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.

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

Billionaire Hedge Fund Manager Bill Ackman Failed to Follow These 2 Rules of Trading & It May Sink His Hedge Fund

Posted by TopstepTrader on April 06, 2018

If you want to watch what happens when you don't control your trading losses, pay attention to what's going on at Pershing Square Capital. Pershing Square — led by billionaire hedge fund manager Bill Ackman — managed nearly $20 billion of outside capital three years ago. 

But Ackman's fortunes have changed since Forbes famously compared him to Warren Buffett on a 2015 cover. According to the Wall Street Journal yesterday (subscription), "most" of Ackman's investors are asking for their money back. 

What changed? Ackman failed to follow these two trading rules — and it may sink his fund. Here's what you can learn from a billionaire's huge mistakes.

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Topics: Trading Basics, Forex, Futures, Bill Ackman

How This Funded Trader is Profiting with Just 31% Winning Days

Posted by TopstepTrader on April 04, 2018

For years, Bob R. (Viroqua, Wisconsin) says he was like Jim Carrey’s character in Liar Liar. He would beat himself up whenever his trades went the wrong way. But even when he was struggling, part of him knew he would be a better trader if he could just change his mindset.

That realization led Bob to work on his attitude and stop trying to be right all the time in his trades. Now, Bob is comfortable being wrong — so long as it's not at the expense of being profitable.

Since earning a Funded Account™, Bob has only been profitable on 31% of his trading days. And he’s profitable on just 40% of his trades.

Those are stats that would sink most traders, if not for the fact that the magnitude of Bob’s wins are much larger than the magnitude of his losses. Bob’s average winning day is 3x the size of his average losing day, and his largest winning day was nearly 5x his largest losing day. With that, Bob has turned from a trader that struggled into one that embraced losses and found a way to be profitable. Here’s his step-by-step guide to making that transition.

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Topics: TopstepTrader Funded Traders, Success Stories, Trading Lessons

3 Tactical Differences Between Profitable and Unprofitable Traders

Posted by TopstepTrader on March 28, 2018

Let’s assume you’ve made a number of good decisions as a trader. You’ve selected markets and loss limits that fit your style. You’ve studied the charts and developed a strategy that gives you an edge. You’ve even created a trading plan that supports your long-term goals.

But despite your best efforts, you’ve failed to realize a profit.

Here’s the thing about trading: that's not unusual. Part of your strategy is unique to you, like how you trade the market you trade. Other parts are behavioral aspects that reinforce your approach. Here are three differences that help make traders profitable.

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Topics: TopstepTrader Funded Traders, Trading Basics, Forex, Futures

Your Best Trades May be Losses

Posted by TopstepTrader on March 27, 2018

In the latest episode of The Trade, Performance Coach Dan Hodgman hones in on a subject that a lot of traders don't talk much about: taking losses. Anyone who has been trading for a while knows that some of the best trades they make are losses. It can be painful, but it's a fact of life.  Even the best traders are wrong at least three or four times out of 10. 

But even though this trade resulted in a loss, the funded trader that made it chose a valid entry, a valid target and a valid stop point. That means that there's a lot you can learn from it.

If you've ever had trouble taking a loss, you have to watch this. Here is Coach Dan dissecting a losing trade. 

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Topics: TopstepTrader Funded Traders, Performance Coaching, Trading Basics, Futures, Trading Setups, The Trade

‘You Have to Do Your Homework,’ Says Funded Trader with $4K in Withdrawals in 13 Days

Posted by TopstepTrader on March 26, 2018

Like any trader, Mohammad A. in the United Arab Emirates has seen good days and bad. Since earning a Funded Account™, however, Mohammad has put together some impressives stats. In 13 days trading live with our capital, Mohammad has already withdrawn $4,000 in profits.

But that doesn’t mean he has everything figured out. Mohammad’s average winning trade is slightly less than his average losing trade ($135.36 vs -$147.38) — a statistic that he will work on as he looks to improve his consistency even further.

We talked with Mohammad to find out how he managed to get off to a quick start and how he plans to keep building on his success.

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Topics: TopstepTrader Funded Traders, Success Stories, Trading Lessons

1 Hour to Better Trading: Here's Your Weekend Curriculum

Posted by TopstepTrader on March 24, 2018

"The most important investment you can make is in yourself." — Warren Buffett

It's another weekend — and after the week we had in markets, you deserve a breather. But don't forget that you can beat out the competition if you make improvements while everyone else is off. 

Included in this week's curriculum: data on TopstepTrader's profitable and unprofitable traders (and what that says about how you can win); an interview with a 30-year trading legend on properly sizing positions so you don't get killed in volatility; and reminders from NinjaTrader's blog about how to trade during highly volatile times.

So here are three resources that will help your trading improve by Monday... all in less than an hour! 

Enjoy. 

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Topics: Trading Basics, Futures, Trading Setups, Weekend Curriculum

This is Who You are Competing Against Trading

Posted by TopstepTrader on March 22, 2018

From listening to John Bougearel, you quickly discover a couple things. First, he is incredibly in tune with the market and knows his trading style backwards and forwards — and clearly knows his edge.

Second, it's a reminder of the intense competition that is futures trading. In global electronic markets, this is the trader that you are competing against. 

In this interview, John Bougearel talks about his trading style, how he found his passion in technical analysis and his overall approach to the market. Be sure to subscribe to Limit Up on iTunes, Google tPlay or Soundcloud to get the fresh episodes each week delivered to your inbox. 

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Topics: Trading Basics, Limit Up!, Forex, Futures, John Bougearel

What Separates Trading Success from Failure — A Look Back at Our Funded Traders

Posted by TopstepTrader on March 19, 2018

In 2017, TopstepTrader funded almost 400 futures traders with our capital, providing them risk-free opportunities to profit.

As we fund even more traders this year (we're on pace to fund 3x as many — with 241 traders funded in January and February!), we wanted to share concrete examples of the difference between profitable and unprofitable traders. 

To do so, we went back to the trading data. We tracked average daily profits, average daily losses, largest profit, and largest losses, comparing the traders who were active as of January 1, 2018 with those accounts that were closed in 2017. We grouped traders into two groups: those that were currently active in their Funded Account™ (Group A) and those that broke a rule trading in their Funded Account (Group B).

The results speak for themselves. 

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Topics: TopstepTrader Funded Traders, Trading Basics, Forex, Futures

Become a Better Trader in Just Over an Hour: Your Weekend Curriculum

Posted by TopstepTrader on March 17, 2018

 The weekend is here; markets are closed. But that doesn't mean that you can't work on your trading. 

This week, we put together three resources for you to think about and digest this weekend. Highlights: the story of a funded trader that cut his loss limit down — and how it helped him make $2,000 last week; what a poker champion has to say about decision making; and how one trader built a $900 million fortune. 

Enjoy. 

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Topics: Trading Basics, Futures, Trading Setups, Weekend Curriculum

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