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

How to Make 2018 a Better Trading Year - Limit Up! with Rich Friesen

Posted by TopstepTrader on December 06, 2017

As you look back on trading in 2017, you probably are coming to the same conclusion as most traders out there  - I made progress, but there is so much I could've done better had I just ... 

The second guessing usually revolves around our mental lapses over the year. Had I just cut that one trade early. Had I just instituted a more strict Daily Loss Limit. Had I just taken a few days off.

Often times, we know what is the right thing to do - we just don't do it.

In the latest episode of Limit Up!, host Eddie Horn talks with Rich Friesen of Mind Muscles about how the mind is built and what we need to do as traders to implement change and trade better. Give it a listen - and be sure to subscribe and leave us a review on iTunes or Android Play. 

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Topics: Trading Basics, Limit Up!, Trading Psychology, Rich Friesen

Step-by-Step Guide to a Winning Trading Strategy

Posted by TopstepTrader on November 30, 2017

Peter Davies day trades the S&P 500 and helps traders by designing analytics, a trading platform and other tools as the founder of Jigsaw Trading. In the most recent episode of Limit Up!, host Eddie Horn and Peter hone in on the one thing that matters most to traders: finding and defining a profitable trading strategy. 

Peter says that anyone who is starting out trading should do so on a short timeframe. Instead of focusing on what the market may do in the next 2 or 3 days, he believes it is easier to predict what the market may do in the next 2 or 3 hours (or shorter). 

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

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Topics: Trading Basics, Limit Up!, Peter Davies

40 Year Trading Veteran Shares His Secrets to a Long Career - Limit Up! with Yra Harris

Posted by TopstepTrader on November 22, 2017

In 40 years of trading, one of Yra Harris' best trades was a huge loser. In the days of the European Exchange Rate Mechanism, he had expected the British Pound ($6B) to be pegged to the ERM at a certain level - taking a position to express that view. But the market had a different view - and the position quickly went against him. It's what he did next though that saved him.

He got out. As quickly as possible and at whatever cost. Sure, he took a loss, but he also saved his account in the process. 

That story solidified Yra's belief that listening to the market is the key to long-term trading. Hear Yra talk about that experience, other lessons he's learned over 40 years of trading, and his outlook for 2018 in the most recent episode of Limit Up! Give it a listen - and be sure to subscribe on iTunes or Android Play. 

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Topics: Trading Basics, Limit Up!, Yra Harris

Lessons from Losing $90K - TopstepTrader Launches New Podcast, Limit Up!

Posted by TopstepTrader on November 19, 2017

TopstepTrader Founder and CVO Michael Patak's story is all too familiar to many traders out there - he started trading and quickly lost his entire account. Yet, unlike many who stop, Michael stayed in the market and blew up two more accounts for a total of $90,000. Then, his dad challenged him to focus on making just $60,000 in the next year. A former high school and college athlete, Michael took this to heart.

A year later, he accomplished that goal - bartending part time to take the stress off making money in the market. And then in a couple years, he found himself making back a third of those losses in a single trading day. 

Michael's story touches on the passion and struggles that so many day traders share and shows that working at the market is a long process, but that it can lead to success.

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Topics: Trading Basics, Limit Up!

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