Performance Coaches +$325 on the Week in their Trading Combine Challenge

Posted by TopstepTrader on October 13, 2017

The Performance Coaches are finally hitting their stride in their Trading Combine®. This week, the Coaches added nearly $325 to their balance - their second great trading week in a row. After being down more than $1,350 at one point, the Coaches are now down just $450 in total. 

Their journey has shown the critical role that proper risk management plays in trading. They have been profitable on just 39% of trading days and 35% of trades over the 23 days they've been active in markets. But since their average winning trades are nearly 80% higher than their average losing trade, they are able to stay in the game. 

In this week's video recap, Coach Dan Hodgman talks about their overall progress, some takeaways from the week and how the Coaches are catching their stride. Check it out!

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Crude was Volatile Today: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 12, 2017

What was going on in Crude Oil ($CLX7) today? Our Performance Coaches tried to figure it out, but were stymied by the intense up and down movement. In total, they lost $187.36 on the trading session over two trades. Considering they could've easily been whipsawed back and forth, today was not a bad trading day. 

Here's the breakdown of the trades they made and how they tried to navigate a tough market.

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Cut Stops, Let Profits Run: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 11, 2017

The Performance Coaches rebounded from a two-day slide with gains of $392.64 on today. The gains came on a timely Crude Oil ($CLX7) long at $50.76, shortly before the price started a strong rally. They were able to ride that for $0.50. 

What's remarkable about that trade though is how it came just after the Performance Coaches were in a short Crude position. They shorted Crude at $50.70 with a stop at $50.80. When the price failed to move lower and instead hit their stop, the Coaches quickly reversed course. 

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

The Day That Could've Been: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 10, 2017

The Performance Coaches lost $180 today, with the bulk of that coming on a 4-tick loss in the U.S. Treasury Bond. The Coaches also had a minor loss on a Emini S&P 500 trade and a minor gain on a Crude Oil trade. All in all, though the market didn't move the way that they anticipated it would, the Coaches took solid trades that just didn't work out. Faced with the same information, they would have made the same trades 99 times out of 100. 

Here's why. 

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

How George Soros Made $1 Billion Shorting the British Pound

Posted by TopstepTrader on October 10, 2017

In 1992, George Soros made one of the most legendary trades of all time: a substantial bet that the British Pound would plummet in value. In hindsight, the trade looks like a no brainer (similar to how shorting the 2008 housing market looks today). How did everyone not see that? It was inevitable.

But Soros went against one of the most pervasive trading axioms of our time. You may have heard "Don't Fight the Fed." The expression refers to the fact that when the Federal Reserve is in the market, you shouldn't bet against it. The Fed moves the market. Trading the Pound, Soros' bet wasn't fighting the Fed, but it was fighting the Bank of England - a similar market force. 

So how'd he do it? How did he "break the Bank of England?" And, critically, how did he make $1 billion in a month and catapult himself into trading lore and enable himself to build one of the greatest trading fortunes in history?

Read More

Topics: Trading Basics, Trading Lessons, Market Wizards

The Professor Who Beat Blackjack: This is How Much Money You Can Lose on a Single Trade

Posted by TopstepTrader on October 09, 2017

This week, in our series of insights from Jack Schwager's Market Wizards, we look at Ed Thorp’s incredible story that took him from the blackjack tables to legendary trader. (Read our last piece on a trader that turned $30K into $80 million here.)

Ed Thorp is a professor, PhD mathematician and the man who figured out how to make millions counting cards in blackjack. (He even wrote the book on it in 1962 - Beat the Dealer.)

During his trading career, he built an $800 million fortune and figured out how to price options years before Nobel Prize winners Robert Merton and Myron Scholes. This statistical edge helped him put together an incredible winning streak; over 19 years, he made money in 227 out of 230 months.

So, he has some credibility in dealing with risk. Here’s what he says is the best way to figure out how much you can afford to lose on any given trade.

Read More

Topics: Trading Basics, Trading Lessons, Market Wizards

Coaches Put Up a Great Week - Performance Coaches' Trading Combine

Posted by TopstepTrader on October 06, 2017

The Performance Coaches had a good week in their Trading Combine® - making back a good chunk of their recent losses and rebounding strongly from their largest drawdown of the challenge. Today, the Performance Coaches lost $130 - putting their total P&L for the week at just over $400.

Considering just two of the five trading days were winners, that's tremendous. 

But, this is trading ... an ebb and flow where you want your equity curve to go up and to the right. The idea behind the Performance Coaches' Trading Combine® was to demonstrate a risk-centric approach to markets that is the only way to be successful in the long run. One full month into their Trading Combine, the Coaches have solidly done that.  

Here is the weekly video recap, talking about lessons from the week. Coach Danny is joined by a special guest - the man behind the challenge. Check it out.

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Best Day Yet: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 05, 2017

The Performance Coaches made an impressive $711.46 in their Trading Combine® today. As luck would have it, they picked the exact top tick in a Crude Oil ($CLX7) short, riding that for $460 - more than double their average profitable trade. That, combined with an earlier Crude Oil long and a small U.S. Treasury Bond trade, built up to their best single day of trading yet. 

There was a lot to unpack today, so let's get to it. 

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Time to Get Even More Choosy: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 04, 2017

The Performance Coaches took a $143.68 hit in their Trading Combine® today - pushing their balance to the lowest that it's been in the month they've been trading. Today's hit came with a $143.68 loss in Crude Oil - a long bought on a test of $50 that was stopped out when Crude broke below. 

Tomorrow, Coach Danny is trading solo - so we'll probably see some more activity in the U.S. Treasury Bond. 

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Sometimes It's One Step Forward, One Step Back: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 03, 2017

The Performance Coaches gave up yesterday's gains in a series of two trades - one in Crude Oil and one in the Emini S&P 500. The Coaches didn't have a high sense of conviction on either trade, so kept their stops tight in order to get a 2:1 reward-to-risk ratio out of it. 

Here's how they let $162.36 get out of their account.

Read More

Topics: Performance Coaching, Trading Combine, Trading Basics

Follow Us:

Subscribe to Email Updates