On the day of a match, I could eat very little food. Likely as not, I would have to stay after school and run off another pound or two. Weight loss by dehydration was, and is, common procedure. Although there is a question whether dehydration causes a loss in strength, it is true that muscular endurance is lost if the cause of weight loss is due to water deprivation. Fluids should be replaced during and after practices.
Athletic performance is reduced by cutting down severely on daily calories.
A lot of wrestlers will only smile at the recommendation of losing not more than 2 pounds per week. There is one very obvious way to get down to weight quickly. Don't let yourself get 15 or 20 pounds over weight in the off-season. Integrate moderate, sensible eating with some sort of exercise program that will build strength and tax your cardiovascular system. If you are only 5 pounds over your weight class at the start of the season, you will easily be down to weight by the first match.