Futures Setting Up for an Interesting Week: Market Forecast

Posted by TopstepTrader on October 23, 2017

Overnight markets were relatively calm with equity futures and Crude Oil ($CLZ7) extending their recent gains. That has Gold ($GCZ7) down again this morning, struggling to get any traction on rallies. Similarly, the Euro ($6EZ7) is also struggling to maintain recent rallies - though prices are likely to move sideways ahead of the European Central Bank (ECB) this week. 

Senior Performance Coach John Hoagland gets your week started with the Market Forecast that shows areas of importance and levels to watch. 

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Topics: Market Updates

Coaches' Tip for Better Trading: Make the Money Real

Posted by TopstepTrader on October 21, 2017

The Performance Coaches talk to people every week who are displeased by making $200, $300 or $500 trading. Why? Oftentimes, it's because they feel like they should be doing better. "Yeah, I know I made $500 this week, but I wanted to make $1,000." 

We all have long-term goals trading, whether that's to pay off a car or make enough to leave another job. But it works against those goals if we cannot celebrate the successes when we have them. And to do that, the Coaches recommend maintaining a connection with the money - so that even if you make $100 in a week, you can be happy that you paid your cable bill. 

Here are some practical ways that the Performance Coaches have kept a connection with the money they put at risk trading. Hope you enjoy the short video. 

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

Equities Selling Off, Bonds Rallying

Posted by TopstepTrader on October 19, 2017

Equity markets are selling off on the 30th anniversary of the 1987 Crash. It's probably just a coincidence as markets have been on a firm march higher for the better part of a year. The Emini S&P 500 contract is down more than 10 points at the open, while Nasdaq ($NQZ7) is falling even further. 

Here's what traders are watching today in those markets as well as Crude Oil ($CLZ7), Gold ($GCZ7) and the Euro ($6EZ7). 

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Topics: Market Updates

Equities Up Again, Crude Rolls

Posted by TopstepTrader on October 18, 2017

Crude Oil ($CLZ7) rolled over this morning - so make sure you are trading the most liquid front month - December. 

Gold ($GCZ7) sold off again overnight, falling from $1,290 to hit lows at $1,278.60. The price has since bounced - and the product is trading just below $1,285 as some market participants seem to be covering shorts after a $20 sell-off in two days. 

In other products,  Crude Oil is up $0.35 on the session, trading near highs at the moment. Meanwhile the Euro ($6EZ7) is also near its session highs and once again trading above $1.18 again. 

On the equity front, it shouldn't be surprising that equities are once again reaching all-time highs - with the Emini S&P 500 ($ESZ7) hitting highs at 2562.25 this morning. 

Performance Coach John Hoagland runs through all these contracts with insight on important levels and where opportunities may emerge.

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Topics: Market Updates

What's Behind Gold's Sharp Sell Off

Posted by TopstepTrader on October 17, 2017

The story of today is Gold ($GCZ7). The metal saw a strong overnight sell-off that brought it from above $1,300 per ounce to below $1,290. And now the pressure is really on. Prices now may be targeting $1,281 - though it's unclear whether there will be interest throughout the U.S. session given the already large move. 

In other futures markets, Crude Oil ($CLX7) is flat ahead of this week's roll. And the Emini S&P 500 ($ESZ7) seems to be contemplating a run at its all-time highs, last hit yesterday. 

What opportunities are out there to take advantage of today? Performance Coach John Hoagland runs through equities, Gold, Oil and the Euro to give you insight on today's markets and levels.

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Topics: Market Updates

Markets Open, Reach Fresh Equity Highs, Repeat

Posted by TopstepTrader on October 16, 2017

Equity futures once again hit fresh all-time highs on Monday, with the Emini S&P 500 gaining 0.2% to 2557.50 at its peak. The previous high was  a point lower - a level the market hit on Friday. It seems like markets are meeting some levels of exhaustion, but any pull-backs have been exceptionally shallow. 

As for other markets, Gold ($GCZ7) and Crude Oil ($CLX7) futures are trading higher on the session, with Crude Oil trading above $52 per barrel. The U.S. Dollar is trading slightly higher against the Euro ($6EZ7) as well. 

Where should you position yourself this week? Performance Coach John Hoagland goes over these markets to help give you an edge.

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Topics: Market Updates

The Three Things Required to Succeed in Trading - Trader Behavior

Posted by TopstepTrader on October 14, 2017

It was great to see Yra Harris' passion for financial markets when he stopped by TopstepTrader on Monday to talk about how to make trading a long-term career. That's the goal for so many people in the TopstepTrader community - so we took the extra time to parse through Yra's advice. He was clear in the three things that are required to succeed: preparation, patience and risk management. 

In this week's Trader Behavior video, Michael and Hoag talk about what they learned from Yra - even though they've each been trading for 15+ years. There are certainly takeaways for traders of all levels of experience and success. Give it a watch and leave any feedback in the comments. 

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Topics: Market Updates, Trader Behavior

Big Moves in Gold, New Highs in Stocks

Posted by TopstepTrader on October 13, 2017

Following retail sales and CPI data this morning, equity futures again hit all-time highs, with the Emini S&P 500 ($ESZ7) hitting 2555.50 as of writing. Crude Oil and Gold futures are also rallying, with Crude leading the way (up 1.6%). The U.S. Dollar is also seeing pressure, falling 0.3% versus the Euro. 

Judging by this reaction, equities are encouraged by the strong retail sales figures, which rose 1.6%, while commodites and the U.S. Dollar are looking at the slightly weaker than expected CPI reading.

Will these inital moves hold? Here's Performance Coach Dan Hodgman on the levels that matter and what to think about as markets end the week.

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Topics: Market Updates

This is How You Make Trading a Career: Interview with Yra Harris, a 40-Year Trading Veteran

Posted by TopstepTrader on October 12, 2017

Yra Harris has been trading commodities for nearly 40 years. He started on the floor of the Chicago Mercantile Exchange (CME), thrived in the transition from the pits to the screens and even became a board member at the CME later in his career.

Yra stopped by TopstepTrader earlier this week to talk with founder and CVO Michael Patak and Senior Performance Coach John Hoagland about how he has stayed profitable in trading for so long. To summarize Yra, he's been successful as a result of three things: (1) preparation; (2) patience; and (3) risk management.

You'll have to hear Yra relay his experiences in this special segment of Trader Behavior. 

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Topics: Market Updates, Trader Behavior

Opportunities to Profit with Range Trading: Thursday's Market Forecast

Posted by TopstepTrader on October 12, 2017

Futures markets have presented some opportunities over the past few days - but the large moves has basically been confined to an up and down move in Crude Oil ($CLX7). Crude Oil is down 2% in overnight trading following the American Petroleum Institute's supply numbers last night and ahead of the EIA's supply numbers later this morning. Whatever those numbers, Crude appears to be looking for its next direction. 

Aside from that, Emini S&P 500 ($ESZ7) and Gold ($GCZ7) are in relatively tight ranges, with Gold pushing up towards the $1,300 handle. 

In today's market forecast, John Hoagland provides you with the levels to watch in today's markets.

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Topics: Market Updates

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