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Funded Forex Trader: One Week In, $5,160 in Steady Profits

Posted by TopstepFX on December 09, 2018

What can you do a week into your TopstepFX Funded Account™? If you’re Shawn B. in North Carolina, you can make $5,160 in profits and put your trading account in a really nice spot heading into the closing weeks of 2018.

Shawn was in tune with the forex market all week, making $2,050 in EUR/USD and USD/JPY positions on his first day trading live capital. Shawn showed a lot of awareness of market conditions. He was not afraid to take a loss and reverse the position. He also wasn’t afraid to press a trade that was going well. In essence, he executed his momentum trading strategy to perfection.

On his second day in his account, Shawn lost $311 before gaining $1,639 and $1,782 on consecutive days on December 6 and 7 — all for $5,160 in realized profits. 

But even with his current performance, Shawn said he still does not consider himself a consistently profitable trader. Yet. Instead, he is constantly working on his trading.

Here’s advice he shared about what's going well in his trading and what he would tell other traders looking to improve and earn a Funded Account.

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Topics: Forex, TopstepFX Funded Traders

This is the Worst Thing You can do while Trading in Heightened Volatility

Posted by TopstepTrader on December 05, 2018

This is an incredible trading environment. Yesterday's moves in U.S. equity, interest rate and forex markets offered tremendous opportunities. This is a time when traders have to adjust their strategy, says Peter Davies of Jigsaw Trading. 

Peter recently sat down with Topstep's Eddie Horn to talk about how to trade volatility — from someone who has been involved in markets from before the 1999 tech boom and bust. Peter offers tactical advice for traders, including what the absolute worst adjustment you can make in heightened volatility is and how you can improve your performance each and every day. 

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Topics: Trading Basics, Limit Up!, Forex, Futures, Peter Davies

3 Things I Did to Pass Step 1 and Step 2 of the Trading Combine® in 15 days

Posted by Jason Love, Oil Trading Group on November 06, 2018

Hello, my name is Jason Love, and I am the Founder and Lead Trader for the Oil Trading Group.

As a way of quick background, I have been affiliated with TopstepTrader in one capacity or another since 2012. I have been a funded trader, educator and webinar presenter. I strongly recommend TopstepTrader to all the traders with whom I come in to contact. Even if the trader has no intention of becoming a funded trader, I advise them to take (and pass) a Trading Combine® prior to risking their own funds.

The reason for this is quite simple: if you can pass a Trading Combine using TopstepTrader’s parameters, then you will be in a better position to handle your live trading account and, ultimately, in a better position to make money trading futures.

That’s why, from time-to-time, I will also enter a Trading Combine and trade it live in front of my trading room audience. The purpose is to demonstrate live what we talk about all the time: the fact that the number one job of a trader is to preserve capital. Making money is secondary to preserving capital.

Here are three things I did to pass my latest Trading Combine in 15 days.

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Topics: Trading Basics, Futures, Performance Coaching

Trade Better: How to Adjust to Volatility and Avoid Frustration

Posted by TopstepTrader on November 04, 2018

Trading can be frustrating. Perhaps never more so than when you think you are seeing the market clearly and yet, you can't seem to take advantage. 

That was the topic of a post on Topstep's private Facebook community, where Lee A. said:

"I'm again having the comical problem of being 100% correct in directional moves, yet getting stopped out or filling entries that go nowhere. And just found myself upside down once again today and had to cut a trade at a big loss. Can anyone share some wisdom?"

The post hit a nerve within the community, particularly given the recent volatility that has some traders wondering how to adjust their styles in a new environment. So, Performance Coach Dan Hodgman and our Content Manager Mark Meadows got on Facebook Live to talk through their recommendations for adjustments traders should make to continue to make money trading futures. Enjoy. 

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Topics: Trading Basics, Futures, Forex, Performance Coaching

Success Story: How One Funded Trader Made a $7,000 Withdrawal in October

Posted by TopstepTrader on November 03, 2018

Why have we been saying that markets right now are full of opportunities? Because volatility plus risk management can equal big profits. Take just one example, Jacob B. in Utah, who started in his TopstepTrader Funded Account™ on October 1 and amassed a healthy amount of profits and a $7,000 withdrawal check by the end of the month. 

What can you learn from how Jacob managed his account and took advantage of what the market gave him? 

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Topics: Trading Basics, Futures, TopstepTrader Funded Traders

5 Questions with Luis M., a Funded FX Trader

Posted by TopstepFX on October 15, 2018

Luis M. in California spends his days as an emergency medical technician. So it’s unsurprising that he would be accustomed to making the quick decisions that come with intraday trading. And unsurprising that he would do well.

10 days after starting his Funded Account™, Luis already made $900 in withdrawals on his profits.

But that’s only part of the story. Luis knows that “failures are what help us traders improve.” So we asked him to share his journey and lessons he’s learned along the way.

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Topics: Forex, TopstepFX Funded Traders

This is How to Trade Through Volatility: Trading Through the 2008 Crisis

Posted by TopstepTrader on October 13, 2018

10 years ago, markets presented opportunities that we haven't seen since — if you were disciplined and poised to take advantage. It's a bit ironic that on the tenth anniversary of the 2008 financial crisis, we are seeing current markets go a little haywire. 

In this documentary, we talk with five traders about what it was like to trade through the 2008 financial crisis, how they adjusted and what their thoughts are for markets 10 years later. You are not going to want to miss it. 

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Topics: Trading Setups, Trading Basics, Anne-Marie Baiynd, Yra Harris, Equities

A Poker Champion on Making Better Decisions

Posted by TopstepTrader on October 01, 2018

You may know Annie Duke as the World Series of Poker Tournament of Champions winner in 2004. But you don't make more than $4.2 million in lifetime earnings on the professional poker circuit without knowing how to make decisions and manage risk. 

For Annie, that's been a lifetime passion — and one that she is pursuing more than ever now that she is retired from professional poker. 

In this interview with Topstep's Eddie Horn, Annie details why our decision-making is flawed and how we can change the way we approach problems to reach better decisions. Annie takes complex topics like "resulting" and "hindsight bias" and breaks it into easy-to-understand pieces that will improve your trading. 

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Topics: Trading Basics, Limit Up!, Forex, Annie Duke, Futures, Currency Pages

Patience Pays: How a Funded Trader Cashed in on a $2,700 Trade

Posted by TopstepFX on September 26, 2018

Imagine being in one trade over four days, watching your P&L go up $1,000 to even, back to up $1,000 to even as the market gyrates 40-50 pips over hours. Your long bias is still valid, so you sit in the trade, waiting for things to play out.

To compound matters, add that the last time the market did this, it was a false breakout that caused you to lose some money.

That's the scenario that Gabriele T. from Italy found himself in last week when he was long EUR/USD after it broke out above 1.1650. Yet Gabriele was able to be patient and let the trade work out, a decision that ultimately helped him profit $2,700. 

In this week's The Trade, we break down the market setup and what Gabriele did so right. 

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Topics: Performance Coaching, Trading Setups, Trading Basics, The Trade, EUR/USD, Forex, TopstepFX Funded Traders

3 Stunning Lessons in the Collapse of a $5 Billion Hedge Fund Run by Geniuses

Posted by TopstepTrader on September 23, 2018

Today, we continue our September series about how to get better trading every day. And like so many lessons, this one focuses on what you can learn from someone else's missteps. Before there were crises at Bear Stearns, Lehman Brothers or MF Global, there was Long-Term Capital Management (LTCM).

(The irony of the collapse of a hedge fund called "Long-Term" should not be overlooked.)

Though LTCM was run by Nobel Laureates and  geniuses, it made one trading mistake that cost it big, leading to a rescue 20 years ago. In the rescue, LTCM partners' capital, which once stood at $1.9 billion, was wiped out completely. 

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Topics: Trading Basics, Futures, September Trading Insights, Forex

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