The Performance Coaches lost $180 today, with the bulk of that coming on a 4-tick loss in the U.S. Treasury Bond. The Coaches also had a minor loss on a Emini S&P 500 trade and a minor gain on a Crude Oil trade. All in all, though the market didn't move the way that they anticipated it would, the Coaches took solid trades that just didn't work out. Faced with the same information, they would have made the same trades 99 times out of 100.
Here's why.
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The first trade of the day was to short U.S. Treasury Bonds ($ZBZ7) at a key resistance point. The market ended up running higher and taking out the stop, but if you place an order at an inflection point, it doesn't guarantee that your trade will work out. Luckily for the Coaches, they knew they were wrong quickly; the trade only lasted less than two minutes before hitting their stop.
Following that trade, the Coaches entered Emini S&P 500 ($ESZ7) and Crude Oil ($CLX7) shorts. In both of these trades, they used rejection near recent highs as reasons to enter the trades.
$ESZ7 and $CLX7 shown on the commission-free TSTrader platform.
As the charts above show, both positions immediately moved in their direction - with the S&P trading down to its lows of the session and Crude Oil coming off its highs. However, those initial gains did not hit the Coaches' targets (8 points in the S&P and $0.30 in Crude Oil).
As the day progressed, the trades moved against the Coaches, ultimately eroding all of the unrealized gains. The Coaches moved down their initial stops, taking a 1.5 point loss on the Emini S&P position and a $0.03 gain on Crude Oil. Here's what they were looking at.
Here's how we reported the trades on Twitter (@topsteptrader) using #CoachesCombine:
Performance Coaches shorted $ZB_F at 152'11. Out at 152'15 for a 4-tick loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 10, 2017
Performance Coaches short $ES_F at 2547.25; stop at 2550.25. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 10, 2017
Performance Coaches short $CL_F at $50.96 with stop at $51.10. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 10, 2017
Performance Coaches move $CL_F short stop to break even $50.96 for the close. Risk free trade $100 in the money #CoachesCombine
— TopstepTrader (@TopstepTrader) October 10, 2017
Performance Coaches out of trades. $CL_F out at $50.93. $ES_F out at 2548.75. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 10, 2017
Total performance for the day, including fees and commissions: -$181.04. Balance is $49,040.93. For more, check out their Trading Combine dashboard below.
