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Myth Busting: No, You Won't Trade Better With Live Capital

Posted by TopstepTrader on August 07, 2018

Whether it actually takes 10,000 hours to learn a skill is up for debate, but the old adage: “practice makes perfect” remains true, especially for new futures traders. But for some traders tempted by the prospect of making a profit, jumping right into the trading without practicing first makes more sense. How can you really figure things out without having some skin in the game, right? Wrong.

That's why Senior Performance Coach John Hoagland even goes so far as to say that simulated trading is the key to trading success. Hoag should know. He has more than 30 years of experience in the futures industry, working his way up from being a runner to a broker at the Chicago Mercantile Exchange and Board of Trade. At TopstepTrader, Hoag works with many traders (new and experienced alike), some of whom mistakenly believe that they’ll do better once they trade with real cash. 

Here’s why they're wrong.

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Topics: Futures, Trading Basics, Forex, Lydia Finkley, Linda Bradford Raschke, Profit Trading, Simulated Trading, Currency Pages

The 3 Largest Risks to the U.S. Dollar Rally

Posted by TopstepFX on July 25, 2018

“The EU is in an existential crisis. Everything that could go wrong has gone wrong.” - George Soros, May 29, 2018

Populism and anti-EU sentiment. Trade wars. Brexit looming. The global fundamentals underlying every major currency pair is on shifting sand — all the while interest rates are normalizing.

But in this environment, the U.S. Dollar caught a bid. Since highs above 1.25, the pair shed 6%, briefly breaking below a long-term trend line that supported price during the 2017 rally (red line). Right now, the pair is consolidating between the August/September 2017 high near 1.21 and the October low, at 1.1550 (black lines).

While I tend to believe the EUR/USD bounce appears temporary, with expectations that the market will head down towards 1.13, I think it’s always important to look at the opposite case.

For the U.S. Dollar bulls out there, here are the three biggest risks to continued Dollar strength.

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Topics: Trading Basics, Forex, EUR/USD, Currency Pages

Funded Forex Trader's Secret to Profits: Master 1-2 Major Pairs

Posted by TopstepFX on July 10, 2018

It's safe to say that Fez M. from Northampton, England's trading is going really well right now. He just became the first trader funded by TopstepFX in forex and TopstepTrader in futures after passing the TopstepTrader Trading Combine® yesterday. Plus, in a month of trading  a live TopstepFX Funded Account®, Fez has racked up profits, even making $2,700 in withdrawals. 

We recently sat down with Fez, a former techno DJ, to talk about his journey trading, what got him into markets and what advice he would have for others. Here’s what he said.

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Topics: Trading Lessons, Forex, TopstepFX Funded Traders, Currency Pages

Forex Trader with $4,100 in Withdrawals: For the Love of Trading, Set a Stop Loss

Posted by TopstepFX on June 18, 2018

Nikhil O. in Illinois, U.S.A. got off to a troubled start in his TopstepFX Funded Account®.

In his first three days trading, he lost more than 70% of his overall cushion — losing $930 of his overall $1,300 account loss limit for the $200K Trading Combine®.

But he turned that around, and five days later, his overall P&L was $325. In another week, he built a nice base of profits that led to more than $4,100 in withdrawals.

So what’s his secret? No secret — just a lot of hard work, lessons learned and dedication.

The real lesson is that Nikhil is just like you. He has a full-time job, but a passion to make a living trading. And to reach that goal, he’s working on maximizing his trading strengths and minimizing his weaknesses, which is why TopstepFX is a great place for him.

We recently sat down with Nikhil to talk about his journey trading and what he would tell other traders in the TopstepFX Trading Combine. Here’s what he said.

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Topics: Trading Lessons, Forex, TopstepFX Funded Traders, Currency Pages

The 3 Hottest Opportunities in the Forex Market

Posted by TopstepFX on May 23, 2018

The following was written and emailed to TopstepFX subscribers on Wednesday, May 16. To subscribe, start an account at https://app.topstepfx.com/register.

Heading into the summer, you might not expect this to be one of the most active times for the forex market. But in 2018, you can't make that assumption. 

Between the U.S. and China in a trade war — or trade dispute, depending who you ask — overall market volatility is staying high, presenting lots of opportunities to capitalize on. The GBP/USD has come $0.10 off its high, while the EUR/USD is down $0.08. 

The recent surge in the U.S. Dollar is among one of the three opportunities for forex traders to take advantage of. Here they are all the opportunities and why.

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Topics: Trading Basics, Trading Lessons, Forex, Currency Pages

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