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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

This Trader Blew Up Two Trading Accounts. This is Her Secrets to Finally Becoming Consistent

Posted by TopstepTrader on July 03, 2018

Like most forex traders, Lydia Finkley (@faithmight on Twitter) didn't get off to a successful start trading. She says that her main challenges stemmed from a problem that most traders experience: over-trading.

That, when combined with the high leverage in a forex account, is a recipe for disaster. And Lydia knows that well. She blew up two trading accounts (only two?!) before finally finding consistency. 

In this interview, Lydia talks about those early challenges and the three things she did that changed the game for her. 

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Topics: Trading Basics, Limit Up!, Forex, Lydia Finkley

The Best Way to Bounce Back From a Major Trading Loss

Posted by TopstepTrader on June 20, 2018

Major trading losses are part of the game. Just ask any futures or forex trader. Every one of Jack Schwager’s Market Wizards has a story of a spectacular loss. And chances are that if you’ve been trading for any time you do too.

But what separates the successful trader from the unsuccessful trader is what happens after the loss. The successful traders say, “never again.”

The unsuccessful traders allow their decisions to be determined by revenge trading. They start seeing red – both in their temper and their P&L.

Instead, here is how you can bounce back and learn from your trading.

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Topics: Performance Coaching, Trading Basics, Forex, Futures

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

Hold on to Your Hats: Summer Trading is Going to be Full of Opportunities

Posted by TopstepTrader on June 07, 2018

Summer trading is usually a grind. Not this year. At least that's not what we're expecting. Between the interest in markets spurred by the surge in volatility that started in February, important trading levels (like new highs in equity futures, and grains markets hitting their peak, the Summer of '18 may present some great opportunities to profit trading. Here's how.

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Topics: Performance Coaching, Trading Combine, Coach's Playbook, Forex, Futures

Trade Better Now: Your Weekend Curriculum

Posted by TopstepTrader on June 02, 2018

Regardless of how things turned out last week, next week is a mystery. What are you doing this weekend to get better at trading?

Luckily, TopstepTrader has you covered. Here are three resources that will make a huge impact on your trading next week, but take less than an hour to check out. 

“A peak performance trader is totally committed to being the best and doing whatever it takes to be the best." — Dr. Van K. Tharp

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Topics: Trading Basics, Forex, Futures, Trading Setups, Weekend Curriculum, John Hoagland

The Most Important Metric in Trading (Hint: It’s Not Your P&L)

Posted by TopstepTrader on May 29, 2018

Metrics can be a lifesaver for a trader. Without a way to evaluate your strategy, each trade is little more than a roll of the dice. Yes, there’s an element of chance in the markets. But you can’t depend on things going your way if you want to be consistently profitable.

Certainly there are a lot of metrics that are interrelated that will ultimately bleed into the bottom line. But, as we have talked about in the past, if you are only focused on your bottom line, you are going to have a tough time trading.

So what’s the best metric to look at? The risk-to-reward ratio. Broken down, this tells you how much you lose on an average losing trade versus how much you gain on an average winning trade. Other metrics, like your net profit / loss, may make your feel good, but your risk-to-reward gives you information you can use to actually get and sustain that healthy account balance. Here’s how.

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Topics: TopstepTrader Funded Traders, Trading Basics, Forex, Futures

Jack Schwager: Secrets of the World's Best Traders

Posted by TopstepTrader on May 24, 2018

No one has studied the world's best traders like Jack Schwager has. That's why it was incredible that he dialed into the Limit Up! studio to share his  insights. 

Among these insights, Jack said that the best piece of advice he received was to “know where you’re gonna get out before you get in.” That advice came from Bruce Kovner, a trader that built a $5.4 billion fortune (here's how).

Check out this interview and be sure to subscribe to Limit Up on iTunesGoogle Play or SoundCloud to get the fresh episodes each week delivered to your inbox.  

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Topics: Trading Basics, Limit Up!, Forex, Futures, Jack Schwager

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

3 Lessons After the Greatest Trade Ever

Posted by TopstepTrader on May 22, 2018

Yesterday, we talked about hedge fund manager John Paulson, who made what was called The Greatest Trade Ever. And just as that trade had three important lessons, so does John Paulson’s performance a decade after it was made.

While Paulson’s firm made money for a bit, some of his top funds have not done well in the meantime. For instance, Paulson’s Advantage Fund was down double digits for three years. The Paulson Partners Enhanced fund fell 35% in 2017.

In total, Paulson may have lost more of his investor’s capital since 2008 than he made in his $15 billion run. That’s because money poured in and his performance changed. Here are three lessons you can learn from his reversal of fortunes.

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Topics: Trading Basics, Trading Lessons, Market Wizards, Forex, Futures, John Paulson

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