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Taking Advantage of Trading Opportunities Right Now

Posted by TopstepTrader on September 22, 2018

To say there is a lot of geopolitical risk in the market right now would be an understatement. There's a palpable sense of populism rising — whether that's at the heart of the U.S. / China trade wars, Brexit negotiations or a whole host of other issues  that is threatening to shake up the economic status quo. What is that going to do to global markets? And how can traders take advantage of the rising opportunity?

Those are the questions that we tackle in the latest interview with DailyFX's chief currency strategist, John Kicklighter. John breaks down the recent moves in global macro markets, how that may impact forex trading and lessons that he's learned from his 20 years of trading experience. 

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Topics: Trading Basics, Limit Up!, Forex, September Trading Insights, John Kicklighter

Learn by Doing, Learn by Teaching

Posted by TopstepTrader on September 18, 2018

Experts say that there is no better way to learn to trade than to teach. That's something that Steve Burns, trader and the founder of New Trader U, has taken to heart. From his time trading the dotcom boom and bust to trading through the Great Recession of 2008 to today, Steve has been incredibly passionate about markets and  shares that passion openly on Twitter (@SJosephBurns). 

In this interview, Steve tells Eddie Horn how he found his niche in trading and how he would lessen the learning curve if he were starting out today. 

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Topics: Trading Basics, Limit Up!, Forex, Futures, September Trading Insights, Steve Burns

Biology Set You Up to Fail at Trading

Posted by TopstepTrader on September 09, 2018

You love trading. And you may think you were born to do this. You weren't. No one was.

In fact, everything about our biology is working against our success. Think about it. What are the traits of a successful trader. A successful trader is cool under pressure. She's disciplined, not fearful. She's focused on long-term growth, not short-term excitement. 

And that's not us. Our brains and biology are hard wired after tens of thousands of years as hunter / gatherers. But that doesn't mean that we can't learn a new mindset. That's what today's lesson is about — awareness and understanding of our trader's mind, so that we can better succeed at trading. 

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Topics: Trading Basics, Limit Up!, Forex, Trading Psychology, Rande Howell, Futures, September Trading Insights

What It Takes to Build a Long-Term Trading Career

Posted by TopstepTrader on September 07, 2018

One of the things that have helped humans progress is the fact that we've been able to build on our sum of knowledge over the course of our existence.

If you are trying to become a better trader — our theme here at Topstep for September (see our other articles) — alone, then you are doing it wrong. You have to learn from other traders. You have to build on their years of experience and knowledge. 

And Linda Raschke is one of those traders that you should know about. Our latest interview with her is action packed with insights.

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Topics: Trading Basics, Market Wizards, Limit Up!, Forex, Futures, Linda Bradford Raschke, September Trading Insights

Turning Trading Passion into Profits: 'Market Wizard' Linda Raschke

Posted by TopstepTrader on August 24, 2018

This week's interview with a legendary trader focuses on Linda Raschke, a futures trader. What is notable about Linda beyond her incredible success? Her passion, work ethic and breadth of experience. She is proof that to be successful trading, you can't be casual.

This is a special interview because our host Eddie turns the mic over to Topstep's risk manager, Mick Ieronimo, who was Linda's student and execution trader before joining Topstep. Mick takes a unique approach, coming at the interview from what Linda taught him. 

In fact, Linda had so much to share that we had to break the interview into two parts. This first part covers: 

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Topics: Trading Basics, Market Wizards, Limit Up!, Forex, Futures, Linda Bradford Raschke

70 Consecutive Months of 6-Figure Profits: Trading Legend Tony Saliba

Posted by TopstepTrader on August 23, 2018

Most people are drawn to trading because of the opportunity to make a great income in a challenging field. When things are going right, trading feels like it's easy money. When things are going wrong, trading causes you to beat yourself up — over and over again.

This week, we continued our August conversations with trading legend Tony Saliba, a man who knows trading's ups and downs (and what it takes to overcome them) well. His trading career spans all the emotions: from nearly blowing up his trading account, to self doubt, to trading 1-lots, to a streak of 70 consecutive 6-figure months. 

To be successful trading, Tony Saliba (@ajsmarketwizard) learned:

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Topics: Trading Basics, Market Wizards, Limit Up!, Forex, Futures, Tony Saliba

Dr. Brett Steenbarger: These 4 Traits Will Make Traders Successful

Posted by TopstepTrader on August 10, 2018

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much. 

To be successful trading, Dr. Steenbarger has learned:

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Topics: Trading Basics, Limit Up!, Forex, Futures, Brett Steenbarger

Interview with Trading Legend Larry Benedict: How I Built 20 Years of Consistent Profits

Posted by TopstepTrader on August 07, 2018

If you saw Larry Benedict's trading early in his career, you wouldn't expect him to be successful. He couldn't stop losing money. In Hedge Fund Market Wizards, Jack Schwager titled his chapter "Beyond Three Strikes."

But there's a reason that Schwager put Benedict in Chapter 3, right after Ray Dalio — who runs Bridgewater Associates, the largest hedge fund in the world. It's because Benedict has a track record that rivals them all: 20 years of gains. Perhaps more impressive, during the run from 2004 to 2012, his fund returned 11.5% per year net of fees with just a 5% maximum drawdown. (Don't forget what happened in 2008 and 2009 to markets!) 

Topstep's Eddie Horn caught up with Larry in this episode of Limit Up! to talk about his trading, how he's become so successful, what he's learned along the way, and why he launched The Opportunistic Trader as a way to bring hedge fund-like knowledge to retail futures traders. 

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Topics: Trading Basics, Market Wizards, Limit Up!, Futures, Larry Benedict, Jack Schwager

What is the Next Opportunity in the Crude Oil Market?

Posted by TopstepTrader on July 12, 2018

After yesterday, Crude Oil futures are seeing red. The commodity fell 5% after inventory numbers. 

But a move of that size could have been expected. There is just so much going on: supply concerns coming out of Venezuela and Canada; political pressures from President Trump's Twitter account; extreme backwardation in the Crude Oil curve where front-month prices are more expensive than future prices; and, before yesterday, a $10 rally in the past month. 

In this special episode of Limit Up!, futures trader Tracy Shuchart talks with host Eddie Horn about what's going on and what she is looking at to drive moves in the coming trading sessions. 

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Topics: Trading Basics, Limit Up!, Tracy Shuchart, Futures, Crude Oil

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

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