Your Weekend Curriculum: Profits are About Process

Posted by TopstepTrader on May 12, 2018

What are you doing in the next 48 hours to trade better next week? 

This week, we compiled three resources that you have to check out. If you do, we promise you'll be in a better place when markets reopen. 

Don't just take our word for it; listen to hedge fund manager and billionaire Paul Tudor Jones, who said"The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge."

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Topics: Trading Basics, Jesse Livermore, Futures, Trading Setups, Weekend Curriculum, Mike Bellafiore, Michael Marcus

Shorting a Market at New Contract Highs

Posted by TopstepTrader on April 30, 2018

Paul Tudor Jones has made his living picking trend reversals. He considers them low-risk opportunities. You may get cut five or 10 times, but with diligence, you can also catch huge moves. 

One of our funded traders, Trisha B., did just that — shorting Crude Oil when it hit contract highs near $70 per barrel. In this week's episode of The Trade, Coach Dan Hodgman takes a look at that trade and goes over some of the mental fortitude that Tricia had to exhibit to ride the trade for more than $1,000 in profits.

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

$5K in One Crude Oil Trade

Posted by TopstepTrader on April 16, 2018

With volatile markets, traders are able to take advantage of some big moves, without having to take on more risk. In this latest episode of The Trade, Performance Coach Dan Hodgman talks about a trade by Alexander K. (Latvia) put on. This trade is unique in a couple of ways.

First, the fact that Alexander had the patience to ride this for $5,000 in profits is unusual. That tells you something about the psychology of choosing a target and then sticking with it when the trade moves in your direction. 

Second, Alexander sold Crude Oil at the lows of the day. Oftentimes, inexperienced traders will look to buy the market at the lows, letting it make lower and lower lows and then puke out the position. Instead, Alexander did the opposite. He didn't fight the market and sold at the lows of the day, capturing a $1 move. By trading 5 contracts, that equated to $5,000 in profits.  

But the best part of Alexander's trading was that he did this all with a personal daily loss limit of $400. Think about that risk / reward ratio: he has the opportunity to make more than $5,000 in a day without worrying about losing more than $400. It will take him 12 max losing days to give back that $5,000 in profits to the market. Those are the types of risk / reward setups that enable long-term success. 

 Here's how Coach Dan breaks down Alexander's trade.

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

An Hour to Better Trading: This is Your Weekend Curriculum

Posted by TopstepTrader on April 07, 2018

Just because markets are closed doesn't mean that you can't make progress in your trading. And while you should absolutely take some time this weekend to unwind and get away from markets, you should also take time to work on those things you can — all so that you will be a better trader on Monday. 

Here are three resources that you can go through in less than an hour. If you do that, we promise you'll be in a better place when markets reopen. 

Enjoy. 

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

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

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

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

This is How You Trade Around Events

Posted by TopstepTrader on March 12, 2018

In the latest episode of The Trade, Performance Coach Dan Hodgman talks about one of our funded trader's trades last Wednesday, March 7. The trade occurred right after the ADP Employment Report, a report that showed 235,000 jobs were created in February — more than the 200,000 jobs expected. 

One might expect a better-than-expected jobs report to cause a sell off in the Ultra Bond (UBM8) since the market might anticipate that the Federal Reserve will raise interest rates more this year. However, bond prices failed to sell off.  That could have been the spark that funded trader Craig S needed to initiate a long.

Some parts of this trade were good, while others may be more questionable. Here's Coach Dan's take on how to trade an event after it happens.

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

Become a Better Trader by Monday in 1 Hour: Your Weekend Curriculum

Posted by TopstepTrader on March 10, 2018

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

This is our first in a new weekly recap that's meant to help traders improve over the weekend in 1 hour or less. It's a collection of a few tips, takes and articles — some of which will be produced by TopstepTrader and some not. 

In this week's hour, we highlight the 3 Laws of Short-Term Scalping, the 7 Cardinal Sins Traders Make, and an Interview with Melissa M, a funded trader. 

Enjoy. 

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

These are the 3 Rules of Short-Term Scalping

Posted by TopstepTrader on March 07, 2018

In the latest episode of our new trading segment, The Trade, Performance Coach Dan Hodgman takes a look at a successful Nasdaq futures (NQ) trade by Russell B. from Minneapolis, Minnesota. Russell's style is a little different than the other two trades that we've covered. He tends to be short-term minded and keeps very close stops — more of a scalping type trader than a position trader.

Given that his style is a little different, Coach Hodgman talks about what someone who is more of a scalper should think as they put positions on. Russell's risk in the trade was 2.5 Nasdaq points — $100 on a 2-lot. His target was more than 10 points higher, and he was able to eek out a $440 gain in less than 5 minutes. 

Check out the rules we learn in this week's segment.

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

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