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$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. 

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

Improving Your Trading is About Learning: Interview with a Funded Trader

Posted by TopstepFX on September 04, 2018

To trade well, you have to be focused on learning. Every experienced trader will tell you that — whether they are going through the Trading Combine, have earned a Funded Account®, or are one of the greatest traders of our era.

So, it wasn’t completely surprising that Daniel H. in Arizona, a TopstepFX funded forex trader, stressed how learning played such a critical role in his development. “You’re going to go through learning pains,” Daniel says. "But I have made progress because I focused on learning and overcoming my weaknesses." 

Daniel, who has traded for four years, is now trading in a Funded Account with $500,000 in forex buying power. Here’s where Daniel has focused his learning.

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

What I Learned in 11 Years of Forex Trading: New Funded Trader

Posted by TopstepFX on August 21, 2018

What do you see when you look at a price chart? Tim P. in the United Kingdom, TopstepFX’s latest funded trader, says that he sees human emotions. At first, he wondered at the ticker symbols as the crossed his television screen. But as he learned more, he was drawn to the psychology of trading.

“The financial side doesn’t really interest me as much as the prospecting,” says Tim. “You can track human emotions on a chart.”

So what does this student of human nature have to say about trading? Here are a few of his insights after almost 11 years as a trader.

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

Trade Forex with Our Capital

Posted by Michael Patak on August 15, 2018

You asked. We listened. Over the past eight years at TopstepTrader, so many traders have asked us to take the risk out of trading forex like we've done for futures. 

And for good reason. Studies out of a French regulator show that retail forex traders lost on average €10,900 between 2009 and 2012. That's more than $12,000. Or ¥1.4 million. 

So over the past eight months, we've been quietly testing our Forex Trading Combine®, securing user feedback and funding traders. Traders like Nikhil in Illinois, who made more than $4,000 in forex profits trading with TopstepFX. And Fez in England who withdrew more than £2,000 — and in the process became the first trader funded by both TopstepTrader and TopstepFX. (BTW, his futures trading is going well ... he made $1,147 in profits on Monday!)

Here are highlights of the Forex Trading Combine, but check it out for yourself

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Topics: Trading Lessons, Forex, Currency Pages

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: Trading Basics, Forex, Futures, Linda Bradford Raschke, Profit Trading, Lydia Finkley, 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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