The Performance Coaches caught a strong rebound in Crude Oil ($CLX7) today - netting them more than $270 in profits on the day. After today, their balance is $49,661.49, down just $338.51 on their Trading Combine®.
Though they are down on the Trading Combine, they have gained more than $1,000 off their lows having finally caught their stride. They've honed in primarily on one market - Crude Oil - and are working as a team.
Here's how they identified today's trades, one a loss of $120 and one a gain of $400.
Here's the Crude Oil chart from today on a 15-minute timeframe with volume on the bottom axis.
The first trade the Coaches entered was to go long Crude Oil at yesterday's U.S. session lows of $51.63 (the red arrow in the chart above). With a tight 12-cent stop, the position first moved in their favor before the support gave way and the price continued to fall.
Then, about an hour later, the price moved to its daily lows. But the Coaches saw that move happened on declining volume (highlighted by the red line). As the price rebounded, they entered another long at $51.42. The Coaches felt comfortable putting a stop above the daily low because if price moved to test that again, they expected downward pressure to intensify.
Turns out that this was the right call, and the price rebounded. They more than recouped the earlier loss and are one positive day away from being break even on the account.
If you want to follow the Coaches' trades on Twitter (@topsteptrader), you can use #CoachesCombine. Here's how we reported them today.
Total performance for the day, including fees and commissions: $272.64. Balance is $49,661.49. For more, check out their Trading Combine dashboard below.