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Bittersweet New Highs

Posted by John Doherty on January 16, 2020

The Failed Top Trade

Earlier this week I posted a blog article laying out guidelines and best practices for picking tops. As it turns out, this has been a textbook week to put them into practice…

Failed top trades have been a great scalp the last few days. The failed top trade consists of putting an offer in 2 ticks above the high with a 6 tick stop and a 12 tick profit target (for the e-mini S&P 500 futures).

This is the type of trade that should never be turned into a loser once it turns into a small winner. If it goes your way even a little, you should be prepared to scratch before it goes against you.

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

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

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

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

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

3 Rule Changes for Our New CME Micros Trading Combine

Posted by TopstepTrader on October 09, 2019

A brand new product deserves a brand new set of rules. Therefore, we are using a different set of evaluation criteria for the CME Micros Trading Combine we released today. We designed this new Trading Combine to appeal to swing and position traders, and the new rules reflect this. We highlight the rule changes below, what they mean, and why they're important for your trading. Dan Hodgman even makes an appearance to breakdown the opportunity in detail. Trade well!

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Topics: Equities, CME, Micros

How David Tepper Made $7-Billion Calling the Bottom

Posted by TopstepTrader on August 11, 2019

Is it possible to be a middle class billionaire? David Tepper would certainly like you to think so. On one hand, he lives in a relatively modest home in New Jersey — then again, he also claims a $50-million mansion in the Hamptons and owns the Carolina Panthers. 

He’s unabashedly crude, but actively philanthropic. Many see him as a god-like figure in the world of trading, while others think he's just an “a**hole.” What no one can deny, is that David Tepper is pretty damn good at picking stocks. 

Today's installment of the 7 Greatest Trades of All-Time, explores how Tepper made $7-billion buying distressed financial assets in the depths of the Great Recession.

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Topics: Equities, trading strategy, trading history, Greatest Trades, David Tepper

🔥Holy Moly... We Got Ourselves a Trade War 🔥

Posted by Jack P. on August 06, 2019

Folks, I must confess that I didn't pay much attention to the markets this weekend. I was both flat, and extremely interested to see what Shaquille O'Neal could do as a DJ at Lollapalooza (the answer is that he continues to be one of America's greatest cultural treasures). It was a rough Monday morning. I placed an online order at the wrong Starbucks, then proceeded to do a literal spit-take once I finally looked at the S&P futures quotes...

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Topics: Market Updates, Futures, Equities, Fed

Funded Trader Yose Travels from Dominican Republic to Chicago to Talk Shop

Posted by TopstepTrader on August 04, 2019

Some of you may know Yose. He's one of our favorite success stories here at Topstep. Since getting funded, he has become a formidable futures trader, quit his day job, and secured major outside capital to back his personal account. We're thrilled to have been part of his journey, and lucky to have had him in the Topstep Studio this week, all the way from the Dominican Republic. Traders of all levels can learn a lot from his insights, so we certainly hope you check out this very special episode of the Topstep Weekly Preview. Enjoy!

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Topics: TopstepTrader Funded Traders, Trading Lessons, Futures, Equities, Yose, Weekly Preview, Fed

Professional Wrestling Fans Should Love These Markets

Posted by Jack P. on August 01, 2019

The news driving markets continues to play out like a professional wrestling match. There's a little bit of everything: heroes, villains, threats, heel-turns, over-dramatic commentary. The only major difference is that at least a handful of people at a wrestling match presumably know exactly how it will end (apologies to any readers if we just ruined the magic of the WWE).

Now would be a good time to get caught up on the action so far...

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Topics: Market Updates, Futures, Equities, Fed

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