Ummmm... If you Want the knife thingy to follow the character you should code this in the knife blueprint:
When this is created,
Repeat every 0.01 secs,
Modify this actor x position to creator(character)'s x position+1,
Modify this actor y position to creator: y position.
An then you delete the old script that just deletes the knife If it gets out of screen.
And add this code to the character:
When this is created,
Create blueprint knife