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Our Performance Coaches' $50K Trading Combine® took a hit today - with the Coaches losing $439.72, inclusive of fees and commissions. That drops their account balance to $49,215.08, but leaves them plenty of room to right the ship before coming close to the $2,000 max loss. They took four shots at the market; unfortunately, all of their trades were stopped out given their close stops.
Today's trading did make the Performance Coaches realize one fact: they haven't been setting a comprehensive plan together in the morning about what they'll do when the market gets to certain levels. Before Wednesday's trading, they will clarify their plan together.
Want to join them in a Trading Combine?
The Performance Coaches took three shots at Crude Oil ($CLX7) on the long side and one shot at the 30-Year Treasury Bond ($ZBZ7) on the long side as well.
The Performance Coaches always set stops with their trades. They allow themselves the opportunity to exit a trade early (which they did with the Crude long from $50.02), but they will not move any stops lower. They understand that you can always get back in a position. But while you're in a position, you are going to be biased - and your thinking is impacted. If you allow yourself to move a stop, you will not gain a clear head.
With tight stops of no more than $150, the Coaches made sure that each trade was defined from a risk/reward perspective before the trade. Unfortunately, the market did not cooperate.
Here are the trades on a 15-minute delay as we reported them on Twitter. Make sure you follow us for all the latest updates in #CoachesCombine (@topsteptrader):
Performance Coaches went long $CL_F at $50.70 on a strong open. Stopped out quickly at $50.58 for a $120 loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches long $ZB_F at 154'12. Stop at 154'08. Target at 154'20. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches stopped out of $ZB_F long at 154'07 for 5-tick loss. $156.25 loss on the trade.
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches taking another $CL_F long at $50.30. Stop at $50.20. Target at $50.60 - with option to move higher. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches stopped out of $CL_F long for $100 loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches long $CL_F again at $50.02. Stop at $49.87. Profit target flexible. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Performance Coaches closed out $CL_F long at $49.95 for $70 loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 19, 2017
Total performance for the day, including fees and commissions: -$439.72. Balance is $49,215.08. For more, check out their Trading Combine dashboard below.
