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You Can Always Get Back into a Trade: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 31, 2017

The Performance Coaches reentered the markets today with four trades - going short the S&P 500 ($ESZ7) twice and short Crude Oil ($CLZ7) twice. On their first attempts, both trades were stopped out for losers, before making back much of the money on the second go around. Overall, the Coaches gave back $47.22 to the market today. Their current balance is $50,544.21. 

Here's what you can learn from the Coaches' trading today.  


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The Coaches always have a stop when they enter the trade. The stop is typically set at what they estimate will be a point of failure on the trade - or a level that would disprove their trading thesis. But they're not always right about their levels. And when they're wrong, they're not shy about getting back into a trade. 

Today, we saw that twice. The Performance Coaches first shorted the S&P at 2572.25 with a stop at 2574.25 and a target at 2568.25. The price immediately moved in their favor, before bouncing and hitting their stop. When the price failed to move much higher, the Coaches thought that it might trend back down to settlement. Ultimately, that didn't happen, but the price did move 1.5 points lower by the time they closed the trade. 

On the second trade, the same thing happened in Crude Oil. As the price approached the Weekly Kickoff high (a level that Hoag identifies in his Weekly Kickoff email) as being significant, the Coaches took a short with a standard $0.15 stop. That was quickly hit, but the price appeared to not move much higher from there, causing the Coaches to reinitiate their short. That proved profitable, giving them $0.13 profits - roughly wiping out their loss from the first short. 

All of this goes to show that you can get back into a trade if you get stopped out. But in both instances, the Coaches waited for confirmation that their initial trade thesis wasn't wrong before reestablishing the position. 

If you want to follow the Coaches' trades on Twitter (@topsteptrader), you can use #CoachesCombine. Here's how we reported them today. 

As a reminder, trades are not recommendations and we do delay the Twitter feed by 15 minutes.

Total performance for the day, including fees and commissions: -$47.22Balance is $50,544.21. For more, check out their Trading Combine dashboard below.

Trading Combine Day 41.jpg

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Topics: Performance Coaching, Trading Combine, Trading Basics