Our Performance Coaches ended their 3-day winning streak today with a $127.22 loss. The trading day consisted of four trades - one Emini S&P 500 long, two U.S. Treasury Bond trades and a Crude Oil trade.
The three trades that were stopped out initially looked to be great trades - with one Treasury Bond trade coming within two ticks of meeting the Coaches' profit target before giving away those gains and hitting their stop. That was a $300+ swing in their balance.
But here's how they didn't let it deter them.
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Again, the Coaches tried to pick stops where they knew their trades would be proven wrong. They went long Emini S&P futures first thing in the morning with just a 1.25 point stop. Though they were 2 to 3 points in the money at one point, the stop was hit - at which point S&P 500 futures broke another 7.5 points.
Similarly, in their U.S. Treasury Bond long, the price eventually moved down another 10+ ticks below their stop.
While choosing the location of stops can be challenging, having them in place is the most important key to a trader's success. If you have been following our Performance Coaches' Trading Combine, you should realize that their ability to keep losses small has been the only thing that has kept them in the Trading Combine. Otherwise, they would have no doubt busted out of their account.
Follow us on Twitter for the latest updates in #CoachesCombine (@topsteptrader) where we post real-time throughout the day:
Performance Coaches long $ES_F at 2503.75. Stop at 2502.50. Target at 2510. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches stop hit in $ES_F long. Short $ZB_F at 153'05, stop at 153'09. Target 152'29. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches stopped out on $ZB_F short at 153'09 for 4-tick loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches long $ZB_F at 153'11 with target of 153'19. Stop 153'07. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches stopped out on $ZB_F long at 153'07 for 4-tick loss. A bit of whip-saw here. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches long $CL_F at $51.92. Stop $51.77. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Performance Coaches hop out of $CL_F long with $0.20 profit just before floor trading closed at 1:30 PM CT. #CoachesCombine
— TopstepTrader (@TopstepTrader) September 27, 2017
Total performance for the day, including fees and commissions: -$127.22. Balance is $49,434.67. For more, check out their Trading Combine dashboard below.
