People occasionally ask us about the origins of the TopstepTrader moniker. Was it something that came to our founder in a dream? Is it an incredibly long and needlessly complicated acronym? Did a team of marketers conduct a focus group and conclude that Topstep was better than X-tremeTRADZ!! fueled by Mountain Dew? The truth is actually pretty straightforward, but also kind of cool if you're an aficionado of trading history.
Last month, we decided to bring on our Founder and Chief Vision Officer Michael Patak to talk about his origins as a trader, the founding of TopstepTrader and his experiences being deep in the pit. This is part 2 of Jeff’s interview with Michael. If you missed part 1, make sure to check it out here.
Today’s guest is a special one for Limit Up! As part of our birthday celebration this month, we thought it would be a great time to bring on our Founder and Chief Vision Officer Michael Patak. Michael takes us through his beginnings as a trader, his experiences deep in the pit, and how the move to the screens changed everything. Finally, hear how Michael started TopstepTrader with a community focus and how, at its heart, the company seeks to make the individual trader feel part of that community.
It's a holiday week here in the States. That means market hours are funky and the opportunities slim for retail traders. Why not give you mind a rest and leave it all behind for a while? Spend some time with the family. Do some projects around the house. Read a glossy airport novel if that's your thing. We promise all your favorite futures products will still be here when you get back.
In this week's Tip of the Week, TopstepTrader's founder Michael Patak discusses why taking a break from the markets is so important.
Not every trader needs to be swinging for the fences like an early-2000's Barry Bonds. Because frankly, I'm not aware of anything at the pharmacy that will turn you into a monster trader. Odds are you'll find it much easier to succeed by staying scrappy and just trying to get on base like future Hall-of-Famer Ichiro Suzuki.
In this week's Tip of the Week, TopstepTrader's founder Michael Patak is talking trading and baseball, and explains why every trader should learn to play a little small ball.
Booking a huge winner isn't the only way to be victorious in trading. Sometimes scratching a trade or getting out of a loser can be just as big of a win. Even choosing not to trade at all on a certain day or at a certain time can be its own victory. It's easy to get down on yourself focusing on all the things that could have gone better. You should also be keeping track of all the things you've done right.
In this week's Tip of the Week, TopstepTrader's founder Michael Patak explains why you should savor every victory in trading, no matter how small.
Hope for the best, prepare for the worst. Obviously, we can't control where the market moves, but we usually do have control over where, and when we get flat. Never put yourself in a position where you don't have an out. Not having a target or time-frame for a trade is often how a minor setback becomes a 5-alarm dumpster fire.
In this week's Tip of the Week, TopstepTrader's founder Michael Patak explains why it's so important to always have an out.
In trading, just as life, it's easy to get distracted. There are so many things in our environments screaming for our attention. It sometimes feels like there are too many screens, too many flashing lights, too many responsibilities. It takes tremendous discipline to block it all out and simply concentrate on the task at hand.
In this week's Tip of the Week, TopstepTrader's founder Michael Patak somehow acquires a baseball hat during the opening credits, then explains why it's so important to stay focused.
There's an old Chinese proverb that says the best time to plant a tree was 20 years ago. The second-best time is today. Now, there is some disagreement about whether this wisdom actually came from ancient China, but there's no doubt that it's good advice. It perfectly encapsulates the kind of mindset you need to be successful in these markets.
It doesn't matter if you made or lost a bundle yesterday, all that matters is how you approach the trade today. In this week's Tip of the Week, TopstepTrader's founder Michael Patak reminds us that everyday is a new day.
Summer is just around the corner (for all of us trading in the Northern Hemisphere at least), and that means that market conditions are about to change considerably. In this week's Tip of the Week, TopstepTrader's founder Michael Patak explains why trading over the Summer presents its own unique set of challenges.