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Are You Trying To Pick Tops?

Posted by John Doherty on January 13, 2020

I went out on a limb during Monday morning’s Market Forecast video by saying that the January Break started with the poor jobs report Friday. It was my first contribution to the daily video, and since it wasn’t a very good call, hopefully it won’t be my last. In hindsight, coming out swinging on my first day telling people to short the S&P probably wasn’t the best way to kick things off.

On a quiet news day, a thin-to-win type of trading environment took over, and before the noon hour struck (Central Time) my early call for a pullback was turned to dust. Even though the S&P 500 futures didn't print a new high until near the close, I don’t feel vindicated in the least bit. I know I’m toast on this one. The old adage that says you should “never short a quiet market” rings as true today as the first day it was written.

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Topics: Market Updates, Trader Behavior, Trading Lessons, Trading Psychology, Futures, Equities, E-Mini S&P, Trading Education, Stocks, video, Market Forecast

5 Steps for Creating a Great Trading Plan in 2020!

Posted by TopstepTrader on January 13, 2020

Following up on last years list years list of '5 Steps For Creating A Great Trading Plan In 2019', Jack, Dan, John and Mick are back to give you a fresh perspective for 2020! 


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Topics: Performance Coaching, Coach's Playbook, Trading Lessons, Trading Psychology, Trading Plan, Mick Ieronimo, John Hoagland, Dan Hodgman, Jack Pelzer, video

More Highs Please!

Posted by TopstepTrader on January 09, 2020

Got another one this morning! After the 8:30 CT bell, the S&P 500 and Nasdaq futures both notched another high print on their belts. Dow futures came close, falling shy by just a few ticks, and then came roaring back about an hour later to complete the trifecta! 

I wouldn’t necessarily say we’re off to a booming start, but the S&P 500 futures are up just over 1% since the Dec. 31 close, and has printed a new all-time high in 4 of the 6 trading sessions so far this year.

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Topics: Market Updates, Futures, Equities, Nasdaq, E-Mini S&P, Stocks, Dow

You Should Have a Trading Journal. So Why Don't You?

Posted by Peter Davies on January 08, 2020

Every educator worth their salt will tell you, it’s important to journal your trades, to keep a record so you can track your progress.

However, almost all traders fail to heed this advice. In fact, of the traders I work with, I’d say that less than 5% keep a consistent trade history. It’s not just laziness at play here; there are practical and psychological reasons that make keeping a journal a challenge.

Let’s start by looking at some of the reasons you might avoid journaling your trades.

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Topics: Peter Davies, Trading Plan, Futures, trading strategy, Jigsaw Trading

Going Deep on Adam Grimes’ Approach

Posted by Pat Crawley on January 07, 2020

Adam Grimes is one of the best-known figures in trading media. He’s the author of The Art and Science of Technical Analysis and created a free trading course called The Art and Science of Trading. Adam is primarily a trader of the major futures contracts but will take a trade in any market that presents an opportunity.

Adam's first foray into trading was through a guru who taught his students to apply Martingale betting systems to agricultural futures. Armed with the guru's system and his knowledge of agriculture owed to growing up on a farm, Adam thought he had struck it rich. Until he blew up his account. According to Grimes:

“No matter where somebody were to start, you can’t start worse than I did.” 

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Topics: Trading Psychology, Futures, Linda Bradford Raschke, Trading Education, Adam Grimes

Resilience Is a Thing

Posted by TopstepTrader on January 06, 2020

After sustaining early losses before markets in Asia closed early Monday morning, stocks in the U.S. and Europe slowly began to recover, with the biggest boost coming right on the 8:30 CT opening bell. In the first 2 hours of regular trading hours (RTH), the S&P 500 futures had rallied more than 20 handles, and the Dow and Nasdaq followed close behind.

It’s debatable to say which sector was really the front runner, but most people will say it was tech. In the same time period that the S&P rallied 20 handles, the Nasdaq rallied more than 200 points, with Amazon and Cisco leading the charge.

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Topics: Market Updates, Futures, Equities, E-Mini S&P, Stocks

From 31 Years on the Trading Floor to Academia with John Nyhoff

Posted by TopstepTrader on January 06, 2020

Trading is an adrenaline rush. But when that rush starts to feel like a drag, it might be time to look for your next steps. Our guest this week on Limit Up! spent 31 years on the floor before making the transition to academia and private consulting. John Nyhoff, whom Jeff used to trade with on the floor, stopped by to chat about what it’s like to make the leap.

John discusses the adjustment period he underwent just to get used to the amount of free time he’d acquired thanks to school breaks. John also talks to Jeff about his predictions for where the financial market is headed in 2020.

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Topics: Limit Up! Podcast, trading strategy, Jeff Carter

10 Biggest Funded Trader Withdrawals of 2019: Part 2

Posted by TopstepTrader on January 05, 2020

This year, Topstep funded traders took hundreds of thousands of dollars out of the markets without risking a dime of their own capital. As we wind down 2019, we though it might be inspiring to showcase a few of the biggest checks we wrote in the past 12 months. 

Today, we're counting down the top 3 biggest weekly withdrawals of 2019.  Starting with...

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Topics: TopstepTrader Funded Traders, Futures

Oil Spikes, Equities Sell Off as Iran Vows Revenge

Posted by TopstepTrader on January 03, 2020

Just yesterday, we were celebrating market highs. And then everything changed. 

Last night (Chicago-time), the U.S. ordered an airstrike that took out a top Iranian general who, by most accounts, was very dangerous, but much beloved by Iran. Iran vowed that it will revenge the death, while the U.S. and its allies in the region are taking measures to minimize any potential retaliation. 

And markets are responding in kind. February Crude Oil ($CLG0) and Gold spiked—as you could imagine. Crude Oil is up 3.7%, or $2.25, at writing, while Gold gained 1.4%, or $21. Simultaneously, the budding tension caused traders to sell off equity futures in favor of the perceived safety of U.S. Treasury Bonds. 

Regardless of what happens today, the landscape shifted... at least for now. Here's what you have to know and, more importantly, what you have to do.

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Topics: Futures, E-Mini S&P, Crude Oil, Iran, President Donald Trump

Will Santa Show For Stocks?

Posted by TopstepTrader on January 02, 2020

ALL-TIME HIGHS! At least in Dow, Nasdaq and S&P Futures. Thanks Santa! 

But how much value does Santa really bring to the stock market after his rally? Well, according to the Stock Trader’s Almanac, the S&P 500 has a high historical probability of posting an average gain of 1.3% in the last five trading days of the year and the first two trading days of the new year (The Santa Claus Rally). 

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Topics: Market Updates, Futures, Equities, E-Mini S&P, Stocks, Holidays

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