The Performance Coaches reentered the markets today with four trades - going short the S&P 500 ($ESZ7) twice and short Crude Oil ($CLZ7) twice. On their first attempts, both trades were stopped out for losers, before making back much of the money on the second go around. Overall, the Coaches gave back $47.22 to the market today. Their current balance is $50,544.21.
Here's what you can learn from the Coaches' trading today.
Can you earn a Funded Account® with $30,000 to $150,000 of OUR money?
The Coaches always have a stop when they enter the trade. The stop is typically set at what they estimate will be a point of failure on the trade - or a level that would disprove their trading thesis. But they're not always right about their levels. And when they're wrong, they're not shy about getting back into a trade.
Today, we saw that twice. The Performance Coaches first shorted the S&P at 2572.25 with a stop at 2574.25 and a target at 2568.25. The price immediately moved in their favor, before bouncing and hitting their stop. When the price failed to move much higher, the Coaches thought that it might trend back down to settlement. Ultimately, that didn't happen, but the price did move 1.5 points lower by the time they closed the trade.
On the second trade, the same thing happened in Crude Oil. As the price approached the Weekly Kickoff high (a level that Hoag identifies in his Weekly Kickoff email) as being significant, the Coaches took a short with a standard $0.15 stop. That was quickly hit, but the price appeared to not move much higher from there, causing the Coaches to reinitiate their short. That proved profitable, giving them $0.13 profits - roughly wiping out their loss from the first short.
All of this goes to show that you can get back into a trade if you get stopped out. But in both instances, the Coaches waited for confirmation that their initial trade thesis wasn't wrong before reestablishing the position.
If you want to follow the Coaches' trades on Twitter (@topsteptrader), you can use #CoachesCombine. Here's how we reported them today.
Performance Coaches short $ES_F at 2572.25. Stop at 2574. Target at 2568.25. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
Performance Coaches stopped out on short $ES_F for $87.50 loss. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
Performance Coaches short $ES_F at 2573.75 again. Stop at 2575.75. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
Performance Coaches short $CL_F at $54.42. Stop at $54.57. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
Performance Coaches stopped on $CL_F short for $150 loss. Go short again at $54.48, stop at $54.60. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
Performance Coaches closed out $ES_F short at 2572.25 for $75 profit. #CoachesCombine
— TopstepTrader (@TopstepTrader) October 31, 2017
As a reminder, trades are not recommendations and we do delay the Twitter feed by 15 minutes.
Total performance for the day, including fees and commissions: -$47.22. Balance is $50,544.21. For more, check out their Trading Combine dashboard below.