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TopstepTrader

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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

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

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

Taking Advantage of Trading Opportunities Right Now

Posted by TopstepTrader on September 22, 2018

To say there is a lot of geopolitical risk in the market right now would be an understatement. There's a palpable sense of populism rising — whether that's at the heart of the U.S. / China trade wars, Brexit negotiations or a whole host of other issues  that is threatening to shake up the economic status quo. What is that going to do to global markets? And how can traders take advantage of the rising opportunity?

Those are the questions that we tackle in the latest interview with DailyFX's chief currency strategist, John Kicklighter. John breaks down the recent moves in global macro markets, how that may impact forex trading and lessons that he's learned from his 20 years of trading experience. 

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Topics: Trading Basics, Limit Up!, Forex, September Trading Insights, John Kicklighter

4 Things to Do When There's No Trade to be Made

Posted by TopstepTrader on September 19, 2018

Overtrading. It's a bad habit.

Sometimes, we make trades for the simple fact that we are in front of our computers and the markets are open. Then, we hold onto those trades and make them positions — it's a vicious cycle that often ends up in losses and ties up capital that we could be using when the market does present an opportunity.

So, instead of placing that next trade when the market isn't there, here are four things to do instead.

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

Learn by Doing, Learn by Teaching

Posted by TopstepTrader on September 18, 2018

Experts say that there is no better way to learn to trade than to teach. That's something that Steve Burns, trader and the founder of New Trader U, has taken to heart. From his time trading the dotcom boom and bust to trading through the Great Recession of 2008 to today, Steve has been incredibly passionate about markets and  shares that passion openly on Twitter (@SJosephBurns). 

In this interview, Steve tells Eddie Horn how he found his niche in trading and how he would lessen the learning curve if he were starting out today. 

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Topics: Trading Basics, Limit Up!, Futures, Forex, September Trading Insights, Steve Burns

You Need a Trading Community - And We Have One

Posted by TopstepTrader on September 16, 2018

We are halfway through our September series focused on helping traders get better every day. We've covered the importance of preparation. We've taken a look at some funded traders (Brian from Brisbane and Daniel from Arizona) and shared insights about how they've found success.

And through it all, we've tried to show how challenging trading is, that's why we pointed out how "Bond King" Bill Gross made an amateur trading mistake this year that cost his investors $150+ million. 

If you've been following along — and we hope you have — hopefully you've incorporated some of these ideas into your trading. But if you're working to make change, you are going to need a community.

That means you should join our private Facebook group. Here's why.

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Topics: Trading Basics, Futures, September Trading Insights

This is How Crazy the Market was in 2008

Posted by TopstepTrader on September 15, 2018

This is our second piece in a three-part series on the 2008 Financial Crisis. For the first piece, please see “10 Years Later: 4 Universal Trading Lessons from the Great Recession.”

Under normal conditions, the stock market goes up and down. So corrections (aka losses) happen from time-to-time. They’re expected and not much of a challenge for our economy to navigate.

But 2008 was different. That year, markets were not operating normally. Because the economy was not operating normally. Here’s a breakdown at some of the moves in equities, commodities and currencies.

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

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