The market didn't cooperate today with our Performance Coaches, John Hoagland and Danny Hodgman. Despite sticking to their trading strategy while trading in a $50K Trading Combine®, they got whipsawed in Crude Oil ($CLV7) and took a one-tick loss in Treasury Bonds ($ZBZ7) before reaching their personal daily loss limit of $500 (the $50K Trading Combine's Daily Loss Limit is $1,000).
(If you haven't yet listened to them talk about their strategy, view that first here.)
Where'd things go sideways? Let's take a look.
After yesterday's run-up in Crude Oil and the gap higher in the morning, the Performance Coaches felt that there would be a continuation higher with another trend day. Instead, it became a range-trading day - where the price of Crude Oil fluctuated widely within a $0.64 range. That made it challenging when trading with a small, $0.15 stop.
Even though the coaches are in the midst of a $637.01 drawdown at the moment, they're going to continue to trade in a disciplined fashion. With a 2:1 risk-to-reward ratio, they can recap their losses with two successful trades.
This would be the time when any trader's discipline and mental acuity are tested. So it's going to be a great time to follow along with how they handle the pressure.
Here are the specific trades, which we report on Twitter shortly after the Performance Coaching team enters them:
Total performance for the day, including fees and commissions: - $539.65. Balance is $49,362.99. For more, check out their Trading Combine dashboard below.
Want to join them in a Trading Combine? Click on the link below.