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Day 2: Personal Daily Loss Hit - Performance Coaches' Trading Combine

Posted by TopstepTrader on September 06, 2017

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. 

Get Started Now

PC Combine Day 2.jpg

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Topics: Performance Coaching, Trading Combine, Trading Basics