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Yen Rally in Jeopardy Ahead of G20, Data Dump

Posted by TopstepTrader on June 27, 2019

Three months of Dollar losses against the Yen could be reversed if Presidents Trump and Xi reach some sort of breakthrough in trade talks this weekend. The event holds important implications for global financial markets, especially those with close ties to China (including Japan). It also comes ahead of important data on the economic front.

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Topics: USD/JPY

G-20 Preview: All Eyes on Trump-Xi Trade Talks

Posted by TopstepTrader on June 26, 2019

Stocks rallied to record highs last week and are on pace for the best June in 80 years ahead of the Group of 20 Summit in Osaka, Japan, on June 28 and 29. A high-stakes meeting between Presidents Donald Trump and China’s Xi Jinping will likely determine whether the stock market rally is sustained into the early days of July.

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Topics: China

Crude Oil Tests Key Levels Ahead of OPEC

Posted by TopstepTrader on June 24, 2019

Crude rose to its best levels in June as escalating tensions between the U.S. and Iran fueled large gains on Thursday and Friday. Prices are now testing key technical levels and price action will likely remain headline-driven heading into an OPEC meeting in early July.

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Topics: Crude Oil

The Fed Has Some New Rates and We Have a New Host

Posted by TopstepTrader on June 24, 2019

What’s it like to watch an options exchange grow in value by several orders of magnitude? You’re about to find out as this episode of Limit Up! Introduces its new host: Jeff Carter. Jeff is an accomplished trader, investor, adviser and former board member of the Chicago Mercantile Exchange. He’ll be joining Limit Up! As our new permanent host starting next week.

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Topics: Limit Up!, John Hoagland, MARKet Reaction, Dan Hodgman, Trader Therapy, Jack Pelzer, Jeff Carter

Tip of the Week: Play Small Ball

Posted by TopstepTrader on June 23, 2019

Not every trader needs to be swinging for the fences like an early-2000's Barry Bonds. Because frankly, I'm not aware of anything at the pharmacy that will turn you into a monster trader. Odds are you'll find it much easier to succeed by staying scrappy and just trying to get on base like future Hall-of-Famer  Ichiro Suzuki.

In this week's Tip of the Week, TopstepTrader's founder Michael Patak is talking trading and baseball, and explains why every trader should learn to play a little small ball.

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Topics: Trading Lessons, Futures, Michael Patak, Tip of the Week

Dollar Dips as Pound and Euro Rebound

Posted by TopstepTrader on June 19, 2019

The Dollar is giving back some ground against the Euro and the British Pound after several weeks of gains. The trend reversal comes as global Central Banks adopt a more dovish tilt, while Brexit uncertainty clouds the U.K., and as President Trump steps into the currency debate.

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Topics: Forex, US Dollar, Euro, EUR/USD, GBP/USD, economic data reports

Buy the Rumor, Sell the News

Posted by TopstepTrader on June 18, 2019

It's Fed season on this week's Limit Up! Podcast and the markets are still the markets.  On today's episode, Mark walks us through his feelings on gold. Danny and John then discuss keeping your emotions in check and how sometimes just stepping away is what you need to regulate yourself. Finally, Jack Pelzer channels his inner Cramer (Jim, not Cosmo) to bring you this week's latest segment: Kooky Currency.

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Topics: Limit Up!, John Hoagland, MARKet Reaction, Dan Hodgman, Trader Therapy, Jack Pelzer

Traders Brace for a Barrage of Key Events: Here’s What’s Coming

Posted by TopstepTrader on June 17, 2019

Stocks and bonds have been rallying, while yields fall and the Dollar slips, as weak economic data fuels expectations that the Federal Reserve will aggressively cut rates later in the year. That theory will be tested when the Federal Reserve Open Market Committee (FOMC) meets later this week.

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Topics: Futures, U.S. Treasuries, US Dollar, Crude Oil, economic data reports, European Central Bank

Tip of the Week: Every Victory Counts

Posted by TopstepTrader on June 17, 2019

Booking a huge winner isn't the only way to be victorious in trading. Sometimes scratching a trade or getting out of a loser can be just as big of a win. Even choosing not to trade at all on a certain day or at a certain time can be its own victory. It's easy to get down on yourself focusing on all the things that could have gone better. You should also be keeping track of all the things you've done right.  

In this week's Tip of the Week, TopstepTrader's founder Michael Patak explains why you should savor every victory in trading, no matter how small.

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Topics: Trading Lessons, Futures, Michael Patak, Tip of the Week

Keep Learning: 5 Ways to Stop Gifting Money to the Markets, Part 5

Posted by TopstepTrader on June 13, 2019

Rock star traders are made, not born. Nobody emerged from their mother’s womb and three years later started generating massive profits in the futures or forex market. It takes time – trading is a difficult pursuit and the learning curve can be steep. One might argue that, because markets are always changing, continued success requires lifelong learning.

(Note: this is the fifth in a five-part series. If you missed them, check out Part 1, Part 2, Part 3 and Part 4.)

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Topics: Trading Basics, trading strategy, Stop Gifting Money

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