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.
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:
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.