TopstepFX

Recent Posts

Forex Trader with $4,100 in Withdrawals: For the Love of Trading, Set a Stop Loss

Posted by TopstepFX on June 18, 2018

Nikhil O. in Illinois, U.S.A. got off to a troubled start in his TopstepFX Funded Account™.

In his first three days trading, he lost more than 70% of his overall cushion — losing $930 of his overall $1,300 account loss limit for the $200K Trading Combine®.

But he turned that around, and five days later, his overall P&L was $325. In another week, he built a nice base of profits that led to more than $4,100 in withdrawals.

So what’s his secret? No secret — just a lot of hard work, lessons learned and dedication.

The real lesson is that Nikhil is just like you. He has a full-time job, but a passion to make a living trading. And to reach that goal, he’s working on maximizing his trading strengths and minimizing his weaknesses, which is why TopstepFX is a great place for him.

We recently sat down with Nikhil to talk about his journey trading and what he would tell other traders in the TopstepFX Trading Combine. Here’s what he said.

Read More

Topics: Trading Lessons, Forex, TopstepFX Funded Traders

The 3 Hottest Opportunities in the Forex Market

Posted by TopstepFX on May 23, 2018

The following was written and emailed to TopstepFX subscribers on Wednesday, May 16. To subscribe, start an account at https://app.topstepfx.com/register.

Heading into the summer, you might not expect this to be one of the most active times for the forex market. But in 2018, you can't make that assumption. 

Between the U.S. and China in a trade war — or trade dispute, depending who you ask — overall market volatility is staying high, presenting lots of opportunities to capitalize on. The GBP/USD has come $0.10 off its high, while the EUR/USD is down $0.08. 

The recent surge in the U.S. Dollar is among one of the three opportunities for forex traders to take advantage of. Here they are all the opportunities and why.

Read More

Topics: Trading Basics, Trading Lessons, Forex

This is the Best Time to Trade Forex

Posted by TopstepFX on April 26, 2018

With the prevalence of OTC forex markets, traders can trade forex nearly 24 hours a day, five days a week. But just because the market is open doesn’t necessarily mean it presents you with the best trade opportunities. In forex, the best time to trade is when the market is moving. Here are those times and what to look for when trading them.  

Read More

Topics: Trading Lessons, Forex

3 Tips from a Resilient Trader: Interview with a Funded Trader

Posted by TopstepFX on April 23, 2018

If there's one thing that more than 13 years of trading teaches you, it's that trading is not a get-rich-quick scheme. It's a lot of hard work, setbacks and persistence. These are traits that Jacqui W. in Maryland, TopstepFX's latest funded trader, possesses.

Jacqui passed Step 1 of the Trading Combine® in just five days. From there, he says that he became overconfident and eager to to earn a Funded Account™ to start trading live capital. As a result, it took him a little more than two months to pass Step 2. 

We caught up with Jacqui last week to learn more about his trading strategy and what advice he would give other traders in the Trading Combine. 

Read More

Topics: Trading Lessons, Forex, TopstepFX Funded Traders

New Funded Trader: My 3 Keys to Forex Trading Success

Posted by TopstepFX on April 07, 2018

Like most of us, Rajeev T. in India learned the hard way that trading is challenging. He’s been trading financial markets (primarily the Indian stock market) for more than five years. Looking back, he realizes that he didn’t have a plan. Instead, he said that he relied on news that he saw on TV to trade. And that led him to the same place: blowing up account after account.

Rajeev said that all changed in September 2016 when he realized that if he kept doing the same things, he would get the same results. That led him to a study of technical analysis, trading psychology and risk management. Less than two years later, he’s found his stride and earned a TopstepFX Funded Account™ with $300,000 in live forex buying power. Here’s how.

Read More

Topics: Success Stories, Trading Lessons, Forex, TopstepFX Funded Traders

Tejas from Vancouver Earns a TopstepFX Funded Account

Posted by TopstepFX on February 28, 2018

February has been an interesting month for trading. There was a brief melt-down in equity markets, causing the U.S. Dollar to (at least temporarily) halt its downtrend. 

Tejas from Vancouver has capitalized on that environment to earn a TopstepFX Funded Account. But in talking with him about what made him successful, his perspective proves that trading forex is no different than trading futures: good trading is good trading.

Tejas’ keys to success are similar to what we often hear from successful traders: he started focusing on the actual market trends and became obsessive about his risk management. Here's how he earned his Funded Account.

Read More

Topics: Success Stories, Trading Lessons, Forex, TopstepFX Funded Traders

This is Why the British Pound is Up 3%+ This Year

Posted by TopstepFX on February 05, 2018

The theme heading into 2017 was one of worry. Many in the market were worried there was going to be something to be worried about, expecting factors outside of typical “norms” would dominate the global economy. Brexit was one of the first “shocks.” Then President Donald Trump’s election in November 2016 magnified these concerns.

While equity markets took Brexit in stride, the Pound fell sharply. On June 23-24, 2016, Sterling fell from above 1.50 in the hours leading up to the vote results to settle at 1.35 at the end of the week – a 10% decline. By year end 2016, the Pound fell another 10% to close at 1.2343.

Read More

Topics: Forex, US Dollar, GBP/USD, British Pound

Will the EUR/USD Uptrend Continue? Here are the Factors Driving It Higher

Posted by TopstepFX on February 02, 2018

EUR/USD was in a strong uptrend throughout all of 2017, rising more than 14%. The Euro, in general, was the best performing major currency of 2017. What made the move so impressive was that it was somewhat unexpected. As discussed, the U.S. Dollar came into the year on a strong note. However, fears of political instability subsided, Eurozone growth surged, and the European Central Bank (ECB) was forced to begin withdrawing its stimulus.

Those three factors turned the market around. 

As the chart below shows, the first major breakout in EUR/USD came mid-April on the weekend of the French presidential elections (April 23) when it became clear that Emmanuel Macron would defeat Marine Le Pen. The market feared Le Pen would ride in on a global wave of populism and might pull an upset – potentially leading the French to exit the EU. That did not happen, and the EUR/USD surged. 

Read More

Topics: Forex, US Dollar, Euro, EUR/USD

These are the 3 Factors Driving the Forex Market Right Now

Posted by TopstepFX on January 31, 2018

Until we figure out what’s driving the U.S. Dollar, we anticipate the following three themes will dominate trading in 2018: economic growth, global central bank policies, and global geopolitical uncertainty.

Economic Growth

Things are going well in the global economy 10 years after the Great Recession. The Federal Reserve expects the U.S. economy will grow at 2.1% in 2018, down slightly from growth of 2.4% in 2017.

Read More

Topics: Forex, US Dollar

What Happened to King Dollar?

Posted by TopstepFX on January 29, 2018

Everyone thought 2017 was going to be the year of King Dollar. Following President Donald Trump’s election on November 8, 2016, the U.S. Dollar (USD) rallied more than 4.5% against the Euro (EUR) — gaining from 1.1018 to close 2016 at 1.0521. 

But that U.S. Dollar rally quickly fizzled. EUR/USD reached its low (1.0340) on January 3. Through the rest of the year, the Dollar lost 16%, closing at 1.2018 on December 29.

What happened? Not only did the Dollar abruptly turn in its tracks, but that turn came despite the fact that the Federal Reserve remained the only central bank taking a prolonged tightening stance throughout the year.

Read More

Topics: Forex, US Dollar

Follow Us:

Subscribe to Email Updates

Recent Posts

Popular