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So You Broke a Rule. Now What?

Posted by TopstepTrader on November 08, 2017

We all make mistakes - some more painful than others. But if you've just broke one of TopstepTrader's rules (or even your own rules), you may be feeling a bit down. Don't. Nearly every billionaire hedge fund manager has blown up a trading account. Trading isn't an innate skill you're born with. It's something you develop with practice. 

At TopstepTrader, we get it. That's why we tackled how to handle breaking a rule in our latest episode of Coach's Playbook. Check it out and leave any feedback in the comments.

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Topics: Performance Coaching, Trading Combine, Coach's Playbook, Trading Lessons

Whiplash in Crude Leads to $300 in Losses: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 07, 2017

The Performance Coaches gave back yesterday's gains and some today, dropping $314.72 to the market as Crude Oil fooled them with a range-bound day. In hindsight, after yesterday's move, it probably shouldn't have surprised them.

The Coaches entered a good trade off of the opening range, selling Crude short at $57.23, but they closed that out for a couple cent loss when the move lower was rejected. They then bought Crude at $57.04 before getting stopped out at $56.90 and selling it one cent lower... at the daily low, proving you can't always have the foresight to sell the high and buy the low.

Here's a play-by-play update of the Coaches trades on Twitter (@topsteptrader) using #CoachesCombine: 

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Topics: Performance Coaching, Trading Combine, Trading Basics

You Can Make Money Short a Rising Market: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 06, 2017

Crude Oil ($CLZ7) is on fire. The commodity has rallied more than $7 in a month. There are times, like today, when you don't want to step in front of it. That is, unless you have previously identified important areas of resistance and keep your stops tight. 

That's what the Performance Coaches did. Each week, Senior Performance Coach John Hoagland identifies levels in the Weekly Kickoff that could spur long-term players into the market - either as resistance levels or levels of support. 

In yesterday's email, he identified $57.60 as the Weekly Kickoff High. Today, a short of Crude at $57.60 was a penny off the high and netted the Coaches a profit of $440. When combined with an earlier losing position, the Coaches added a total of $262.64 - bringing their total balance to $50,997.41. 

Here's a look closer at that timely trade.

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Topics: Performance Coaching, Trading Combine, Trading Basics

Fourth Try is a Charm: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 03, 2017

The Performance Coaches certainly had a strong bias for the day. They expected that Crude Oil ($CLZ7) would face an inflection point, supported by demand at $54.50. That view ultimately was correct - but the Coaches faced a lot of pain along the way. In the end, they added $85, but they can't help but feel like they left money on the table (particularly since Crude moved $0.80 higher after they captured profits). 

That brings the Coaches balance to $50,734.77 - giving them gains of $133.34 this week. That's not their best week thus far, but after coming more than $2,000 off their lows in the last few weeks, a slow and steady week is what the doctor ordered.

Want to check out their trades? 

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Topics: Performance Coaching, Trading Combine, Trading Basics

Patience Doesn't Always Pay Off: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 02, 2017

The Performance Coaches were patient today, staying away from trading in the morning when the market was wandering listlessly. As Crude Oil ($CLZ7) moved towards its floor close, it started to look like it might rally. The price broke back above $54.50, causing the Coaches to buy at $54.55. They were looking for a continuation, so had a close, 10-cent stop. Ultimately, that stop was hit, and the Coaches lost $103.68 on the trade.  

That brings the Coaches balance to $50,649.49. They're trailing max drawdown is at $48,889, while their profit target is still at $53,000 - or $2,350.51 away. 

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Topics: Performance Coaching, Trading Combine, Trading Basics

$200 Profits Riding the Trend: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 01, 2017

The Performance Coaches gained $198.96 today affter going long Crude Oil ($CLZ7) on three separate trades. Though Crude closed lower on the day, the Coaches kept initiating longs based on the two-month-long trend that saw Crude gain from $47 to a high of $55.20 today. That $8 move has only accelerated in recent days - causing the Coaches to look for opportunities to primarily buy any dips.

Here's how the Coaches trading worked out today.

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Topics: Performance Coaching, Trading Combine, Trading Basics

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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Topics: Performance Coaching, Trading Combine, Trading Basics

Comeback Intensifies, Up $634 for the Week: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 27, 2017

The Performance Coaches continued to build on last week's gains, putting together a streak of seven consecutive days of winners in their Trading Combine® challenge. Their account is now at $50,601.43. Since initially experiencing a drawdown, the Coaches have since gained $2,000 - putting them in a good position to reach their profit target. 

Here's the Coaches talking about their journey thus far - and why they decided to take today off. Check it out!

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Topics: Performance Coaching, Trading Combine, Trading Basics

7 Day Winning Streak Ends: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 26, 2017

The Performance Coaches ended their seven-day winning streak with a $287 loss today. The trades just didn't work out how they expected from the start. Their first trade - short the Emini S&P 500 ($ESZ7) was stopped out in the first couple minutes due to a tight, 2-point stop. However, when prices failed to rally, they re-entered the short. Initially, that trade worked out in their favor - going five points in the money. However, the sell-off didn't last, and the trade eventually hit their stop. 

Here's what those trades looked like reported in real time.

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Topics: Performance Coaching, Trading Combine, Trading Basics

Want to Know What a Perfect Setup Is? Here You Go: Performance Coaches' Trading Combine

Posted by TopstepTrader on October 25, 2017

The Performance Coaches capitalized on some of the volatility in futures markets to make another $421.32 in their Trading Combine® challenge today, bringing their balance to $50,888.65 - roughly one third of their way to their profit target.

Today's trade was a perfect setup in the Emini S&P 500 ($ESZ7) - let's break it down.  

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Topics: Performance Coaching, Trading Combine, Trading Basics

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