<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=174932623114557&amp;ev=PageView&amp;noscript=1">

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.

Read More

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.

Read More

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

$150+ Million Loss: Bond Legend Bill Gross Just Made This Amateur Trading Mistake

Posted by TopstepTrader on September 14, 2018

You think that trading legends don't make the same mistakes that you do? You'd be wrong. This year, Bill Gross cost his investors more than $150 million in losses — 8% of his $2 billion portfolio — because he made a very common trading error. 

Here's what it is. 

Read More

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

Funded Trader Advice: Realize What Drives You to Profitability

Posted by TopstepTrader on September 13, 2018

Some people start trading because of the allure of big profits. That is not the case for Brian G. of Brisbane, Australia. He says he was drawn to the markets for a different reason entirely: for the challenge. “Trading is difficult,” he says. “And like most things in life the greater the complexity the greater the reward.”

Brian has faced the challenge of trading head on. For example, though he has amassed profits to withdraw more than $1,100 in his first 25 trading days, he is still working on improving his risk-to-reward ratio. That’s because he’s found himself giving away more on his losing trades than he makes on his winning trades. On his average winning trade, Brian makes $197.46. But he risks $217.58 on his average losing trade.

Brian is constantly learning how to navigate the intricacies of the markets he trades — Nasdaq, E-mini S&P 500 and Russell 2000 futures. Let’s take a look at some of the lessons he’s learned.

Read More

Topics: Trading Basics, Futures, September Trading Insights, TopstepTrader Funded Traders

This One Key to Preparation Can Eliminate Your Market Bias

Posted by TopstepTrader on September 11, 2018

"By failing to prepare, you are preparing to fail." — Benjamin Franklin

The market is not going to give you anything. If you don't prepare for the trading day, your screen won't flash a message to you telling you when the perfect time to BUY or SELL is. You have to put in the work. 

That's why we found this conversation between Anthony Crudele of Futures Radio Show and legendary trader and mentor Jim Dalton so interesting. Here's the key to Jim Dalton's preparation that allows him to crush the market.

Read More

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

To Trade Better, Stop Monday Morning Quarterbacking

Posted by TopstepTrader on September 10, 2018

There is a difference between reviewing your trades and being a Monday morning quarterback. Being a Monday morning quarterback is about the ifs and buts. If I would have held onto that /ES short, I would've made $1,000+! I should've just got out of that trade, and I would have saved $500! 

In short, it's about the outcome of what happened — not the performance. And focusing on the outcome will kill your trading. Here's what to do instead. 

Read More

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

Biology Set You Up to Fail at Trading

Posted by TopstepTrader on September 09, 2018

You love trading. And you may think you were born to do this. You weren't. No one was.

In fact, everything about our biology is working against our success. Think about it. What are the traits of a successful trader. A successful trader is cool under pressure. She's disciplined, not fearful. She's focused on long-term growth, not short-term excitement. 

And that's not us. Our brains and biology are hard wired after tens of thousands of years as hunter / gatherers. But that doesn't mean that we can't learn a new mindset. That's what today's lesson is about — awareness and understanding of our trader's mind, so that we can better succeed at trading. 

Read More

Topics: Trading Basics, Limit Up!, Futures, Forex, September Trading Insights, Rande Howell, Trading Psychology

10 Years Later: 4 Universal Trading Lessons from the Great Recession

Posted by TopstepTrader on September 08, 2018

The next financial crisis will not look like the last. That we can be sure. But while that may be true, there are a lot of lessons and gems packed into the financial crisis that hit hardest in September and October 2008, 10 years ago this week.

In this timeline, we take a look at what happened, when, and four key trading lessons you can take away from it.

Read More

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

What It Takes to Build a Long-Term Trading Career

Posted by TopstepTrader on September 07, 2018

One of the things that have helped humans progress is the fact that we've been able to build on our sum of knowledge over the course of our existence.

If you are trying to become a better trader — our theme here at Topstep for September (see our other articles) — alone, then you are doing it wrong. You have to learn from other traders. You have to build on their years of experience and knowledge. 

And Linda Raschke is one of those traders that you should know about. Our latest interview with her is action packed with insights.

Read More

Topics: Trading Basics, Limit Up!, Futures, Forex, Market Wizards, Linda Bradford Raschke, September Trading Insights

One Rogue Trader, $2 Billion in Losses: Here's the Lesson

Posted by TopstepTrader on September 06, 2018

Seven years ago, in September 2011, trader Kweku Adoboli lost UBS $2.3 billion in one of the largest rogue trading incidents in history. Adoboli was later convicted of booking fictitious trades in order to cover up for mounting losses. Reports suggest that though UBS authorized his trading desk to have an intra-day risk limit of $100 million, Adoboli's trades carried actual risk that peaked at $12 billion. 

But Adoboli's excessive risk isn't the lesson here. Instead, the real lesson comes from what Adoboli posted on Facebook on September 6, 2011.  

Read More

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

Follow Us:

Subscribe to Email Updates

Recent Posts

Popular

Posts by Topic

see all