Trading isn't easy. Even profitable traders will tell you that they are still working to become better and limit the mistakes they make.
That's why we work to share insights from everyday traders, legendary investors and our funded traders. Together, these stories paint a picture of what it takes to be successful in markets. Here are five can't miss stories and what they can teach you - just in time to incorporate for the New Year!
- The Secrets Behind $47K in November Withdrawals
In November, TopstepTrader's funded traders withdrew more than $47,000 from their Funded Accounts. The big reason why they've been so successful recently: they have focused on catching a piece of the daily trend, regardless of any personal view as to where the markets should go.
- Forget P&L and Focus on Good Decisions: 4 Questions with a Funded Trader
David C. in Colombia hasn't been trading for long - less than a year. But since starting, he has jumped in head first, working on a strategy for eight to 10 hours a day. That has helped accelerate his learning curve, but he still went through the same mistakes as most other traders. His secret to withdrawing $7,700 in November was ignoring profits and focusing on good decisions.
- These 4 Money Management Tips Helped This Trader Build a $5.4 Billion Fortune
Money management is at the heart of good trading. If you don't believe us, you can't ignore the success of someone like Bruce Kovner, a trader that amassed a $5.4 billion fortune trading. He preaches discipline, respect of the market and the practice of always having a stop in place.
- A Decade In, Risk Management Takes Hold and Profits Follow: Interview with a Funded Trader
Unlike David above, Julian E. in New Jersey has been trading for more than a decade. But he's never had success in the markets like he's experiencing now after withdrawing more than $5,000 from his Funded Account this month. The reason he's doing so much better - he's not trading every day and instead is focusing on a single, profitable event-driven strategy.
- Inside the Life of a Full-Time Oil Trader - Limit Up! with Tracy Shuchart
Many traders in the TopstepTrader community want to use TopstepTrader as a stepping stone to become a full-time trader. If that's something that you would like to do, you have to listen to this conversation with Tracy Shuchart - an oil trader that quit her job to trade full time. She talks about what she does every day to prepare for the market and how much work goes into trading both ahead of the open and after the close. (NOTE: If you're thinking about becoming a full-time Oil trader yourself, you might want to get started by checking out our Beginner's Guide to Trading Crude Oil Futures)
If you have any questions or feedback, please leave it in the comments.