I know there are many threads for this but I am seeking specific help.  I just received this tree and will be growing in smallish pot around 5 to 7 gal. in the end.  I think I want it open centered and smallish.  Also I want to give the large part of the cutting to my sister as a house worming gift I can.

The tree is 40" tall with one small branch at about 20" and a number more at the top.  I am thinking of cutting the tree at about 22" with 2 nodes above the small branch in yellow circle.  From what I gather new growth branches should form from the nodes below the cut (where other branches have been cut off flush with the trunk).   Then I can start choosing which ones to keep and shape from there.  Is this correct?  I am also wondering if I can root the top half that I cut off and what should be the success rate for this.  I am also thinking of cutting two small branches marked in red and trying to propagate them also as they are growing at a very tight angle with the center.  The peaces marked with a black x will be discarded as they look damaged and not viable.

Is this reasonable, doable or am I all wet?

Thanks

I assume at least once per week you're all wet and Saturday is a popular day for that so I don't know if you're all wet at this moment or not.

The photo is too blurry to be sure but it looks like you've identified the nodes correctly.  That tiny branch may die over the winter so 2 nodes above is a good idea.  Some people seal the cuts with wax, wood glue or liquid electrical tape.

The only really bad thing you've listed is throwing away live wood.  Charlie could probably make 3 plants from each branch that you've condemned to death.  Shame on you!   :)   You can give those plants to friends, sell them or trade them here.  The only things you shouldn't root are the stake, the 'soil' and the pot itself. 

All the FIGS!     (Also be sure to read the first 2 listed on the right)

Thanks for the input.  By the way the wood I am chucking is not viable.  Do I start rooting now or wait until spring?

Hi mazehavoc,
Where will you store your pot for the winter ?
Is that the 5 gallon pot in the photo ? Looks more like 1 or 2 gallons ...
Did you just buy the tree now ?
Is dirt missing at the top of the pot ? ( roots may dessicate ).
Are you in a rush to propagate that tree ?

A fig tree that you just bought potted in a small pot is more likely to be in poor condition.
It will take a season of decent cares to recover.

I would asap pot to 4/5 gallons now for the tree to have more dirt to protect the roots during the winter. I don't like the look of the top of the pot ... but could be from pic .
Come next March, I would cut as you plan ... Although I would make it different.
My way would be to cut at 2' or 3' (3' for me) and remove all lateral stems.
That will force the tree to push several stems together come next season. You would then let 3 or 4 ideally spaced, from each other, grow.
That would be the new canopy.
If you leave an older side branch, it will either pump all the sap and become the next trunk, or be abandoned or get less sap and become a weak stem.
You could cut now and root now. You just need the appropriate space to do that regarding light, humidity and heat.
Good luck!