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A Decade In, Risk Management Takes Hold and Profits Follow: Interview with a Funded Trader

Posted by TopstepTrader on December 15, 2017

Julian E. of New Jersey started trading in fits and starts. Every time he learned a new strategy, he’d jump into a market. Then he’d lose money and stop trading. This went on for nearly 10 years.

But for the last four months, he’s achieved better outcomes with TopstepTrader. Since becoming a funded trader in mid-October, Julian has turned things around in the market, withdrawing more than $5,000 in profits and putting together a staggering 79% winning days. His secret: honing a specific strategy that has him only trading when he sees an opportunity - not every day.

And while he isn’t quite ready to drop his daytime consulting gig, he is making strides towards full-time trading.

We recently talked to Julian to learn what’s made the difference in his trading. Here’s what he had to say.

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Topics: TopstepTrader Funded Traders, Success Stories, Trading Lessons

Stop Being Your Own Worst Enemy - Trader Behavior

Posted by TopstepTrader on December 14, 2017

There are so many paradoxes in trading. We are quick to take winners off the table and slow to cut losing trades. Why? 

We often know intuitively what we should do, but we don't do it. And then we beat ourselves up for not doing what we knew we should do. It can become a vicious cycle. 

In this week's Trader Behavior, Dan Hodgman joins John Hoagland to explore these ideas and offer traders a way that they can better manage their emotions and trade better. Check it out and leave any feedback in the comments. 

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Topics: Trader Behavior, Performance Coaching, Trading Basics

Inside the Life of a Full-Time Oil Trader - Limit Up! with Tracy Shuchart

Posted by TopstepTrader on December 13, 2017

If you have a goal of trading full time - or just trading more, then this episode of our podcast Limit Up! is a must listen. This week, we dig into the daily routine of Tracy Shuchart, a Crude Oil ($CL) trader. We talk about how she got into the business, what charts she looks at, and the interplay between technicals and fundamentals.

Tracy talks about how much work she does on a daily basis, both before the open and after the close. She also discusses why she has multiple plans when she enters a trade - to try to capture all contingencies. 

Give it a listen - and be sure to subscribe and leave us a review on iTunes or Google Play. 

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Topics: Trading Basics, Limit Up!, Tracy Shuchart

The 10 Books Guaranteed to Improve Your Trading - Coach's Playbook

Posted by TopstepTrader on December 13, 2017

It's a slower time in markets - but that doesn't mean that you can't be progressing and working towards your goals. Being a professional trader is about more than placing trades. It's about learning and studying the markets - and then implementing what you've learned to gain an edge.

These books are more than trading manuals. Some are stories, some are non-fiction and others are more educational. So whatever you are feeling this holiday season, we have you covered. 

Please give it a watch and let us know any feedback in the comments. 

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Topics: Market Updates, Performance Coaching, Coach's Playbook

Gold Tumbles, Dollar Gains: Tuesday's Market Forecast

Posted by TopstepTrader on December 12, 2017

Is it Groundhog's Day? Wake up, check prices, Gold ($GCG8) losses. Repeat. This is one of the most prevailing trends in markets right now. Prices have come down more than $120 since the September yearly highs were reached. Now, the next level of support on the charts is $1,210 - the March lows for the February 2018 contract. If Gold can't find any support in the near term, additional declines of $30 seem inevitable.

With that pressure on Gold, the Euro ($6EZ7) is also seeing 0.4% declines - pushing below 1.1750. There seems to be a lot of support on the chart between this level and 1.1700. It would be surprising to see a strong move lower ahead of tomorrow's FOMC meeting. The central bank is expected to raise interest rates 0.25%. While that may seem bullish for the USD, the FOMC has raised interest rates numerous times this year - all the while the USD has lost 15 cents against the Euro. 

Running down these markets, as well as Crude Oil ($CLF8) and the Emini S&P 500 ($ESH8), is our Senior Performance Coach John Hoagland. 

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Topics: Market Updates

How Common Sense Helped One Trader Retire in 10 Years

Posted by TopstepTrader on December 12, 2017

By all accounts, Jim Rogers’ career is legendary. He started trading stocks in 1968 with just $600. In 1973, he co-founded Quantum Funds with George Soros, which went on to generate 4,200% returns over 10 years. (The S&P 500 only gained 47% during the same period.) By the time the 1980s rolled around, Rogers had earned enough money to retire from full-time trading 

But it’s not his reported $360 million net worth that makes him exceptional. At least, it’s not the only thing. What really makes Rogers a standout is his common-sense approach to the markets.

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Topics: Trading Basics, Trading Lessons, Market Wizards, Jim Rogers

Trade Better by Paying Attention to Your Competitors - Trader Behavior

Posted by TopstepTrader on December 11, 2017

There is no shortage of participants in futures markets - from actual producers and hedgers to high-speed computers colocated at the exchanges scalping for ticks... and everywhere in between. Thinking about the market as a collection of these different players with different interests can help give you a leg up on the competition. 

In this week's Trader Behavior, Senior Performance Coach John Hoagland and CVO Michael Patak talk about how they break down the market to help predict price movements.

For example, the two talk about the power of the prior day's settlement as a magnate for prices. They present a scenario where overnight traders push prices higher - getting long. If the prices don't follow through early in the U.S. session, the market has a tendency to move back to settlement as those traders get out of their positions. 

Check it out and leave any feedback in the comments. 

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Topics: Trader Behavior, Performance Coaching, Trading Basics

Big Week for the US Dollar: Monday's Market Forecast

Posted by TopstepTrader on December 11, 2017

This is going to be a busy week for currencies - with a whole slate of data and central bank meetings. On Wednesday, the Federal Reserve will announce its policy decision, with expectations that it will hike interest rates another 0.25%. Given the fact that a new FOMC Chair will soon take the helm, the market is likely to pay closer attention to the statement's language and Fed Chair Yellen's press conference at 1:30 PM CT. 

Then, as the market digests those fireworks, the Bank of England and European Central Bank will come out with their own interest rate decisions on Thursday morning. Neither bank is expected to raise rates, though the market will closely monitor ECB President Draghi's comments at his press conference (7:30 AM CT Thursday) to see what he has in store for the pace of asset purchases. 

Before all this takes hold though, Senior Performance Coach John Hoagland runs down the U.S. Dollar, as well as equities ($ESH8), Crude Oil ($CLF8)  and Gold ($GCG8) in today's market forecast.  

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Topics: Market Updates

The Secrets Behind $47K in November Withdrawals

Posted by TopstepTrader on December 10, 2017

TopstepTrader's funded traders had a great November - even in conditions that were not so easy. They piled up profits and even took out $47,000 from their Funded Accounts™ - just in time for the holidays. 

In this special bonus episode of our podcast, Limit Up!, we talk about what made them so successful. Host Eddie Horn talks with Funded Trader Risk Manager Mick Ieronimo and Dr. Jinnie Cristerna to get their take on how a trading strategy intertwines with psychology to allow for success day trading the markets. 

Give it a listen - and be sure to subscribe and leave us a review on iTunes or Google Play. 

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Topics: Trading Basics, Limit Up!, Trading Psychology, Jinnie Cristerna

Introducing - TopstepTrader's 12 Days of Giveaways

Posted by TopstepTrader on December 07, 2017

12 Days of Giveaways is here. Win Trading Combines, Performance Coaching sessions or TopstepTrader swag. No purchase necessary.

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Topics: TopstepTrader Company Updates, Events & Promotions

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