odds, and keep us in the game. We never want to risk everything we have on any given trade.
As a small account trader, your number one job is always the same … it’s about SURVIVAL! Did I trade poorly today? Was I the GREATER FOOL? Why?
The market operates under the premise of the GREATER FOOL theory. Any financial instrument is only worth what a person is willing to pay for it, or lack thereof. As I think about my trading today, where I was able to trade 2 contracts, but lost on both trades to the tune of $1,604. What made me think for any part of the day that I was smarter than the market?
Terms from Richard Wyckoff … Jumping the CREEK and Coming Back to ICE! I NEED to be aware at all times as a day trader to determine the CREEK and where to determine the ICE! This is a trading concept that will not take any more of my money. I should have a tight stop in place when the market is breaking out to NEW HIGHS or NEW LOWS.
I need to make sure and determine for my own eyes the market is making HIGHER HIGHS for a LONG position. On the contrary, I need to determine with my own eyes the market is making LOWER LOWS for a SHORT position.
If the market is in the middle, then I should have my stop a lot closer to the market. I had a lot of time to get out of the market today at the 102.17 level after it failed, and I should not have entered again as it was approaching the CREEK … in this case the CREEK was the Previous Day High … that could have become ICE if held … or simply a barrier to LOWER PRICES if it did not HOLD.
Today I was the GREATER FOOL! Never again will this happen in my trading!!
Good Trading,
David 'Tiger' Knight
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