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 $2,000 max loss. They took four shots at the market; unfortunately, all of their trades were stopped out given their close stops.
Today's trading did make the Performance Coaches realize one fact: they haven't been setting a comprehensive plan together in the morning about what they'll do when the market gets to certain levels. Before Wednesday's trading, they will clarify their plan together.
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The Performance Coaches took three shots at Crude Oil ($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 stopped out of $ZB_F long at 154'07 for 5-tick loss. $156.25 loss on the trade.— 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.